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A 20% Excise Tax on Online Gambling Firms About to be Imposed in Mexico

Mexico

A new 20% excise tax is in the works in Mexico for online gambling operators. It is the result of a proposal by Emmanuel Reyes Carmona, a member of the Chamber of Deputies.

The plan is likely to find approval without undue objections. Carmona believes that specific laws and taxes are needed in this sector to keep it consistent with other gambling segments in the country.

It is not yet well known that some of the most popular online casinos are based in Mexico. The industry is not responding favourably, however, with considerable criticism. An agreement with the Mexican government could help.

The time is ripe as online gambling is experience growth, particularly sports betting and football wagering.
In fact, Mexicans are among the top bettors in the world. You can see this at the time of the World Cup and the Champions League.

Source: https://europeangaming.eu/portal/latest-news/2019/11/11/58327/mexico-to-impose-20-excise-tax-on-online-gambling-firms/

About the author

Carol Kay

Carol Kay

Carol Kay is an American editor and writer living in California with a background in business and finance, health and fitness and popular culture. She is the author of numerous books and articles on a variety of subjects. She is dedicated to disseminating information of public import on the internet.

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