ALEA criticizes Argentinian budget plans which include tax increase on online gaming from 2-5% stakes
Argentinian Minister for the Economy, Martin Guzman, recently announced the budget changes that were set with the goal to help the country's finances in the wake of COVID-19.
The Association of Argentinian State Lotteries came out criticizing the tax hike, giving many reasons why increasing the tax would harm the industry, saying that tax on gambling will encourage the growth of illegal gambling, that the federal taxation violates the constitutional powers of provincial jurisdictions especially the autonomy of Buenos Aires, and that the increase in general would have a bad impact on local economies.
ALEA also noted that most provinces were considering moving towards regulating to help themselves out of the economic hit of the pandemic, saying that the gambling sector provides around a quarter of a million jobs and that these entities already pay taxes depending on which province they are.
Buenos Aires was the very firs region in the country to formalise gambling licensing criteria, managing to secure approval for gaming in February of 2020.
About SiGMA's revamped website:
SiGMA Group is excited to announce the launch of its newly revamped website. The website is currently available in 5 languages, English, Russian, Mandarin, Portuguese, and Spanish with plans to add another 5 languages over the coming months - namely French, Thai, Korean, Japanese, and Hindi.