The lower house of Argentina’s parliament has approved a bill to raise taxes on the gambling industry.
If passed by the Senate, the tax on slot machines will be increased to 10 percent of revenue and online betting, which operates outside any formal regulatory framework, will be taxed at 7.5 percent.
The aim is to raise the equivalent of US$378 million a year.
Sponsored by opposition parties, the bill is part of a broader plan to amend the country’s income tax structure.
It’s not certain how the measure will fare in the Senate, and press reports indicate that President Mauricio Macri is likely to veto it in any event.
The proposed hikes come amidst a nationwide strike by workers across all sectors of the industry?lotteries, casinos, bingos and racetracks?and union leaders are said to oppose them, fearing the negative impact on operators and the possibility of spending cuts and layoffs.
