Buenos Aires provincial government has scrapped the tax on casino winnings. María Eugenia Vidal, Governor of the Province of Buenos Aires has decided to not tax the winnings generated in December 2018 following an arrangement between gambling operators and trade workers.
The tax on winnings was introduced to fund the social welfare programs in the state. At that time, it was estimated that the tax on casino winnings would generate about 6,000 million pesos (USD 105 K) in tax revenue.
While the scrapping of tax is yet to be confirmed and published in the official government Gazette it is confirmed that the tax is obsolete.
Earlier this year in March, Governor María Eugenia Vidal signed the regulatory decree making online sports betting legal in Buenos Aires Province, the capital of Argentina.
The “Decree” made available to the public and published in the Boletín Oficial which is the government gazette in Argentina outlined the regulations to ensure the implementation of the statutory laws on the electronic machines, casino games, esports betting, lotteries, horse racing betting and wagers on real sporting and non-sporting events
The provincial government can give a total of seven licenses. NO operator can have two licenses, and those willing to obtain the permits in the province will have to register with the regulatory body.
The online betting scene is becoming popular in Buenos Aires. As such, with top gambling operators eyeing at the Latin American market, Betway and Bet365 have applied for a sports gambling license in Buenos Aires.