Does implementing a tax on a gambling platform really help a country?

[traderethereum]

If we talk about tax, it will be one part of the country that will help the country grow and build facilities.
That is the pros of implementing the tax in all business and gambling as one of the income sources for the country contributing to growing the country's economy.
The cons are taxes sometimes too big than usual because the government needs more income to continue developing.
The percentage of the tax can be 10%-20% but that will depend on the government itself.
The people or gamblers should pay the taxes because they can make sure their country can develop and have more facilities. The result will be back to the people themselves.

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[lienfaye]

Tax is the blood of the economy, they make the public roads, the public schools, the public and government hospitals. Pros of taxing a gambling platform is that the government is able to get a really big tax since gambling houses earn a lot of money and close to zero losses in a day sometimes. Cons is that if the government is comprised of corrupt officials then the taxes will be for nothing.

Well said. Tax is really necessary to help build a better country and I think businesses like gambling casinos who are earning huge through their business has a responsibility to pay tax. It was like giving back for what they had, actually not only the businesses but every citizen who are earning above minimum are mandated to do so.

The only problem is (like what you also said) is the corrupt officials. If the money is in their hand they tend to be greedy and keep it for their own sake, though not all officials are acting like that.

[bitzizzix]

The gambling business is currently one of the interesting things used to overcome the problems of a country's global economy.
because the casino or house has a very large income, the taxes that must be paid to the government are also very large and really help the country's economy.
and countries that legalize gambling, firmly believe that this business can improve the country's economy because it is never empty of visitors and a place where people spend money.

[YuginKadoya]

I see a lot of threads here about some countries imposing a tax on gambling casinos. And each forum member has their own opinion about this type of topic.

Now I'm wondering, does implementing a tax on a gambling platform will really help a country?

- What are the pros and cons of it?
- What should be the proper tax percentage for you that they should impose.
- Will this be a bad thing for gamblers?

Also, are these governments capable of taxing online gambling casinos that we often use like stake, chips, etc...

In terms of Economic growth Tax is really needed for the country to grow money from the people will be used to build infrastructures, provide financial needs on Non-governmental organization, and provide financial needs on every aspect of project the government wants to establish in building a great country, but if the country will be corrupt then tax would surely be wasted,

So in terms if the government would want to inflict a larger tax on gambling I think it will be OK, and in a situation that we have now it will be a great help.

[worle1bm]

I see a lot of threads here about some countries imposing a tax on gambling casinos. And each forum member has their own opinion about this type of topic.

Now I'm wondering, does implementing a tax on a gambling platform will really help a country?

- What are the pros and cons of it?
- What should be the proper tax percentage for you that they should impose.
- Will this be a bad thing for gamblers?

Also, are these governments capable of taxing online gambling casinos that we often use like stake, chips, etc...

Tax is the only big source of revenue for the government and they need to collect it for gdp and economic as well as infrastructure development of the country ranking it up in list of top countries.Tax evasion and corruption are the main factors which hinder the countries growth.But if government impose taxes on casinos then they should allow them to legally operate also and have proper tax structure for them say fixed percentage not under Capital gains for players also.Taxes eventually reduces your income or profit and they should be utilised in most efficient manner.So if it is used properly and not too much high then it will create s equilibrium situation for every gambler.

[Jackl87]

I see a lot of threads here about some countries imposing a tax on gambling casinos. And each forum member has their own opinion about this type of topic.

Now I'm wondering, does implementing a tax on a gambling platform will really help a country?

- What are the pros and cons of it?
- What should be the proper tax percentage for you that they should impose.
- Will this be a bad thing for gamblers?

Also, are these governments capable of taxing online gambling casinos that we often use like stake, chips, etc...

I don't like the idea of a tax on profit that you made with gambling or betting. I know of course that the income of taxes is the engine that keeps countries running and enables investments into the infrastructure and so on. My problem with the gambling tax is, that the money that gamblers use for gambling was already taxed because, at least in most cases, they got that money from their job, which means they already paid wage tax for that. Now they risk this money for gambling because it's their hobby and for the case that they are successful and make some profit with it they have to pay taxes on that profits again. That kind of double taxation just sounds not fair to me.

[BTCLiz]

I see a lot of threads here about some countries imposing a tax on gambling casinos. And each forum member has their own opinion about this type of topic.

