Mexico to Impose 20% Excise Tax on Online Gambling FirmsReading Time: 1 minute

 

The Mexican government has unveiled plans to impose a 20% excise tax on online gambling firms.

Emmanuel Reyes Carmona, a member of the Chamber of Deputies, submitted a proposal to impose an excise tax on online gambling, which is likely to be approved without major objections. He pointed out that it is necessary to adopt specific laws and taxes that place online gambling on an equal footing to other segments in Mexico.

Now, considering that the most popular online casinos are based in Mexico, the industry’s reactions have not been positive, although they expect to come to an agreement with the government.

The online gambling segment is increasingly growing, especially as regards sports betting and more specifically football wagers. Mexicans are among the top bettors in the world, especially in events such as the World Cup or the Champions League.


Source: European Gaming Media
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