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ECONOMY | 24-04-2018 11:28

Confirmed: Netflix, Spotify will pay IVA sales tax in Argentina

Consumers will now pay an additional 21 percent for streaming and download services.

From tomorrow, online content providers like Netflix and Spotify will pay Argentina’s IVA goods and services tax.

The government formalised its decision to apply the 21-percent tax on all digital services providing transmission or download of movies, series, music and games, by means of a presidential decree.

The decree establishes that consumers bear the additional cost for the services they subscribe to.

In early 2016, Netflix had an estimated viewership in Argentina of around 1.5 million people, the company's third largest audience in Latin America.

A market study conducted by Spotify and TNS Research in 2017 found that Spotify's online music streaming service reached 77 percent of all Argentines and 91 percent of all young Argentines.

-TIMES

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