Zilon
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 15, 2021, 06:17:29 AM |
|
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.
Gambling unlike other forms of investment comes with lots of risk. Most of the citizens and inhabitants gets addictive and starts engaging in criminal activities so as to raise funds for their gambling activities. In this case you might not blame tax operators for their decision. In a bid to raise cash for the financial year amid the struggles caused by the Covid-19 pandemic, Treasury Cabinet Secretary Ukur Yattani has reintroduced the tax, which was removed by President Uhuru Kenyatta in July last year.
“Excise duty on betting at 20% of the amount will be wagered,” said Yattani, which would mean that the amount would be levied and passed on to a person who has won on a bet, which according to Yattani would also help discourage betting in the country.
For any country it's good to have it's government regulate the way gambling is been practiced using different approach in which taxation is one of it. Most gamblers lack self decipline and low emotional control. Many can't even engage in self exclusion and all this can cause heavy choas for them as individuals. I think using taxation as a means of discouraging gambling might go a long way to help
|
|
|
|
virasisog
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 15, 2021, 06:37:11 AM |
|
One effect of the high taxes: Maybe the high taxes a meant to discourage Gamblers from playing a lot because this pandemic can turn users into addicts and this is one way to slow the process down.
The other effect from these high rates is going completely anonymous which means a missed opportunity for the government to collect revenue from gamblers as they will find alternative places to play the games they love.
That is one of the main reason why sin taxes are higher compared to other forms of taxes. To discourage people from gambling, smoking, or drinking alcohol. Gambling is a big industry and it is one of the main sources of income for the government as a whole. It is not just taxes but it attracts tourists as well.
|
|
|
|
swogerino
Legendary
Offline
Activity: 3262
Merit: 1244
Top Crypto Casino
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 15, 2021, 08:47:42 AM |
|
I think there is no problem for well established casinos with a lot of turnover money monthly or yearly to pay this amount of tax.However the government should make a clear example when they are forced to pay it and not force every single casino to pay it.An example would be a casino who makes let's say 50 million dollars turnover a year should pay this tax and one that makes let's say up to 20 million dollars is excluded from paying it.There should be some regulation to this kind of excessive tax and should not be forced to anyone.
|
|
|
|
Oshosondy
Legendary
Offline
Activity: 1554
Merit: 1167
Gamble responsibly
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 15, 2021, 08:57:06 AM |
|
That is one of the main reason why sin taxes are higher compared to other forms of taxes. To discourage people from gambling, smoking, or drinking alcohol. Gambling is a big industry and it is one of the main sources of income for the government as a whole. It is not just taxes but it attracts tourists as well.
Did you mean gambling taxes collected by the government are because of sin? I think that word should not be used here. Also what you meant by 'it is not just taxes but it attracts tourists as well'? No government that allowed gambling in there country see it as a sin, so far it is allowed, but are only taxing gamblers as a form of internally generated revenue and nothing more.
|
|
|
|
madnessteat
Legendary
Offline
Activity: 2352
Merit: 2168
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 15, 2021, 01:23:00 PM |
|
I think there is no problem for well established casinos with a lot of turnover money monthly or yearly to pay this amount of tax.However the government should make a clear example when they are forced to pay it and not force every single casino to pay it.An example would be a casino who makes let's say 50 million dollars turnover a year should pay this tax and one that makes let's say up to 20 million dollars is excluded from paying it.There should be some regulation to this kind of excessive tax and should not be forced to anyone.
I support your point of view. Taxes should be more differentiated, because this will not only allow many companies to stay in the market, which will increase the budget, but also contribute to a healthier competition in the market.
