Buenos Aires considers one off tax on gambling

Funds raised would be used to help fight the Coronavirus outbreak in the country.

Argentina.- Lawmakers in the city of Buenos Aires will consider a one-time tax on gambling in efforts to fund the fight against Coronavirus in Argentina.

The proposal put forward by the Frente de Todos coalition is a 1 per cent income tax on banks, gambling operators, online platforms and financial companies.

However, members from the Radical Civic Union, who were part of the previous government’s coalition, have opposed the proposal stating that the independent sector in the city is in need of more support, not taxation.

Members told La Política Online: “It’s not that easy, especially since the health sector was one that we prioritised.

“We believe that the independent sectors are the ones that suffered the most because of the crisis, they need our help.”

Santiago Roberto, Matías Berrotaveña and Manuel Socías have helped legislate the new proposals, and have argued that the health sector in the Argentinian capital has received the lowest budget in the last 13 years.

They said: “The health system needs to be endowed with resources, both physical and human. The latter need to receive good salaries and need to be protected.”

The fund generated from the proposed tax would be used to finance sanitary actions and social programs in the city of Buenos Aires.

If successful, the 1 per cent tax would only apply to Buenos Aires companies that generated more than $450,000 gross income in 2019.

Back on March 20, Argentina went into total mandatory lockdown to stop the spread of Coronavirus in the country. Casinos and other gaming outlets have been closed ever since.

Online gaming in Argentina has only been legal since last year, and it is thought many have switched to online during the pandemic.