Topic: Argentina raises Gambling tax - page 7. (Read 2917 times)
Argentina had been trying everything to bring more capital to the country and they had zero tax for many things including work of arts which is one of the most expensive products that are traded. But most of those attempt haven't brought many benefits to the country. They have now implemented a small gambling tax and a mere 5% tax would send away most of the gambling business as many tax heaven provides much facilities in lower taxes.
I would say taxing on gambling should always be high, because it is an industry that is guaranteed to make a profit and there is not that many business in the world that can say that. Normally I would say other business' are the same when they do not get customers they bankrupt and so will casinos as well but casinos could get just one whale and still make it big, plus if you do not get customers as a casino which is literally an "attraction" that means maybe you shouldn't have opened it.
It can't even get saturated, there are a billion casinos in Las Vegas and from the HUGE ones to small tiny ones they all make money somehow. So, I would say taxing these companies for gambling should be pretty high, not even 5% it should probably be higher for bigger ones.
It can't even get saturated, there are a billion casinos in Las Vegas and from the HUGE ones to small tiny ones they all make money somehow. So, I would say taxing these companies for gambling should be pretty high, not even 5% it should probably be higher for bigger ones.
It is all right for me if the taxes are increased in gambling. Gambling is a luxury. It is a vice or a hobby. It is not a necessity or a need. So it does not matter if they are taxed a little more than the usual especially because the revenue will be provided to the provincial territories of Argentina where help is much needed.
I don't believe the gambling industry in Argentina is unregulated. This is just a tax increase. It does not mean there was no regulation prior to this.
indeed with taxes it can improve a country's infrastructure but you have to be careful because if gambling establishments increase taxes it might make them players choose other places that don't use taxes. may be able to find a way other than increasing taxes.I don't believe the gambling industry in Argentina is unregulated. This is just a tax increase. It does not mean there was no regulation prior to this.
That is exactly correct. The government will have to weigh in the pros and cons of increasing taxes also. They need to also consider the possibility of discouraging gamblers to play on licensed casinos which will impose the high taxes required by the government. It is indeed possible that some gamblers would now choose those which are not really paying the right government taxes.
Another possibility is that the gambling income would also be diminished significantly because of the new tax system. There might be a backlash of gamblers which result to a lower revenue for gambling establishments.
Every government policy related to taxes will inevitably raise pros and cons, as well as what the Argentine government has done to increase
the gambling tax.
yups thats why they called government to govern the country and to imply rules,adn good thing that extra taxes for gambling is implemented.the gambling tax.
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Being a debate in the public, many argue that this tax increase could make gamblers affected. I think it's really a good thing,
it can reduce the habit of playing gambling. It's possible that increasing the gambling tax can reduce gambling addiction too. But I strongly agree
that the Argentine government increases the gambling tax, because at least it can increase state income.
if the casino houses put this taxes to their players,then sooner gamblers will find places in which they are not being used to back to complaint to the government. it can reduce the habit of playing gambling. It's possible that increasing the gambling tax can reduce gambling addiction too. But I strongly agree
that the Argentine government increases the gambling tax, because at least it can increase state income.
That is good news for CRYPTO GAMBLING.
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.
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.
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.
Apparently Argentina just raised their gambling tax to 5%.
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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.
I think this is a not so well thought move.Small start ups need backing them up and not cutting directly the way to them as this moves does exactly this.It is an attempt to make the big operators get all the revenue.The only good from this is that this tax will be used to help the provinces but I am not sure the money will go exactly there as you know in every country there is room for corruption.
Every government policy related to taxes will inevitably raise pros and cons, as well as what the Argentine government has done to increase
the gambling tax. Being a debate in the public, many argue that this tax increase could make gamblers affected. I think it's really a good thing,
it can reduce the habit of playing gambling. It's possible that increasing the gambling tax can reduce gambling addiction too. But I strongly agree
that the Argentine government increases the gambling tax, because at least it can increase state income.
the gambling tax. Being a debate in the public, many argue that this tax increase could make gamblers affected. I think it's really a good thing,
it can reduce the habit of playing gambling. It's possible that increasing the gambling tax can reduce gambling addiction too. But I strongly agree
that the Argentine government increases the gambling tax, because at least it can increase state income.
Is the country raising tax on "gambling" or "betting" (betting transactions?).