|
| . .Duelbits. | │ | | │ | ▄▄█▄▄░░▄▄█▄▄░░▄▄█▄▄ ███░░░░███░░░░███ ▀░░░▀░░▀░░░▀░░▀░░░▀ ▄░░░░░░░░░░░░ ▀██████████ ░░░░░███░░░░▀ ░░█░░░███▄█░░░█ ░░██▌░░███░▀░░██▌ ░█░██░░███░░░█░██ ░█▀▀▀█▌░███░░█▀▀▀█▌ ▄█▄░░░██▄███▄█▄░░▄██▄ ▄███▄ ░░░░▀██▄▀ | . REGIONAL SPONSOR | | ███▀██▀███▀█▀▀▀▀██▀▀▀██ ██░▀░██░█░███░▀██░███▄█ █▄███▄██▄████▄████▄▄▄██ ██▀ ▀███▀▀░▀██▀▀▀██████ ███▄███░▄▀██████▀█▀█▀▀█ ████▀▀██▄▀█████▄█▀███▄█ ███▄▄▄████████▄█▄▀█████ ███▀▀▀████████████▄▀███ ███▄░▄█▀▀▀██████▀▀▀▄███ ███████▄██▄▌████▀▀█████ ▀██▄███▀██▄█▄▄▄██▄████▀ ▀▀██████████▄▄███▀▀ ▀▀▀▀█▀▀▀▀ | . EUROPEAN BETTING PARTNER | |
|
|
|
l3pox
Legendary
Offline
Activity: 2632
Merit: 1156
There's no need to be upset
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 16, 2021, 12:53:20 PM |
|
That is one of the main reason why sin taxes are higher compared to other forms of taxes. To discourage people from gambling, smoking, or drinking alcohol. Gambling is a big industry and it is one of the main sources of income for the government as a whole. It is not just taxes but it attracts tourists as well.
Did you mean gambling taxes collected by the government are because of sin? I think that word should not be used here. Also what you meant by 'it is not just taxes but it attracts tourists as well'? No government that allowed gambling in there country see it as a sin, so far it is allowed, but are only taxing gamblers as a form of internally generated revenue and nothing more. just a small point to sum up on the discussion, on the book "Debt - the first 5000 years", David Graeber talks about the "flesh debts" and how many people in different cultures believe we are born in debt. Of course with the entanglement between church and state many would still justify increasing taxes because "we already have a moral debt anyway", even though the solution for many of the world problems is to have smaller states and give people freedom to choose, with ethics and education.
|
| | . .Duelbits│SPORTS. | | | ▄▄▄███████▄▄▄ ▄▄█████████████████▄▄ ▄███████████████████████▄ ███████████████████████████ █████████████████████████████ ███████████████████████████████ ███████████████████████████████ ███████████████████████████████ █████████████████████████████ ███████████████████████████ ▀████████████████████████ ▀▀███████████████████ ██████████████████████████████ | | | | ██ ██ ██ ██
██ ██ ██ ██
██ ██ ██ | | | | ███▄██▄███▄█▄▄▄▄██▄▄▄██ ███▄██▀▄█▄▀███▄██████▄█ █▀███▀██▀████▀████▀▀▀██ ██▀ ▀██████████████████ ███▄███████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ▀█████████████████████▀ ▀▀███████████████▀▀ ▀▀▀▀█▀▀▀▀ | | OFFICIAL EUROPEAN BETTING PARTNER OF ASTON VILLA FC | | | | ██ ██ ██ ██
██ ██ ██ ██
██ ██ ██ | | | | 10% CASHBACK 100% MULTICHARGER | │ | | │ |
|
|
|
tabas
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 16, 2021, 04:42:33 PM |
|
I think there is no problem for well established casinos with a lot of turnover money monthly or yearly to pay this amount of tax.However the government should make a clear example when they are forced to pay it and not force every single casino to pay it.An example would be a casino who makes let's say 50 million dollars turnover a year should pay this tax and one that makes let's say up to 20 million dollars is excluded from paying it.There should be some regulation to this kind of excessive tax and should not be forced to anyone.
I agree, there has to be a threshold for which is going to pay this and that amount for the taxes. Well, the government knows that casinos are earning huge amount yearly and that's why they're the easiest industry to put tax with.
|
|
|
|
dothebeats
Legendary
Offline
Activity: 3738
Merit: 1354
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 16, 2021, 05:57:29 PM |
|
The aggressive taxation imposed on gambling-related industries are to possibly deter the owner on expanding its operations on a country, not unless the country relies heavily on the industry for generating jobs and gaining a lot of economic advantage on the said industry, for example in Macau (though technically not a country). If the population only spends on gambling and losing it there, what money is there left to circulate on the economy? Perhaps this is the government’s reasoning and I couldn’t blame them, really.
|
|
|
|
Oshosondy
Legendary
Offline
Activity: 1554
Merit: 1167
Gamble responsibly
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 16, 2021, 06:22:44 PM |
|
The aggressive taxation imposed on gambling-related industries are to possibly deter the owner on expanding its operations on a country, not unless the country relies heavily on the industry for generating jobs and gaining a lot of economic advantage on the said industry, for example in Macau (though technically not a country). If the population only spends on gambling and losing it there, what money is there left to circulate on the economy? Perhaps this is the government’s reasoning and I couldn’t blame them, really.
