Topic: Argentina raises Gambling tax - page 5. (Read 2829 times)
Taxation is the income for the government. Each and every country have its own way of taxation policy. Argentina being a country well known for lots and lots of sports activities have got more gambling platforms function fulfilling all the legal procedures. The government might've found the need of rise in the gambling tax as the houses make promised edge on every game.
As if they have other option right? They are doing everything that they know in order
produce something to help their economy, they've been hit by this virus and finding
every possible ways that includes businesses that still existing even this pandemic is
ongoing, the government is doing all legal actions to gather money to help
the entire country.
produce something to help their economy, they've been hit by this virus and finding
every possible ways that includes businesses that still existing even this pandemic is
ongoing, the government is doing all legal actions to gather money to help
the entire country.
I understand that they are facing shortage of funds. But the solution for that is not to increase the taxes left, right and center. First of all, all the socialist regimes in Latin America needs to cut down their welfare spending. Under such market conditions, handing out freebies without any limit is not viable. And secondly, they should try to reduce corruption among the government officials and the bureaucrats, which is the real reason for the shortage of funds in the first place.
that kind of accusation but truly its really happening.
About on increasing tax then you do think with other solution? Even though some governments are corrupt but doesnt mean that all would be the same place
or make some generalization.
Adding some tax on gambling businesses isnt really a bad idea yet 5% isnt really that a huge bump.
There is no need to help gambling related service cause they make tons of money, just plain and simple. Despite the fact that I am into gambling and have experience in this field, I think that it's good. People will still gamble, the casino will still profit but the positive thing that will happen is that more money will go into the budget. It will be positive if this money is used for people and not for making elite people richer. So, what happens there? People gamble, some win - some lose, in most cases - lose because games are mathematically designed like that, so, some people have much money - some less, much will give away money to casino and casino will bring more money to the government and this last one will spend this money on people in overall (If the government is good).
As if they have other option right? They are doing everything that they know in order
produce something to help their economy, they've been hit by this virus and finding
every possible ways that includes businesses that still existing even this pandemic is
ongoing, the government is doing all legal actions to gather money to help
the entire country.
produce something to help their economy, they've been hit by this virus and finding
every possible ways that includes businesses that still existing even this pandemic is
ongoing, the government is doing all legal actions to gather money to help
the entire country.
I understand that they are facing shortage of funds. But the solution for that is not to increase the taxes left, right and center. First of all, all the socialist regimes in Latin America needs to cut down their welfare spending. Under such market conditions, handing out freebies without any limit is not viable. And secondly, they should try to reduce corruption among the government officials and the bureaucrats, which is the real reason for the shortage of funds in the first place.
What are your thoughts on this ??
I support regulation but the higher the taxes the worse for the business.Argentina is in a desperate situation with a high inflation currency. The government is desperate to try get more money while it keeps spending way more than it can raise in taxes.
Due the regulation casinos will earn less, people will lose more and the government will get some money but at a expense of a declining business as a result.
As if they have other option right? They are doing everything that they know in order
produce something to help their economy, they've been hit by this virus and finding
every possible ways that includes businesses that still existing even this pandemic is
ongoing, the government is doing all legal actions to gather money to help
the entire country.
https://www.gamblinginsider.com/news/10471/argentina-raises-online-gambling-tax-to-5
Apparently Argentina just raised their gambling tax to 5%.
Apparently the industry was unregulated for a long time and the government now decided to go for it since they will aid in the future stability and improvement in the financial situation.
The industry according to them apparently is able to get 2.4 billion dollars worth of revenue and which is inclined to help the country , 95% of the tax is going to go to the province.
What are your thoughts on this ??
Is this good/bad , how would we be able to cope up with the governmental bodies increasing the gambling tax thus shutting down the small business causing problems for the long run.
- it was a little sudden to increase it to almost double. The government never even helped the industry for the sake of the argument.
