Big companies finally had enough of the excessive tax

[michellee]

Going to other countries is somewhat a hassle thing to be done by a business owner considering on overall expense that you would need then that would really be a headache

unless if your business is already too big and you can support all the possible expenses then its your choice but i would say that it is much better to deal with higher tax instead.

If you do saw your business can still sustain despite of additional tax then i dont see the worth of transferring to other countries just for that sole reason.

If they do not mind to moves to other countries because they do not want to pay high taxes, they will do that because the business owner will do many things to have less expense. But if they can sustain with all things and even get a profit, they will not do that.

But before the business owner opens their business, they already have to know how much their expenses every month. Maybe it's not about the right amount, but they have the calculation about that. They also discuss that with their consultant so the business owner can get help from them.

would be curious to have the data on how many business close each year solely by the fact that they didnt do the correct calculations if they are profitable or not after-tax

regarding gambling, tax are problably not the biggest problem since the margins are quite high, am I out of my mind?
how high are the margins for casinos? (probably a huge difference for physical vs. digital too here

The only data will be in the government hand and the government will not give that data to the public. Maybe if you contact the business owner and ask them about that, you will know the data. But I guess they will not give that data easily as we do not relate to them. I am not sure about the difference, but the physical casino will be the government's main concern.

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[mv1986]

Going to other countries is somewhat a hassle thing to be done by a business owner considering on overall expense that you would need then that would really be a headache

unless if your business is already too big and you can support all the possible expenses then its your choice but i would say that it is much better to deal with higher tax instead.

If you do saw your business can still sustain despite of additional tax then i dont see the worth of transferring to other countries just for that sole reason.

If they do not mind to moves to other countries because they do not want to pay high taxes, they will do that because the business owner will do many things to have less expense. But if they can sustain with all things and even get a profit, they will not do that.

But before the business owner opens their business, they already have to know how much their expenses every month. Maybe it's not about the right amount, but they have the calculation about that. They also discuss that with their consultant so the business owner can get help from them.

would be curious to have the data on how many business close each year solely by the fact that they didnt do the correct calculations if they are profitable or not after-tax

regarding gambling, tax are problably not the biggest problem since the margins are quite high, am I out of my mind?
how high are the margins for casinos? (probably a huge difference for physical vs. digital too here

The only data will be in the government hand and the government will not give that data to the public. Maybe if you contact the business owner and ask them about that, you will know the data. But I guess they will not give that data easily as we do not relate to them. I am not sure about the difference, but the physical casino will be the government's main concern.

Not sure if that data is of any value because if a company fails to make correct calculations whether or not they can operate at a profitable level, it is solely them who are to blame. I mean they could of course consult tax advisories and certainly get accurate data. That's nothing you could blame a government or any tax rate for. That's the responsibility of any and all businesses.

[tabas]

The big companies in gambling eventually had extra taxes because the government increased the amount of taxes when the economy went down because of inflation more gamblers are addicted to gambling because they have higher taxes so many gamblers give up gambling and do not pay taxes.

Gamblers has to pay taxes too unless they keep winning and they know that there's a responsibility but if it's more of losing, then there's nothing that they can pay taxes because they've gain nothing. But for the bigger companies, they're the ones that usually pay taxes, bigger taxes and if the government says that they have to pay with an increased tax percentage, they have to follow the order.

[mv1986]

The big companies in gambling eventually had extra taxes because the government increased the amount of taxes when the economy went down because of inflation more gamblers are addicted to gambling because they have higher taxes so many gamblers give up gambling and do not pay taxes.

Gamblers has to pay taxes too unless they keep winning and they know that there's a responsibility but if it's more of losing, then there's nothing that they can pay taxes because they've gain nothing. But for the bigger companies, they're the ones that usually pay taxes, bigger taxes and if the government says that they have to pay with an increased tax percentage, they have to follow the order.

Heavily depends on the country you are living in. I know some countries raise quite hefty taxes for gambling, but a lot of countries raise no taxes or very close to zero. There are a lot of European countries who raise no taxes for gambling.

[Lucasgabd]

Going to other countries is somewhat a hassle thing to be done by a business owner considering on overall expense that you would need then that would really be a headache

unless if your business is already too big and you can support all the possible expenses then its your choice but i would say that it is much better to deal with higher tax instead.

If you do saw your business can still sustain despite of additional tax then i dont see the worth of transferring to other countries just for that sole reason.

If they do not mind to moves to other countries because they do not want to pay high taxes, they will do that because the business owner will do many things to have less expense. But if they can sustain with all things and even get a profit, they will not do that.