Now I'm wondering, does implementing a tax on a gambling platform will really help a country?

- What are the pros and cons of it?
- What should be the proper tax percentage for you that they should impose.
- Will this be a bad thing for gamblers?

Also, are these governments capable of taxing online gambling casinos that we often use like stake, chips, etc...

I don't like the idea of a tax on profit that you made with gambling or betting. I know of course that the income of taxes is the engine that keeps countries running and enables investments into the infrastructure and so on. My problem with the gambling tax is, that the money that gamblers use for gambling was already taxed because, at least in most cases, they got that money from their job, which means they already paid wage tax for that. Now they risk this money for gambling because it's their hobby and for the case that they are successful and make some profit with it they have to pay taxes on that profits again. That kind of double taxation just sounds not fair to me.

I strongly disagree with you. Usually a tax would also count for your winnings. E.g. you go into the casino with 100 USD. You leave it with 110 USD. So you will have to pay a tax just for the 10 USD in winnings. Your argument is as a consequnce quite bad, because there in no double-tax-evnt in this case.

[Jackl87]

I don't like the idea of a tax on profit that you made with gambling or betting. I know of course that the income of taxes is the engine that keeps countries running and enables investments into the infrastructure and so on. My problem with the gambling tax is, that the money that gamblers use for gambling was already taxed because, at least in most cases, they got that money from their job, which means they already paid wage tax for that. Now they risk this money for gambling because it's their hobby and for the case that they are successful and make some profit with it they have to pay taxes on that profits again. That kind of double taxation just sounds not fair to me.

I strongly disagree with you. Usually a tax would also count for your winnings. E.g. you go into the casino with 100 USD. You leave it with 110 USD. So you will have to pay a tax just for the 10 USD in winnings. Your argument is as a consequnce quite bad, because there in no double-tax-evnt in this case.

I know that in the case of a tax on gambling and betting you would only need to pay taxes on your potential winnings. I said that the money that you bring into the casino, which is the 100$ in your example, have already been taxed because i would assume in most cases that money was earned by means of occupation. So the 100$ where once like 130$ or so before you had to pay wage tax. Therefore i think that every profit that you make out of those already taxed 100$ should be free of any additional tax because, at least for me, that is double taxation. I am aware that this is also the case with profits from shares and interest, but I think it is just as wrong there.
It's ok that we have different opinions  .

[ShowOff]

The only problem is (like what you also said) is the corrupt officials. If the money is in their hand they tend to be greedy and keep it for their own sake, though not all officials are acting like that.

Never be afraid to say that almost all state officials are corrupt officials. Only a few of them are clean of illicit money from corruption and bribery because that is a fact of many countries today. We never know the actual amount of tax revenue from various source because they only announce the total amount without transparency. However, I only think positively that the tax will reduce the burden on the state and also help increase state treasury income.

[LogitechMouse]

Tax is one of the if not the most important thing in a country. Without it, there will be no developments in the country as a whole. No new roads, no new buildings, no infrastructures.
Implementing tax on a gambling platform or in this case, a casino will boost the economy as the government will get tax from their revenues. This is also the main reason why most of the countries are allowing casinos to be built on it because they will get huge taxes on it.

The sad thing in most of the countries is that, the government is getting a portion of the total tax of the countrymen and will be divided towards them for their personal uses. I don't want to use the word "all" since I believe that there are still good governments and uncorrupted governments but most of them are just greedy as f*ck.

[hahay]

Imposing taxes on online and offline gambling will certainly have a good impact on the country's finances, because taxes will certainly increase state income which of course has no bad impact from it. Gambling is entertainment for some people and not about obligatory activities so yes, applying taxes will not be a problem because after all, with taxes a country can develop better and there should be no problem about it.

[AicecreaME]

Tax is being use in public management, it keeps the economy circulating, without it, Government alone can't make anything for its country. Here in our country;

Source

Under a senate bill, which Roque said Duterte designated as “urgent,” offshore gaming operators must pay 5% tax on their gross gaming revenue, according to Senator Pia Cayetano, the measure's sponsor. It will also require foreigners employed in online casinos and their service providers to pay 25% income tax.

With this percentage of tax, it will slowly but surely (hopefully) will heal Philippines economy in this time of pandemic. Taxes could be a great help also to give citizens relief goods to help them to survive this pandemic. There's so much help of taxes, and taxes that casinos pays to the Government is the largest, if I'm not mistaken.