I guess it's betting industry they're reffering to , which includes lottery, political betting, forex, competition etc... and that will likely make taxing easy and encompassing considering that word "betting" can be clearer and easy for any national law than "gambling"
By the way, outright ban on gambling is acceptable than raising tax on gambling. 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
Don't put religious belief in Business and in government ,if you believe gambling is Bad then keep it on you and pay respect to gambling industry and gambling community.I guess it's betting industry they're reffering to , which includes lottery, political betting, forex, competition etc... and that will likely make taxing easy and encompassing considering that word "betting" can be clearer and easy for any national law than "gambling"
By the way, outright ban on gambling is acceptable than raising tax on gambling. 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
Why are you Saying Taxing gambling is Immoral?Please be reminded that you are posting in "Gambling Section" in which majority of People are either gambler or gambling supporter So Pay attention to the subject please.
Good to Hear that Argentina Knows where to collect funds in which wont effect the public.
Congrats for this action and hope will succeed.
Is the country raising tax on "gambling" or "betting" (betting transactions?).
I guess it's betting industry they're reffering to , which includes lottery, political betting, forex, competition etc... and that will likely make taxing easy and encompassing considering that word "betting" can be clearer and easy for any national law than "gambling"
By the way, outright ban on gambling is acceptable than raising tax on gambling. 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
I guess it's betting industry they're reffering to , which includes lottery, political betting, forex, competition etc... and that will likely make taxing easy and encompassing considering that word "betting" can be clearer and easy for any national law than "gambling"
By the way, outright ban on gambling is acceptable than raising tax on gambling. 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
It's government it's up to them to decide whether to make it illegal or increase the tax payment they collected from them . Gambling and addiction is hardly to stop any where you are ,as long as there is a way to gamble they will always find ways to play even it's illegal.So if government know they can't stop people from gambling they join it so they can also get the benefit having that gambling sites in legal ways by asking tax .
Is the country raising tax on "gambling" or "betting" (betting transactions?).
I guess it's betting industry they're reffering to , which includes lottery, political betting, forex, competition etc... and that will likely make taxing easy and encompassing considering that word "betting" can be clearer and easy for any national law than "gambling"
By the way, outright ban on gambling is acceptable than raising tax on gambling. 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
I guess it's betting industry they're reffering to , which includes lottery, political betting, forex, competition etc... and that will likely make taxing easy and encompassing considering that word "betting" can be clearer and easy for any national law than "gambling"
By the way, outright ban on gambling is acceptable than raising tax on gambling. 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
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It is all right for me if the taxes are increased in gambling. Gambling is a luxury. It is a vice or a hobby. It is not a necessity or a need. So it does not matter if they are taxed a little more than the usual especially because the revenue will be provided to the provincial territories of Argentina where help is much needed.
I don't believe the gambling industry in Argentina is unregulated. This is just a tax increase. It does not mean there was no regulation prior to this.
indeed with taxes it can improve a country's infrastructure but you have to be careful because if gambling establishments increase taxes it might make them players choose other places that don't use taxes. may be able to find a way other than increasing taxes.I don't believe the gambling industry in Argentina is unregulated. This is just a tax increase. It does not mean there was no regulation prior to this.
Some people will not like to see their government raises gambling tax because I think they are comfortable with the previous situations. But what you said is right, applying taxes in many businesses can improve a country's development, so their country's economy can grow. Maybe that can make people who don't have much money will stop playing gambling because the taxes will be too high for them.
The government needs a source of income since a lot of businesses had closed down, so they need to search for all possible avenues to gather taxes from existing businesses. Gambling is a huge industry even with the pandemic people are still looking for a place to gamble, and I doubt if it will be out of demand. I don't care how the government inpose their tax as long as it is fair and taxes are properly used.
The negative impact will be there for gamblers from Argentina, it is the right time for gamblers from Argentina to choose anonymous gambling and avoid paying the high tax. 2.4 billion dollars worth of revenue is not a small amount considering the huge turnover of gambling funds but the government was able to choose another method for adding more money to the government budget. The gamblers shouldn't be a target for this purpose, in my opinion.