But before the business owner opens their business, they already have to know how much their expenses every month. Maybe it's not about the right amount, but they have the calculation about that. They also discuss that with their consultant so the business owner can get help from them.

would be curious to have the data on how many business close each year solely by the fact that they didnt do the correct calculations if they are profitable or not after-tax

regarding gambling, tax are problably not the biggest problem since the margins are quite high, am I out of my mind?
how high are the margins for casinos? (probably a huge difference for physical vs. digital too here

The only data will be in the government hand and the government will not give that data to the public. Maybe if you contact the business owner and ask them about that, you will know the data. But I guess they will not give that data easily as we do not relate to them. I am not sure about the difference, but the physical casino will be the government's main concern.

probably varies from country to country but some countries have data-checking agencies that are independent from the government, this could be a way.

Not sure if that data is of any value because if a company fails to make correct calculations whether or not they can operate at a profitable level, it is solely them who are to blame. I mean they could of course consult tax advisories and certainly get accurate data. That's nothing you could blame a government or any tax rate for. That's the responsibility of any and all businesses.

I agree with part of your point but in some countries the process of running a business could be much easier and have less bureaucracy

 

Inflation is in fact a tax, for example if the government wants a million dollars in additional cash on their coffers how they do this? They can do this by raising taxes which brings them an additional million dollars, but people hate to be taxed even further so how to get one million dollars on their coffers but at the same time not produce that reaction from the population? They use the inflation tax, basically they just print one million dollars obtaining the same result that they will get by raising taxes, but this has the effect of raising prices, it makes the economy more unstable and it steals from the wealth of their citizens.

 And even more, inflation helps concentration of wealth to increase

have you heard of the Cantillon Effect?

[Shasha80]

The big companies in gambling eventually had extra taxes because the government increased the amount of taxes when the economy went down because of inflation more gamblers are addicted to gambling because they have higher taxes so many gamblers give up gambling and do not pay taxes.

Gamblers has to pay taxes too unless they keep winning and they know that there's a responsibility but if it's more of losing, then there's nothing that they can pay taxes because they've gain nothing. But for the bigger companies, they're the ones that usually pay taxes, bigger taxes and if the government says that they have to pay with an increased tax percentage, they have to follow the order.

Heavily depends on the country you are living in. I know some countries raise quite hefty taxes for gambling, but a lot of countries raise no taxes or very close to zero. There are a lot of European countries who raise no taxes for gambling.

Of course, the application of taxes to casinos depends on where the casino is located, because I agree each country imposes different rules and
taxes on gambling industry. Indeed, most casinos do not actually experience a tax increase, because raising taxes on casinos will have an impact
on reducing gambler interest. So it's not surprising that there are still many countries that don't raise taxes on casinos, because the government is
more focused on raising taxes for big companies right now.

[Silberman]

Inflation is in fact a tax, for example if the government wants a million dollars in additional cash on their coffers how they do this? They can do this by raising taxes which brings them an additional million dollars, but people hate to be taxed even further so how to get one million dollars on their coffers but at the same time not produce that reaction from the population? They use the inflation tax, basically they just print one million dollars obtaining the same result that they will get by raising taxes, but this has the effect of raising prices, it makes the economy more unstable and it steals from the wealth of their citizens.

 And even more, inflation helps concentration of wealth to increase

have you heard of the Cantillon Effect?

I have not heard about it but now I have, I took the time to look for it but it seems I was already familiar with its effects I just did not knew it had that name, after all we know that when the government prints money like it did during the crisis of 2007 it gave that money to the owners of big banks because they were too big to fail, but by saving them with all of that printed money they stole from the general population, a classic case of privatizing the profits and socializing the losses, and somehow governments think they can get away playing this game forever, fortunately now with bitcoin we have a currency that allows us to escape those effects and governments do not like this one bit.

[tabas]

The big companies in gambling eventually had extra taxes because the government increased the amount of taxes when the economy went down because of inflation more gamblers are addicted to gambling because they have higher taxes so many gamblers give up gambling and do not pay taxes.

Gamblers has to pay taxes too unless they keep winning and they know that there's a responsibility but if it's more of losing, then there's nothing that they can pay taxes because they've gain nothing. But for the bigger companies, they're the ones that usually pay taxes, bigger taxes and if the government says that they have to pay with an increased tax percentage, they have to follow the order.

Heavily depends on the country you are living in. I know some countries raise quite hefty taxes for gambling, but a lot of countries raise no taxes or very close to zero. There are a lot of European countries who raise no taxes for gambling.

