Argentina Set to Raise Online Gaming Tax
BC.Game

 

The Argentina government is going to impose a higher rate of tax on online gaming for the forthcoming year.

The initiative from Minister of Finance Martín Guzmán, which increases taxes on online gambling from 2% to 5%, was included in next year’s draft budget. The proposal estimates that 95% of the revenue will be distributed among provinces, while 5% will be invested in technological innovations by the Argentinian state telecommunications company Arsat.

According to Política Online, the sector generates around $2.4bn annually in Argentina, but as the business is still not fully regulated, the contributions to the state are virtually non-existent. However, they estimate that each province will benefit once they legalize and regulate online gambling.

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Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

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