It is not hard for the government to ban gambling in their country, this is very common in some countries of the world, while some countries see it differently because knowing of taxes and how they can effective generate taxes from gambling companies. I do not think any government wants to deter the owner of a gambling companies to expand nor doing anything that can discourage people from not gambling, but they need more revenue is their target.
|
|
|
|
milewilda
Legendary
Offline
Activity: 3220
Merit: 1150
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 16, 2021, 06:47:06 PM |
|
The aggressive taxation imposed on gambling-related industries are to possibly deter the owner on expanding its operations on a country, not unless the country relies heavily on the industry for generating jobs and gaining a lot of economic advantage on the said industry, for example in Macau (though technically not a country). If the population only spends on gambling and losing it there, what money is there left to circulate on the economy? Perhaps this is the government’s reasoning and I couldn’t blame them, really.
It is not hard for the government to ban gambling in their country, this is very common in some countries of the world, while some countries see it differently because knowing of taxes and how they can effective generate taxes from gambling companies. I do not think any government wants to deter the owner of a gambling companies to expand nor doing anything that can discourage people from not gambling, but they need more revenue is their target. Depends on the countries economical capacity or capability because there are countries which can really stand without really needing much about gambling business revenue and this is why you can see that there are countries that do ban it no matter what and been minding much about their citizens protection about gambling addiction and since they can cope up with other source in terms of taxation then that wont really be an issue but for most countries where gambling business is one of their main source in terms of revenue so it really hard to believe that it would be completely banned so easily.
|
|
|
|
Oshosondy
Legendary
Offline
Activity: 1554
Merit: 1167
Gamble responsibly
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 16, 2021, 06:56:05 PM |
|
Depends on the countries economical capacity or capability because there are countries which can really stand without really needing much about gambling business revenue and this is why you can see that there are countries that do ban it no matter what and been minding much about their citizens protection about gambling addiction and since they can cope up with other source in terms of taxation then that wont really be an issue but for most countries where gambling business is one of their main source in terms of revenue so it really hard to believe that it would be completely banned so easily.
Do not mind me to talk more of religion here, most countries that ban gambling is not because they rely on the taxes or not, like in Islam, gambling is forbidden, which means they ban it because of their religion. There may be some other religions that speak bad of gambling, and forbid it, they can also ban it like in the Muslim countries. Banning gambling is more of religion, it is not about taxes or no tax. This is my own opinion.
|
|
|
|
RealMalatesta
Legendary
Offline
Activity: 2338
Merit: 1124
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 16, 2021, 08:04:48 PM |
|
Well do what American companies do; overseas headquarters. You can always do something like that to move the money away, you never have to pay taxes if you made a loss, and all you have to do is pay some "software company" someone in cayman islands all your profits and then some and provide a loss, that way you will be capable of not paying taxes.
This is what capitalism teaches us, pay no taxes, get bail outs from tax payers expense, and do not pay livable wages and let tax payers pay for subsidies to help your workers. The real question here should not be "why does gambling companies pay high taxes", and it is disgusting that casinos wants it to be lowered. The real question is why other places pay low taxes? We should not be asking to lower taxes of casinos, we should be asking for others to pay as much too so we can help poor people with the tax income.
|
|
|
|
Fortify
Legendary
Offline
Activity: 2772
Merit: 1198
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 16, 2021, 08:14:09 PM |
|
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. In a bid to raise cash for the financial year amid the struggles caused by the Covid-19 pandemic, Treasury Cabinet Secretary Ukur Yattani has reintroduced the tax, which was removed by President Uhuru Kenyatta in July last year.