Hey, thank you with that. It is true that it also depends to the country you are with. He's right that some countries are very open to have no taxes for their players.
But since most of the countries are imposing taxes to their people including the gamblers, that's what I've said in general.

[bryant.coleman]

Heavily depends on the country you are living in. I know some countries raise quite hefty taxes for gambling, but a lot of countries raise no taxes or very close to zero. There are a lot of European countries who raise no taxes for gambling.

There are two types of taxes. First one of the tax paid on winnings by the gamblers. As you have stated, this tax is zero in most of the European Union nations (because the gambling industry is already taxed, and if you tax the winnings as well, then it will account as double-taxing). But the winnings are taxable in countries such as USA and India. Now the second type of tax is the tax paid by casinos on their revenue. The OP is talking about this tax, and as far as I know, all the EU nations have very high tax rates for the gambling businesses.

[mv1986]

Heavily depends on the country you are living in. I know some countries raise quite hefty taxes for gambling, but a lot of countries raise no taxes or very close to zero. There are a lot of European countries who raise no taxes for gambling.

There are two types of taxes. First one of the tax paid on winnings by the gamblers. As you have stated, this tax is zero in most of the European Union nations (because the gambling industry is already taxed, and if you tax the winnings as well, then it will account as double-taxing). But the winnings are taxable in countries such as USA and India. Now the second type of tax is the tax paid by casinos on their revenue. The OP is talking about this tax, and as far as I know, all the EU nations have very high tax rates for the gambling businesses.

I am always happy to see guys like you add helpful information to whatever I say! Sure, I can't know it all but you are definitely right. Anyway, gambling and the winnings of it depend heavily on who we are dealing with!

[Lucasgabd]

Inflation is in fact a tax, for example if the government wants a million dollars in additional cash on their coffers how they do this? They can do this by raising taxes which brings them an additional million dollars, but people hate to be taxed even further so how to get one million dollars on their coffers but at the same time not produce that reaction from the population? They use the inflation tax, basically they just print one million dollars obtaining the same result that they will get by raising taxes, but this has the effect of raising prices, it makes the economy more unstable and it steals from the wealth of their citizens.

 And even more, inflation helps concentration of wealth to increase

have you heard of the Cantillon Effect?

I have not heard about it but now I have, I took the time to look for it but it seems I was already familiar with its effects I just did not knew it had that name, after all we know that when the government prints money like it did during the crisis of 2007 it gave that money to the owners of big banks because they were too big to fail, but by saving them with all of that printed money they stole from the general population, a classic case of privatizing the profits and socializing the losses, and somehow governments think they can get away playing this game forever, fortunately now with bitcoin we have a currency that allows us to escape those effects and governments do not like this one bit.

nice!

exactly, and adding to that the stock prices pump but most of the poor people dont invest in stock so there's also this extra information to the equation.

[tabas]

I am always happy to see guys like you add helpful information to whatever I say! Sure, I can't know it all but you are definitely right.

Hehe, although I'm sure that you've quoted wrongly you said it correctly.

Anyway, gambling and the winnings of it depend heavily on who we are dealing with!

And these companies are taxed heavily if they're in a country that taxes the industry higher.

[Saisher]

20%? Is this even real ? Most of the companies not related to gambling pay lower than 10% but not the same in Kenya when it comes to the sports gambling. Now the biggest football clubs have joined hands to oppose this rule.

It's such a bad time to implement it but you can't blamer a government that wants to have money coming in times of pandemic, but one of their reasons to prohibit people from gambling is a bad one, if they don't want people to gamble in their country they should ban gambling, they really want to justify their additional taxes to these gambling companies, which is also suffering from this pandemic.

[iv4n]

20%? Is this even real ? Most of the companies not related to gambling pay lower than 10% but not the same in Kenya when it comes to the sports gambling. Now the biggest football clubs have joined hands to oppose this rule.

It's such a bad time to implement it but you can't blamer a government that wants to have money coming in times of pandemic, but one of their reasons to prohibit people from gambling is a bad one, if they don't want people to gamble in their country they should ban gambling, they really want to justify their additional taxes to these gambling companies, which is also suffering from this pandemic.

Online gambling is flourishing... I guess you wanted to say that land-based casinos suffered from this pandemic, but it's not completely true! They had a long break, but in my country, they are still working well, despite everything!

Whom else to blame than governments? Government should work for the people, not for big companies! Simple as that! But we have totally opposite situation in most parts of the world, where government officials are getting rich while they help big companies/corporations to earn more and more!

