USD 385M at stake
Argentina rises gambling tax share
2017-03-17
Reading time 32 seg
The government of Argentina has decided to take the gambling tax share from 0.75% to 0.95%. The resolution was issued Thursday in the official gazette under the 179/2017 decree in a move to reach “fiscal balance” and create “financial resources”.
By the end of 2016, the administration of President Mauricio Macri agreed with opposition blocs to increase the sector’s tax in a move to counterbalance changes in the country’s income tax regime and collect USD 385M.
The 27346 Act set a national tax for gambling activities on electronic terminals and automated betting including all forms of its forms: chips, coins, bills and others.
Although the tax share was then set at 0.75 percent, the legislation authorized the government to either increase that number up to 50 percent of its value or reduce it.
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