Argentina’s Federal Administration of Public Revenue (AFIP) is responsible for collecting taxes, including those that have been established by the Argentinean gambling laws that govern the brick and mortar and online gaming industry.
As part of a proactive policy to improve tax collection, AFIP has now created a “Registration and Information System regarding the operation of gambling and sports betting services”, in order to “strengthen fiscal control over the revenue” from these sectors.
“As it has been done in other areas of the economy, it is favorable to establish a system that provides us information on the operations of these companies enterprises, through systems set up for the purpose. Registration and information systems current are effective tools for structuring fiscal control procedures and plans, aimed at optimizing actions with respect to the activities that contribute to the national economy,” states the official explanation provided by AFIP.
The financial oversight of the gambling industry will cover bingo games, slots and other electronic machines, casinos, as well as mobile, landline and internet betting in Argentina. Betting at racetracks, lotteries, raffles and sweepstakes are not included in these regulations.
Under the new system the brick-and-mortar operators must submit daily revenue reports, including wagers, payouts, tickets sold, rakes taken, etc. – as appropriate for each type of game.
Similarly, internet and mobile casino and sportsbook operators have to send in reports of the total bets placed by, as well as any winnings and bonuses paid out to, online players.
The agency hopes that continuous supervision will increase tax collection efficiency and effectiveness.