This plan was likely to be on the officials radar for very long time and now it seems the perfect time to increase the taxes on entertainment industry so that gambling also falls into that category so they can convince the people that this is just the action to tackle the post covid situations. Increasing the taxes can be win win situation if the money used for the betterment of the country and the industry itself or else people may go with dark side gambling area. Apparently Argentina just raised their gambling tax to 5%.
Quote
The Argentine Chamber of Deputies has passed a law that will increase the online gambling tax rate from 2% to 5% in 2021. The new law was added to the National budget proposed by Economy Minister Martín Guzmán. The tax will apply to any online betting transaction. There’s also a 10% rise for the companies that operate in low-taxation countries.
Apparently the industry was unregulated for a long time and the government now decided to go for it since they will aid in the future stability and improvement in the financial situation.
The industry according to them apparently is able to get 2.4 billion dollars worth of revenue and which is inclined to help the country , 95% of the tax is going to go to the province.
What are your thoughts on this ??
Is this good/bad , how would we be able to cope up with the governmental bodies increasing the gambling tax thus shutting down the small business causing problems for the long run.
- it was a little sudden to increase it to almost double. The government never even helped the industry for the sake of the argument.
What are your thoughts on this ??
I support regulation but the higher the taxes the worse for the business.Argentina is in a desperate situation with a high inflation currency. The government is desperate to try get more money while it keeps spending way more than it can raise in taxes.
Due the regulation casinos will earn less, people will lose more and the government will get some money but at a expense of a declining business as a result.
First, is the tax for the gambling industry (home book) or for their citizen who plays gambling?
Actually, 5% is still a small tx percentage of the country for the gambling industry. There are still many countries that give very high taxes on gambling. Moreover, it is up to more than 80%, it is crazy, isn't it?
Like what we can see here:
The Ultimate Guide to Gambling Tax Rates Around the World
The Highest And Lowest Gambling Taxes Around The World
Are you kidding? It is the tax for gambling companies and if you will read the second article from your post then you will understand it. This is a quote from it:Actually, 5% is still a small tx percentage of the country for the gambling industry. There are still many countries that give very high taxes on gambling. Moreover, it is up to more than 80%, it is crazy, isn't it?
Like what we can see here:
The Ultimate Guide to Gambling Tax Rates Around the World
The Highest And Lowest Gambling Taxes Around The World
Gambling (taking big risk, whether in bets or other area) is actually bad and very risky. It's immoral to tax and benefits from things that are bad for people
If it is immoral, why are you promoting Bitvest casino in your signature space and (oh, no!) profiting from the casino? 
What are your thoughts on this ??
I support regulation but the higher the taxes the worse for the business.
Argentina is in a desperate situation with a high inflation currency. The government is desperate to try get more money while it keeps spending way more than it can raise in taxes.
Due the regulation casinos will earn less, people will lose more and the government will get some money but at a expense of a declining business as a result.
This will surely force some small platforms to shut down some of their official channels and go the underground route, which is an inviting avenue for gamblers to play since it is unregulated, and some ballsy bets not possible on official, legal ones can be made for as long as the gambling house can pay it. The sudden increase in taxes on gambling entities without the government doing anything to better the industry is a punch in the gut, and trying to justify it with helping the province's isn't going to cut it. As they say, the road to hell is always paved with good intentions, so idk about the government's reasoning behind imposing more taxes on an industry they never lend a hand on.
https://www.gamblinginsider.com/news/10471/argentina-raises-online-gambling-tax-to-5
Apparently Argentina just raised their gambling tax to 5%.
Apparently the industry was unregulated for a long time and the government now decided to go for it since they will aid in the future stability and improvement in the financial situation.
The industry according to them apparently is able to get 2.4 billion dollars worth of revenue and which is inclined to help the country , 95% of the tax is going to go to the province.
What are your thoughts on this ??
Is this good/bad , how would we be able to cope up with the governmental bodies increasing the gambling tax thus shutting down the small business causing problems for the long run.
- it was a little sudden to increase it to almost double. The government never even helped the industry for the sake of the argument.
