Argentina’s Gambling Tax An Utter Flop

February 2, 2018 Taxation in Argentina

gambling taxBUENOS AIRES – Argentina’s online gambling tax has seen a spectacular failure, having brought in a total of ARS 0 during the course of 2017.

Argentina’s online gambling tax not only failed to bring in the revenues expected by the government, but also failed to raise any money at all in 2017, according to new information released in the local press.

From January 1st 2017 all online gambling activity of taxpayers in Argentina was subject to a federal tax of 2 percent.

The tax was meant to be collected by credit card issuers when a deposit was detected into the account of a gambling website, regardless of whether the operator was based in Argentina or not.

However, the tax has so far failed to raise any tax revenues as all payments into the gambling websites moved away from credit card payments and into other digital platforms or pre-paid cards.

When the tax was first tabled in front of legislators, it was estimated that the measure would bring in as much as ARS 1 billion per year.