[KTChampions]

Online gambling is flourishing... I guess you wanted to say that land-based casinos suffered from this pandemic, but it's not completely true! They had a long break, but in my country, they are still working well, despite everything!

Whom else to blame than governments? Government should work for the people, not for big companies! Simple as that! But we have totally opposite situation in most parts of the world, where government officials are getting rich while they help big companies/corporations to earn more and more!

Wasn't there a lockdown in your country? I thought the whole world went through this.
Judging by the fact that now all over the world severe discrimination is gradually being introduced against those who do not want to be vaccinated, online casinos will always have a good share of the gambling market.

[Silberman]

Of course, the application of taxes to casinos depends on where the casino is located, because I agree each country imposes different rules and
taxes on gambling industry. Indeed, most casinos do not actually experience a tax increase, because raising taxes on casinos will have an impact
on reducing gambler interest. So it's not surprising that there are still many countries that don't raise taxes on casinos, because the government is
more focused on raising taxes for big companies right now.

It depends on where you live, where I come from there are very heavy taxes applied to casinos to the point that a great deal of the money that casinos earn goes back to the government, but taking into account the change that we have seen in the preferences of the people that now prefer to gamble online this means that the casino owners can just move out of the country and establish their casino in a different jurisdiction and then still earn a lot of money and avoid having to pay such high taxes as technically they are now located in a more friendly jurisdiction, so raising taxes could have the opposite effect and instead reduce revenue even further thanks to this.

[iv4n]

Online gambling is flourishing... I guess you wanted to say that land-based casinos suffered from this pandemic, but it's not completely true! They had a long break, but in my country, they are still working well, despite everything!

Whom else to blame than governments? Government should work for the people, not for big companies! Simple as that! But we have totally opposite situation in most parts of the world, where government officials are getting rich while they help big companies/corporations to earn more and more!

Wasn't there a lockdown in your country? I thought the whole world went through this.
Judging by the fact that now all over the world severe discrimination is gradually being introduced against those who do not want to be vaccinated, online casinos will always have a good share of the gambling market.

Yes, there was a lockdown, and casinos didn't work! It's why I wrote they had a long break! After lockdown, they started with a shorter working time, but for some time they are working their "normal hours"! My sister is working in a casino, so it's where I get information about this... I am not going to land-based casinos!

I agree, online casinos are becoming more popular! But that doesn't mean that ground casinos will disappear! Some people simply like to visit them, and for them, gambling is about going there, talk with people, gambling... drinking coffee or something stronger while doing all that!

[Tumanggor]

I think 20% tax is a reasonable thing to be paid by offline/online casinos because their business is still good during this pandemic

~

Wasn't there a lockdown in your country? I thought the whole world went through this.
Judging by the fact that now all over the world severe discrimination is gradually being introduced against those who do not want to be vaccinated, online casinos will always have a good share of the gambling market.

online casinos are not affected by the lockdown at all, they even get more visitors IMO
then it's really not natural that online casinos are not willing to pay 20% tax when their income increases

[hahay]

20%? Is this even real ? Most of the companies not related to gambling pay lower than 10% but not the same in Kenya when it comes to the sports gambling. Now the biggest football clubs have joined hands to oppose this rule.

It's such a bad time to implement it but you can't blamer a government that wants to have money coming in times of pandemic, but one of their reasons to prohibit people from gambling is a bad one, if they don't want people to gamble in their country they should ban gambling, they really want to justify their additional taxes to these gambling companies, which is also suffering from this pandemic.

After all, the government should make other policies in this pandemic era regarding tax payments, in my country tax payments can be delayed during this pandemic and of course this policy is very good for the people's economy. At least there are loosened rules regarding taxes during the pandemic because after all, the government cannot only rely on income from taxes because there are still many from other sectors that can at least be income.

[yazher]

20%? Is this even real ? Most of the companies not related to gambling pay lower than 10% but not the same in Kenya when it comes to the sports gambling. Now the biggest football clubs have joined hands to oppose this rule.

It's such a bad time to implement it but you can't blamer a government that wants to have money coming in times of pandemic, but one of their reasons to prohibit people from gambling is a bad one, if they don't want people to gamble in their country they should ban gambling, they really want to justify their additional taxes to these gambling companies, which is also suffering from this pandemic.

Banning is the solution and if they wanted to get some money in a legal way from those companies, high taxes are the solution. That's why most of them are now closed because they cannot handle the heat and the excessive tax that has been implemented. But some of them didn't give it up as they create something alternative which will hide their activities from their government. But if they get caught, they will face serious charges which will lead them to pay more money.