“Excise duty on betting at 20% of the amount will be wagered,” said Yattani, which would mean that the amount would be levied and passed on to a person who has won on a bet, which according to Yattani would also help discourage betting in the country.
But AFC Leopards chairman Dan Shikanda and Gor Mahia chairman Ambrose Rachier argue that the tax will negatively affect betting companies supporting local teams and lead to the withdrawal of their much-needed sponsorship.
Both Shikanda and Rachier explained that betting firms have consistently supported football in the country, cumulatively delivering Sh1.6bn (US$14.8m) from 2016 to 2020, and therefore should not be punished through stricter tax measures.
In the statement, Shikanda and Rachier said the return of the tax would cause current league sponsors BetKing to withdraw their sponsorship, explaining that the excise tax was one of the reasons why SportPesa left the Kenyan market in 2018.
“The enactment of the 20% excise tax will unequivocally rule out continued sponsorship of football clubs across all tiers (National Super League, Division 1 and County Leagues), with the net effect of rendering the operations of most of the league teams unsustainable,” the joint statement read. Now this is not just : Unsustainable and unreasonable but according to them "ill timed", their whole sponsorships will be effected. This high taxation will also cause gamblers sore. During pandemic the gambling is a huge income source for them and the government alike. Therefore I do believe that either they should have done it slowly or done it after the pandemic. They are now asking the government to reconsider it. {This is exactly the kind of news we need because this shows how the democratic countries can move forth and oppose such things, not always the tax is legit if served by the government during such times} What do you think ? The funny part is the average person thinking that these people are in any way helping society. The world would be a much better place if every country around the world had identical tax laws and the millionaire/billionaire owners behind the biggest companies in the world were not able to hire teams of lawyers and accountants to figure out every loophole imaginable. Society loses every time these jackals and hyenas are able to burrow away ever more of their gains, inequality keeps on growing and democracies become ever weaker in the face of walls of money. Tax most definitely should be fair and capitalism is a good thing, but it needs strong regulations and politicians who can out-think the lobbyists sent to corrupt them against the public good.
|
|
|
|
R |
▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | | | 4,000+ GAMES███████████████████ ██████████▀▄▀▀▀████ ████████▀▄▀██░░░███ ██████▀▄███▄▀█▄▄▄██ ███▀▀▀▀▀▀█▀▀▀▀▀▀███ ██░░░░░░░░█░░░░░░██ ██▄░░░░░░░█░░░░░▄██ ███▄░░░░▄█▄▄▄▄▄████ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ | █████████ ▀████████ ░░▀██████ ░░░░▀████ ░░░░░░███ ▄░░░░░███ ▀█▄▄▄████ ░░▀▀█████ ▀▀▀▀▀▀▀▀▀ | █████████ ░░░▀▀████ ██▄▄▀░███ █░░█▄░░██ ░████▀▀██ █░░█▀░░██ ██▀▀▄░███ ░░░▄▄████ ▀▀▀▀▀▀▀▀▀ |
| | | | | | .
| | | ▄▄████▄▄ ▀█▀▄▀▀▄▀█▀ ▄▄░░▄█░██░█▄░░▄▄ ▄▄█░▄▀█░▀█▄▄█▀░█▀▄░█▄▄ ▀▄█░███▄█▄▄█▄███░█▄▀ ▀▀█░░░▄▄▄▄░░░█▀▀ █░░██████░░█ █░░░░▀▀░░░░█ █▀▄▀▄▀▄▀▄▀▄█ ▄░█████▀▀█████░▄ ▄███████░██░███████▄ ▀▀██████▄▄██████▀▀ ▀▀████████▀▀ | . ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ ░▀▄░▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄░▄▀ ███▀▄▀█████████████████▀▄▀ █████▀▄░▄▄▄▄▄███░▄▄▄▄▄▄▀ ███████▀▄▀██████░█▄▄▄▄▄▄▄▄ █████████▀▄▄░███▄▄▄▄▄▄░▄▀ ████████████░███████▀▄▀ ████████████░██▀▄▄▄▄▀ ████████████░▀▄▀ ████████████▄▀ ███████████▀ | ▄▄███████▄▄ ▄████▀▀▀▀▀▀▀████▄ ▄███▀▄▄███████▄▄▀███▄ ▄██▀▄█▀▀▀█████▀▀▀█▄▀██▄ ▄██▀▄███░░░▀████░███▄▀██▄ ███░████░░░░░▀██░████░███ ███░████░█▄░░░░▀░████░███ ███░████░███▄░░░░████░███ ▀██▄▀███░█████▄░░███▀▄██▀ ▀██▄▀█▄▄▄██████▄██▀▄██▀ ▀███▄▀▀███████▀▀▄███▀ ▀████▄▄▄▄▄▄▄████▀ ▀▀███████▀▀ | | OFFICIAL PARTNERSHIP SOUTHAMPTON FC FAZE CLAN SSC NAPOLI |
|
|
|
Rengga Jati
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 16, 2021, 10:36:32 PM |
|
-snip-
Actually, there are still many countries in which the taxes are much higher than it, more than 20%. But yeah, it will depend on how gambling itself in the country and how the companies. Many big companies of gambling should not too worried about this because it may be only part little of the profits. However, yeah, not all gambling companies are successful and many are new to the world so that the taxes seem very high. I don't know why but currently, there are so many issues about rising or existing any tasks in gambling and also in the crypto world. In this word , the governance really picks the right chance to get money from the companies and all people many more.