Since the Argentina knows that the population of gamblers on their country is getting higher then the tax raising for gambling is not surprising. Every one who has a goal to earn a lot of things will do anything to earn how much they want but they must make sure that they won't be having a factor that can stop their earnings just like what Argentina does, since they raise the tax then people may get disappointed and stop gambling or go to other country to gamble. Apparently Argentina just raised their gambling tax to 5%.
Quote
The Argentine Chamber of Deputies has passed a law that will increase the online gambling tax rate from 2% to 5% in 2021. The new law was added to the National budget proposed by Economy Minister Martín Guzmán. The tax will apply to any online betting transaction. There’s also a 10% rise for the companies that operate in low-taxation countries.
Apparently the industry was unregulated for a long time and the government now decided to go for it since they will aid in the future stability and improvement in the financial situation.
The industry according to them apparently is able to get 2.4 billion dollars worth of revenue and which is inclined to help the country , 95% of the tax is going to go to the province.
What are your thoughts on this ??
Is this good/bad , how would we be able to cope up with the governmental bodies increasing the gambling tax thus shutting down the small business causing problems for the long run.
- it was a little sudden to increase it to almost double. The government never even helped the industry for the sake of the argument.
This is gambling tax, come on, people barely don't care about it, and people will not complain.
When we say people it should be majority of them, not the people who are running the casino business, this is just right and I think it's better than banning casinos at all when both sides would not benefit from it.
Many countries prohibited online and offline gambling option but argentina just added the tax alone for you. Hence it is good for the government and they can able spend that for public. Still I believe most of the Argentinian people may play the online gambling games.
Any argentinian here to share your exact thoughts on this taxation and reason behind it.
Any argentinian here to share your exact thoughts on this taxation and reason behind it.
As far as people in any country it may be nobody would like to pay extra tax on your income. Government want money and people now want to save money. Many play gambling for fun and on that if added more taxed so either some of them might stop or will try to find out some other way as well to avoid taxes.
Yes, people don't want to pay extra taxes because they think that they already pay the taxes as usual. If the government still pushing them to pay more taxes, maybe that will attract demonstration from the people because people will think that more taxes will make them suffers in this situation. Maybe the government needs to be wise this time, and maybe the government can discuss with people, so they don't rush in applied the extra taxes.
This is gambling tax, come on, people barely don't care about it, and people will not complain.
When we say people it should be majority of them, not the people who are running the casino business, this is just right and I think it's better than banning casinos at all when both sides would not benefit from it.
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Many countries prohibited online and offline gambling option but argentina just added the tax alone for you. Hence it is good for the government and they can able spend that for public. Still I believe most of the Argentinian people may play the online gambling games.
Any argentinian here to share your exact thoughts on this taxation and reason behind it.
Any argentinian here to share your exact thoughts on this taxation and reason behind it.
As far as people in any country it may be nobody would like to pay extra tax on your income. Government want money and people now want to save money. Many play gambling for fun and on that if added more taxed so either some of them might stop or will try to find out some other way as well to avoid taxes.
Yes, people don't want to pay extra taxes because they think that they already pay the taxes as usual. If the government still pushing them to pay more taxes, maybe that will attract demonstration from the people because people will think that more taxes will make them suffers in this situation. Maybe the government needs to be wise this time, and maybe the government can discuss with people, so they don't rush in applied the extra taxes.
Many countries prohibited online and offline gambling option but argentina just added the tax alone for you. Hence it is good for the government and they can able spend that for public. Still I believe most of the Argentinian people may play the online gambling games.
Any argentinian here to share your exact thoughts on this taxation and reason behind it.
Any argentinian here to share your exact thoughts on this taxation and reason behind it.
As far as people in any country it may be nobody would like to pay extra tax on your income. Government want money and people now want to save money. Many play gambling for fun and on that if added more taxed so either some of them might stop or will try to find out some other way as well to avoid taxes.
