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Argentina approves 150 percent increase in online gaming tax

argentina-approves-150-percent-increase-in-online-gaming-tax

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conomy Minister Martín Guzmán thanked the Congress for supporting his budget, which he considered a “key step in our journey: a nation that grows and that provides jobs and certainties.”

“Our economy’s recovery with macroeconomic stability is our horizon and the budget, our tool; and the key element in our strategy.”

With 139 votes in favor, 20 against, and 83 votes withheld, the Chamber of Deputies approved a National Budget that includes an increase from 2 percent to 5 percent in the online gambling tax rate in force.

The tax will be levied on any betting transaction made online, while the rate will be 10 percent on those operators based in countries with low or inexistent taxation rates, aka, “tax havens.”

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