|
|
|
|
Oceat
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 16, 2021, 10:44:16 PM |
|
Depends on the countries economical capacity or capability because there are countries which can really stand without really needing much about gambling business revenue and this is why you can see that there are countries that do ban it no matter what and been minding much about their citizens protection about gambling addiction and since they can cope up with other source in terms of taxation then that wont really be an issue but for most countries where gambling business is one of their main source in terms of revenue so it really hard to believe that it would be completely banned so easily.
Do not mind me to talk more of religion here, most countries that ban gambling is not because they rely on the taxes or not, like in Islam, gambling is forbidden, which means they ban it because of their religion. There may be some other religions that speak bad of gambling, and forbid it, they can also ban it like in the Muslim countries. Banning gambling is more of religion, it is not about taxes or no tax. This is my own opinion. Banning of gambling in a city where gambling is forbidden yet some of them tried to play from it or even worse is they were addicted to it. Only the government can do such thing to ban gambling but it's not totally forbidden to the other. Now, Kenya city is different from what you have mentioned and gambling business does exist to a non-muslim countries so it has nothing to do about countries who ban gambling. On the topic, I believe there's something or someone behind it who made a deal like asking a 20% taxes to all casinos. I don't know if they know how much revenue does a casino made but I believe 20% is kind of too much. It's not fair to other businesses too.
|
3996
|
|
|
Hamphser
Sr. Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif) ![*](https://bitcointalk.org/Themes/custom1/images/star.gif) ![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 2590
Merit: 338
Vave.com - Crypto Casino
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 16, 2021, 10:48:24 PM |
|
-snip-
Actually, there are still many countries in which the taxes are much higher than it, more than 20%. But yeah, it will depend on how gambling itself in the country and how the companies. Many big companies of gambling should not too worried about this because it may be only part little of the profits. However, yeah, not all gambling companies are successful and many are new to the world so that the taxes seem very high. I don't know why but currently, there are so many issues about rising or existing any tasks in gambling and also in the crypto world. In this word , the governance really picks the right chance to get money from the companies and all people many more. Yes, there are which is higher than 20% which is way too much imho but those business owners would have any choice? If they wont follow on whats mandated then theres no operation for them so its a matter of choice for them neither they would deal with that high tax and continue to operate or just simply ignore and dont deal with it on whats been asked and completely shut off business. They are free to choose but surprisingly there are still business owners who do deal with those high tax because they do know that they can at least compensate it.
