Argentina raises Gambling tax

[bitterguy28]

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.

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.

[Shasha80]

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.

[swogerino]

https://www.gamblinginsider.com/news/10471/argentina-raises-online-gambling-tax-to-5

Apparently Argentina just raised their gambling tax to 5%.

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.

[uneng]

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.

[peter0425]

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.

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.

[Fundamentals Of]

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.

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.

[el kaka22]

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.

[covfefe_]

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.

[Jaycee99]

Related to the tax that they push to increase, my thoughts are always bad because you have to pay tax for gambling and My Thoughts at least they don't ban online gambling government earns from it too because they see that many people gamble and gamble they find their way to get some money. They did what they thought could get them for money and that tax money will be used publicly or into the pockets(I am not accusing its, just that is what the government is portraying this day we cant see who is into justice and injustice)

[hahay]

Increasing those taxes happened because of the situation and I guess, nothing that can be done maybe just filed an appeal or something like that. The government just wants to restore this damaged economy quickly and if they set gambling to raise taxes, that might already be the best option because the increasing number of gamblers keeps the gambling industry on the rise too. that way, I'm sure every gambler will be able to adjust to this new tax because after all, most gamblers realize that gambling is entertainment by spending money and they are ready to play with money ready to spend, right.

[bitcoin31]

Because this pandemic maybe the reasons why they are increased the tax for the gambling but I don't complain with that because it should be high tax for the gambling industry since the owner gets a lot of profit from the player. But if they applied this taxes to the player I would disagree with that. I those taxes they get from the gambling will be use in the project not on their own pocket or their own sake.

[matchi2011]

Because this pandemic maybe the reasons why they are increased the tax for the gambling but I don't complain with that because it should be high tax for the gambling industry since the owner gets a lot of profit from the player. But if they applied this taxes to the player I would disagree with that. I those taxes they get from the gambling will be use in the project not on their own pocket or their own sake.

It will be a domino effects, once they suffer from this taxes the owners will implement also this tax to the gamblers  to lessen
the burden to continue getting good amount of profits.

That's the chance that may take place while the government really needs additional money to start recovering, gambling industry
will be ask to cooperate as the government knows that this venue are capable to help.

[bryant.coleman]

If they increase the taxes too much, then it will push the gambling industry underground in to the hands of criminal gangs. In the end the government will face a reduction in tax revenue, which is exactly opposite of what they are expecting. To be frank, gambling is not one of the sectors where they can increase the tax rates heavily. The margins are very narrow and even a 1% increase can have serious impact on the volumes. They need to reverse this decision. 

[harizen]

They just saw how the online gambling casinos are making a huge profit from the pandemic, so they raised it from 2 to 5% that's a big jump, they just doubled the percentage, for an industry that's making $2.4 billions worth of revenue, the government will get its attention, and they have a reason now to increase the tax, that's the pandemic.
I guess it's time for online gambling sites to contribute but the government should acknowledge their contribution to their economy.

Acknowledgment? The fact that these gambling operators enjoy paying less tax for "several years" is already heaven to them. The gambling industry there is so active even without pandemics but still, the government only imposed a 2% tax on them.

These operators should be thankful that the government barely regulated gambling in that country. The time now to pay back. That tax increase won't hurt the gambling industry there as a whole. Gambling is one of the most performing industries there amid pandemic so not a problem at all if a 3% increase will be imposed.

[iv4n]

Increasing those taxes happened because of the situation and I guess, nothing that can be done maybe just filed an appeal or something like that. The government just wants to restore this damaged economy quickly and if they set gambling to raise taxes, that might already be the best option because the increasing number of gamblers keeps the gambling industry on the rise too. that way, I'm sure every gambler will be able to adjust to this new tax because after all, most gamblers realize that gambling is entertainment by spending money and they are ready to play with money ready to spend, right.

It's what governments do! Most governments are in a bad financial situation, always short with money (do we even wonder why anymore?), so they look what can they tax! In this specific case it's Argentina and gambling!
I am not against tax and paying, but I would like more things to be done with that money! Maybe I have a weird stand on that, but I live in the country that have taxes on everything, and every year new things get taxed, and some old taxes are higher, it's like the normal thing for me... but what I don't see is that money going to something that will benefit the entire country! Read corruption, over 60% of public debt to GDP, read politicians are getting rich while they help rich to become richer. So I don't have big respect for governments today and their ways to take more money for themselves!
And like always we can't fight with force, or we can?! You either adapt to new things, or you go underground to try to find a way, and we all know how risky that can be!

[Fatunad]

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.

You are right yet this industry is a multi billion one which means it is indeed profitable and 5% tax isnt really that much high if you do compare it on other countries
which does have much higher tax rate.So i dont really see this as an issue with argentina government on making such step because it isnt really that bad after all
because this is just for the sake of economic development and yet we know on whats the purpose of tax after all.It is really not that surprising
since we are on amidst of pandemic which such increase shouldnt really be complained of.

[Twentyonepaylots]

That is good news for CRYPTO GAMBLING.

How is this a good news? LOL

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.

[Renampun]

Because this pandemic maybe the reasons why they are increased the tax for the gambling but I don't complain with that because it should be high tax for the gambling industry since the owner gets a lot of profit from the player. But if they applied this taxes to the player I would disagree with that. I those taxes they get from the gambling will be use in the project not on their own pocket or their own sake.

it is very cruel if the government imposes a tax on gambling players during this outbreak...
it is no secret if gambling business owners will definitely get a big profit, it is very natural for them to contribute to the state by paying taxes because currently, of course, almost all countries need funds to save their economy as a result of this corona outbreak.

[coupable]

The country Argentina has been raises a tax on the gambling? Simply because all of the economy of each country in on the downside because of the pandemic that has been brough to us and that's why, their government think about how they will be able to recover again from the loss that has been brought by the pandemic, and it is giving the casinos or gambling casinos an additional tax for its gamblers. The cons here is that there are gamblers who are not in favor here because you as a gambler, will you be able to accept additional fees or tax whenever you play? Of course not.

Argentina is a third world country. It's quite normal that governments in 3rd world will look for several possibilities to get more incomes during the pademic when their economy can't support such an agressive crisis. The market of "Entertement" could be considered as a victim of this policy. Taxes augmented in everything even illegal stuffs,gambling isn'tan exception

I understand that Argentina making way to have additional sources just like the other country did but that 5% is really not acceptable for the players. I may think that this could be the reason to stop people from gambling but rather to focus on the solution to the problem we face today.

In my country, we have a law that if you win in any contest or betting you have to pay a tax of 25%. this is a perminent law ong before the pandemic. And i still can't understand why there is still such a very stupid law which lead people to use online casinos/platforms and leave forever the classic bets run by regulated companies inside the country.

[Sled]

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.

I hope they will...
The government has seen this potential for helping them to recover from big economic losses. Ain't that a problem if they will fairly ask for it and if this is for the benefit of everyone.

Not only it is because we have this pandemic but still the government will surely impose and collect taxes as it was mandated by the Law. But if we assess the amount that they want to collect, I'd say that it was really big. I think it wasn't a good time to have such an amount as we are still in crisis, it could be acceptable if we are in a normal situation.