I doubt that, I believed there's still a lot of people who will play especially they will be a regulated one. I don't think Government will tax the players directly for what I know they will tax the casino itself not the players.
ya.ya.yo!
There are saying that if "there's a will there's a way" since for sure the gamblers who settle to play and find entertainment on gambling will still play eventhough there are huge taxes beneath on their plays but I doubt they will compensate the gamblers since for sure they cannot control those people who come in and come out on certain casinos especially on online. Provably this will be given to the casino and this is a good move from government since for this implementation they can get additional funds for further developments of the country.
Now gamblers are going to have a good reason to abandon traditional casinos and play at crypto currency sites which won't raise any taxes on them.
For Argentina it won't be good. The government thinks they are going to increase their income from taxes, but in fact it can be quite the opposite, as gamblers tend to look for another gambling methods, such as the clandestine ones or crypto casinos.
If you only read the OP's post you'll understand that it will cover any gambling and that includes the online gambling and betting. This will be effective in as early as the 2021 enters, this means that gamblers in Argentina will pay additional 5% for taxes in online and conventional gambling platforms. The only good news I can think of is that people will hesitate to gamble, instead some of them will just use it in more useful way.For Argentina it won't be good. The government thinks they are going to increase their income from taxes, but in fact it can be quite the opposite, as gamblers tend to look for another gambling methods, such as the clandestine ones or crypto casinos.
Many countries prohibited online and offline gambling option but argentina just added the tax alone for you. Hence it is good for the government and they can able spend that for public. Still I believe most of the Argentinian people may play the online gambling games.
Any argentinian here to share your exact thoughts on this taxation and reason behind it.
Any argentinian here to share your exact thoughts on this taxation and reason behind it.
As far as people in any country it may be nobody would like to pay extra tax on your income. Government want money and people now want to save money. Many play gambling for fun and on that if added more taxed so either some of them might stop or will try to find out some other way as well to avoid taxes.
I doubt that, I believed there's still a lot of people who will play especially they will be a regulated one. I don't think Government will tax the players directly for what I know they will tax the casino itself not the players.
ya.ya.yo!
For me it is depends on your perspective, if you are pro with government then you may agree to their decision to raise the taxes because it is extra income for them in order to increase their yearly budget to have more developments in their country as long as there will be no corruption that will happen. If you are one of the gambling casino owners then this news is not good because it is extra expense wherein your sales will be decrease of the tax. The 5% tax is so big especially for the big casinos out there because we are talking about millions of dollars so it is really not good news for the gambling casinos owners.
Gambling is a voluntary habit so I can't say if it's good or bad. Increased tax will lessen the average number of people that gamble. I'm not saying all of them but some will think twice if it's worth gambling with the money they can only afford to play. Addicted gamblers on the other side will always find a way to continue their habit, either they find a different platform with less tax or increase their bankroll if they can afford to do so.
Those who are habitual gamblers, will continue with their trick irrespective of the taxes. Some of them would agree to pay the higher tax rate, resulting in a lower amount of disposable income at their hand. Others may decide to move their gambling activities to illegal casinos and online gambling sites, where they don't have to pay any tax. Eventually, the government will face a declining stream of revenue from the gambling industry.
What are your thoughts on this ??
Is this good/bad , how would we be able to cope up with the governmental bodies increasing the gambling tax thus shutting down the small business causing problems for the long run.
- it was a little sudden to increase it to almost double. The government never even helped the industry for the sake of the argument.
Is this good/bad , how would we be able to cope up with the governmental bodies increasing the gambling tax thus shutting down the small business causing problems for the long run.
- it was a little sudden to increase it to almost double. The government never even helped the industry for the sake of the argument.
Gambling is a voluntary habit so I can't say if it's good or bad. Increased tax will lessen the average number of people that gamble. I'm not saying all of them but some will think twice if it's worth gambling with the money they can only afford to play. Addicted gamblers on the other side will always find a way to continue their habit, either they find a different platform with less tax or increase their bankroll if they can afford to do so.
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