|
|
|
|
l3pox
Legendary
Offline
Activity: 2632
Merit: 1156
There's no need to be upset
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 17, 2021, 03:13:01 PM |
|
-snip-
Actually, there are still many countries in which the taxes are much higher than it, more than 20%. But yeah, it will depend on how gambling itself in the country and how the companies. Many big companies of gambling should not too worried about this because it may be only part little of the profits. However, yeah, not all gambling companies are successful and many are new to the world so that the taxes seem very high. I don't know why but currently, there are so many issues about rising or existing any tasks in gambling and also in the crypto world. In this word , the governance really picks the right chance to get money from the companies and all people many more. Yes, there are which is higher than 20% which is way too much imho but those business owners would have any choice? If they wont follow on whats mandated then theres no operation for them so its a matter of choice for them neither they would deal with that high tax and continue to operate or just simply ignore and dont deal with it on whats been asked and completely shut off business. They are free to choose but surprisingly there are still business owners who do deal with those high tax because they do know that they can at least compensate it. well, most of the times people have choices. of course for physical business it changes but online biz who wants to have their operations internationally usually find loopholes on the system and pays 0 taxes (or really low ones) on their operations. maybe they can consider 20% the cost of operating physicaly on a determined country I agree that 20% is high, this could be to try to discourage gambling industries, not fully sure about that.
|
| | . .Duelbits│SPORTS. | | | ▄▄▄███████▄▄▄ ▄▄█████████████████▄▄ ▄███████████████████████▄ ███████████████████████████ █████████████████████████████ ███████████████████████████████ ███████████████████████████████ ███████████████████████████████ █████████████████████████████ ███████████████████████████ ▀████████████████████████ ▀▀███████████████████ ██████████████████████████████ | | | | ██ ██ ██ ██
██ ██ ██ ██
██ ██ ██ | | | | ███▄██▄███▄█▄▄▄▄██▄▄▄██ ███▄██▀▄█▄▀███▄██████▄█ █▀███▀██▀████▀████▀▀▀██ ██▀ ▀██████████████████ ███▄███████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ███████████████████████ ▀█████████████████████▀ ▀▀███████████████▀▀ ▀▀▀▀█▀▀▀▀ | | OFFICIAL EUROPEAN BETTING PARTNER OF ASTON VILLA FC | | | | ██ ██ ██ ██
██ ██ ██ ██
██ ██ ██ | | | | 10% CASHBACK 100% MULTICHARGER | │ | | │ |
|
|
|
Fatunad
Sr. Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif) ![*](https://bitcointalk.org/Themes/custom1/images/star.gif) ![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 2310
Merit: 359
PredX - AI-Powered Prediction Market
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 17, 2021, 09:54:01 PM |
|
I think there is no problem for well established casinos with a lot of turnover money monthly or yearly to pay this amount of tax.However the government should make a clear example when they are forced to pay it and not force every single casino to pay it.An example would be a casino who makes let's say 50 million dollars turnover a year should pay this tax and one that makes let's say up to 20 million dollars is excluded from paying it.There should be some regulation to this kind of excessive tax and should not be forced to anyone.
I agree, there has to be a threshold for which is going to pay this and that amount for the taxes. Well, the government knows that casinos are earning huge amount yearly and that's why they're the easiest industry to put tax with. But it turns out to be abusive if they would set out bigger percentage than on casual business that exist on the market? Its understandable that they do earn more but the gap shouldnt really that big. Sad for those business owners as you wont really have any choice but to pay or else then they would close the business as simple as that.
|
|
|
|
qwertyup23
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 17, 2021, 10:25:59 PM |
|
One effect of the high taxes: Maybe the high taxes a meant to discourage Gamblers from playing a lot because this pandemic can turn users into addicts and this is one way to slow the process down.
The other effect from these high rates is going completely anonymous which means a missed opportunity for the government to collect revenue from gamblers as they will find alternative places to play the games they love.
I do support this view. The taxing power is limitless as it is one of the three (3) inherent powers of the government where they can exercise it for revenue or preventive measures. The twenty percent (20%) excise tax is imposed primarily to discourage the people from gambling due to its negative effects in the society. While this measure is not an absolute guarantee that businesses will opt not to enter the gambling industry, it is nevertheless a revenue measure for the government that will enable them to create projects from such revenue.
|
|
|
|
imstillthebest
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 17, 2021, 10:59:51 PM |
|
During pandemic the gambling is a huge income source for them and the government alike. Therefore I do believe that either they should have done it slowly or done it after the pandemic.
if they will done this after the pandemic they will get less income because people will have less time to spend in gambling but if they will do it now , people will be force to follow it just to continue playing a gambling but they can do it slowly and not shock the gamblers by applying the new tax rates .
|
|
|
|
|