I fear this is what is going to happen as previously even the honest tax payers now feel the pinch as instead in this difficult times some of them try their luck in gambling if they can make money but increasing he gambling tax will hurt anyone. So now they will choose to stay anonymous using such gambling sites and might now not even pay any tax or show in their yearly income.
gambling is such a big market and we knew how much profit brings this to the operator,specially in countries that gambling is not regulated.
This argentina government decision is actually should have done long time ago as the gambling activities in their country is getting bigger and bigger .
But it is better late than never and now they will realize how much taxes that has been uncollected since day 1.
Hope this action will help the country for recovering from the pandemic as they are also one that suffers most.
This argentina government decision is actually should have done long time ago as the gambling activities in their country is getting bigger and bigger .
But it is better late than never and now they will realize how much taxes that has been uncollected since day 1.
Hope this action will help the country for recovering from the pandemic as they are also one that suffers most.
The number of online gambling and casino gambling increases with our current situation, most of the gamblers are now being into gambling due to this pandemic which makes them so bored and has free time that they are spending for gambling and by that government see this opportunity to earn by giving or increase the tax, good thing is that they will use it in good things if that is true. This pandemic causes too much suffering to our economics but the government should be fair to everyone for giving tax rate.
It is all right for me if the taxes are increased in gambling. Gambling is a luxury. It is a vice or a hobby. It is not a necessity or a need. So it does not matter if they are taxed a little more than the usual especially because the revenue will be provided to the provincial territories of Argentina where help is much needed.
I don't believe the gambling industry in Argentina is unregulated. This is just a tax increase. It does not mean there was no regulation prior to this.
I don't believe the gambling industry in Argentina is unregulated. This is just a tax increase. It does not mean there was no regulation prior to this.
Well atleast Argentinian gamblers can assure that their taxes were alloted for provincial territory development rather than nothing. At least they have this feeling that they already got fun and at the same time they helped to the development of Argentina's countryside by the means of their taxes. But i didn't speak this as a general gambler would agree with it. Of course some gamblers will speak for their own opinion too regarding on this.
It is all right for me if the taxes are increased in gambling. Gambling is a luxury. It is a vice or a hobby. It is not a necessity or a need. So it does not matter if they are taxed a little more than the usual especially because the revenue will be provided to the provincial territories of Argentina where help is much needed.
I don't believe the gambling industry in Argentina is unregulated. This is just a tax increase. It does not mean there was no regulation prior to this.
indeed with taxes it can improve a country's infrastructure but you have to be careful because if gambling establishments increase taxes it might make them players choose other places that don't use taxes. may be able to find a way other than increasing taxes. I don't believe the gambling industry in Argentina is unregulated. This is just a tax increase. It does not mean there was no regulation prior to this.
It's pretty manageable imo, and not that unreasonable, not to mention that most of it would go towards the development of the country itself, which is a plus in the case of casinos itself as well, since development leads to more jobs, to better jobs, which leads to better salaries and possibly more people would gamble then, or maybe an increase in the amount the people use to gamble. And another point is, it isn't really like they can fight against it or anything, might as well see the positives in this.
And if ever, we would see any reactions to it, positive or negative from the players themselves after a few weeks. If the casinos themselves increase the fees and whatnot in accordance with the tax increase, then there may be some complaints here and there, but if they didn't it really just means that the market is indeed unregulated for the past few years.
And if ever, we would see any reactions to it, positive or negative from the players themselves after a few weeks. If the casinos themselves increase the fees and whatnot in accordance with the tax increase, then there may be some complaints here and there, but if they didn't it really just means that the market is indeed unregulated for the past few years.
It is all right for me if the taxes are increased in gambling. Gambling is a luxury. It is a vice or a hobby. It is not a necessity or a need. So it does not matter if they are taxed a little more than the usual especially because the revenue will be provided to the provincial territories of Argentina where help is much needed.
I don't believe the gambling industry in Argentina is unregulated. This is just a tax increase. It does not mean there was no regulation prior to this.
I don't believe the gambling industry in Argentina is unregulated. This is just a tax increase. It does not mean there was no regulation prior to this.
@aioc. However, the Argentinian government might also know more about the decision they are doing hehehe. I speculate that online gambling has increased in their country during this pandemic and the government wants their share.
The tax rate increase is from 2% to 5%. This is more than double and I reckon this increase has been studied more deeply than it appears.
The tax rate increase is from 2% to 5%. This is more than double and I reckon this increase has been studied more deeply than it appears.
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