[Luzin]

Never be afraid to say that almost all state officials are corrupt officials. Only a few of them are clean of illicit money from corruption and bribery because that is a fact of many countries today. We never know the actual amount of tax revenue from various source because they only announce the total amount without transparency. However, I only think positively that the tax will reduce the burden on the state and also help increase state treasury income.

You are right, I think so even my country has actually formed an anti-corruption agency. For countries that legalize gambling and collect taxes from these activities, this will be detrimental. Although the nominal may be small, but if it is accumulated it will be big. I think all countries announce the same globally, they will need a lot of pages if it is made very detailed.

[3meek]

When it comes to online crypto casinos, taxes are a detriment because they can be factored in for different asset values, and there is no generally accepted regulation... I think this is bad for gamblers...
As for regular casinos, of course taxes are normal, as for any kind of business...

[michellee]

Never be afraid to say that almost all state officials are corrupt officials. Only a few of them are clean of illicit money from corruption and bribery because that is a fact of many countries today. We never know the actual amount of tax revenue from various source because they only announce the total amount without transparency. However, I only think positively that the tax will reduce the burden on the state and also help increase state treasury income.

You are right, I think so even my country has actually formed an anti-corruption agency. For countries that legalize gambling and collect taxes from these activities, this will be detrimental. Although the nominal may be small, but if it is accumulated it will be big. I think all countries announce the same globally, they will need a lot of pages if it is made very detailed.

Many countries have formed an anti-corruption, but it is still difficult to eradicate the corruption rooted in that country. The taxes that should give the country already cut off by the corrupt officers for themselves and no report about that. Instead of reducing the state's burden, the state can not even get the tax that they should get and the authorities can not found where that money. I think that is also happening to the gambling business because gambling businesses have people who protect them from paying less tax.

[uneng]

The most useful help through gambling for a country would be if common citizens were allowed to invest in bankroll of casinos to earn with the house. This way, benefits would be superior to any other achieved by taxes imposed by the government, because each citizen would see direct advantage on it, as there would be a constant extra income landing on their personal accounts from times to times, very different from indirect advantages we don't always see on practice when the government charges the tax and apply it somewhere we don't even know exactly. Worse yet, but not rare, when this money is stolen by authorities.

[acquafredda]

On the other hand, if decentralized crypto casinos would gain traction it would be almost impossible for regulators and tax authorities to get their taxes out. I mean, think about DeFi that is not controllable right now (talking about DAI, mainly since centralized stablecoins can get frozen) if the same concept would be applied to gambling tax authorities are going to have fun.
I am not following this anymore, are there any dex casinos?

[tabas]

I am not following this anymore, are there any dex casinos?

I think that there's still some in existence but it's hard to know if they really are actual dex casinos because that's what they're trying to say and describe themselves.
But if you look at their operations, you'll say that it's not a decentralized casino.

[adzino]

Aren't the casinos already taxed? As far as I know, all casinos have to pay a tax. Even crypto casinos, if they touch fiat, they will have to pay tax. And at least over here, if you play on a casino and win, you have to pay tax on your winnings. It's probably considered as an income tax (not sure about this though). I doubt there are any country out there that doesn't tax their casino. To answer your question, yes tax does help a country. Doesn't matter where the tax comes from, but it helps a country to develop and is one of the main sources of revenue for the government.

[Hamphser]

Aren't the casinos already taxed? As far as I know, all casinos have to pay a tax. Even crypto casinos, if they touch fiat, they will have to pay tax. And at least over here, if you play on a casino and win, you have to pay tax on your winnings. It's probably considered as an income tax (not sure about this though). I doubt there are any country out there that doesn't tax their casino. To answer your question, yes tax does help a country. Doesn't matter where the tax comes from, but it helps a country to develop and is one of the main sources of revenue for the government.

Every business does and its not a new thing because tax is the blood of a certain economy and we know on how important it is for a country so its just normal that those taxation are part of the norm.

Questioning if taxation is really helpful to a country? Yes it does because if it wasnt useful then it wouldnt really be existing at all.

Tax does play a vital role on an economy and its just normal that businesses would really be asked out to pay up some percentage tax
as part of their obligation.