Pokapoka124
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June 16, 2021, 07:50:47 PM |
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Gambling sites are legitimate businesses so there is nothing wrong in the government taxing them. A business is only legitimate when you pay your taxes. Gambling platforms shouldn't evade taxes, they are not a charity organization
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el kaka22
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June 16, 2021, 08:24:15 PM |
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Implementing tax on everything helps a country, why would it be any different for gambling? I mean if you take a tax on selling water, tax on food, tax on income, tax on luxury, tax on entertainment basically tax on every single thing, if one dollar is spent somewhere governments take a tax on both side, the buyer pays vat and seller pays income tax, so something that is spent is nearly half tax in most nations.
So, why would it be any different for gambling? If you gamble then you need to pay a tax, if you lose then casino has to pay a tax, if you win then you have to pay a tax, hell be happy that they do not charge for wagering because in that case you would have to pay tax no matter if you win or lose, which is the case for many sectors. Which is why gambling is not a different situation, if you spend a dime, government charges you a tax.
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Fortify
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June 16, 2021, 09:32:25 PM |
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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...
- Certain countries do not tax winnings, I think this is a fair approach - tax the company running the show and making the the vast majority of the profits, do not tax the winner who may have stacked up many losses up to that point. Every country needs taxes to keep government and services running for the benefit of everyone, I don't see why gambling institutions should get any special treatment and they can actually be detrimental to society (creating addicts) so may be required to pay a premium for the extra burdens they create compared to say a company running nursing homes. - Maybe 5-10% over the standard company tax rate, as previously described they are a bit of a negative drain on society - doing more damage than providing positive benefits. - Casinos and bookmakers are money making machines, people are generally rubbish at properly determining odds but their ego thinks otherwise. Casinos with their fixed payouts and bookmakers with decades with of historical scores to go on will almost always have an advantage over normal players.
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dmamigo
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June 16, 2021, 09:40:37 PM |
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With such a huge craze nowadays with gambling platforms, governments are likely to tax gambling activities. Taxing will surely help them get more revenue. I am just wondering what will happen if they start implementing a tax on the users and the tax rate is quite high than the other taxes we generally pay to the government. That will be ridiculous for sure.
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robelneo
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June 16, 2021, 10:06:25 PM |
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Taxes are one of the lifelines of any government, it's been implemented since time immemorial and will continue to be a part of any government some governments are implementing harsh taxation, gambling casinos are one government cash cow, for a third world country like us taxing casinos helps our country to sustain our health care sectors and they are directing the taxes for this sector which badly needed funds to sustain their operation, I'm on it as long as the people who really need the services of this sector are met.
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stomachgrowls
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June 16, 2021, 11:00:07 PM |
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With such a huge craze nowadays with gambling platforms, governments are likely to tax gambling activities. Taxing will surely help them get more revenue. I am just wondering what will happen if they start implementing a tax on the users and the tax rate is quite high than the other taxes we generally pay to the government. That will be ridiculous for sure.
Specially these days where people are playing gambling online and there are statistics that there are indeed influx numbers for those people whom do play in the convenience of their own home. For government to impose taxes then its not a new thing.They will impose on things which they do seem taxable and we know on how tax works and whats the purpose of it. This doesnt only applied on gambling industry but in other businesses as well.Dont know what country doesnt implement any taxes on any businesses out there since this had been a casual stuff.
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Johnyz
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June 16, 2021, 11:05:15 PM |
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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. The risk of playing on DEX gambling is huge, i’d rather pay taxes using my winnings than to deal with any unlicensed gambling site because your money is on risk as always and you might not be able to get it since it’s DEX. I didn’t see any DEX gambling site because most of the gamblers are looking for a licensed site, paying taxes can help a country as long as there’s no corrupt politicians, so don’t worry about paying taxes many people needs it.
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cabron
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June 16, 2021, 11:20:29 PM |
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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. The risk of playing on DEX gambling is huge, i’d rather pay taxes using my winnings than to deal with any unlicensed gambling site because your money is on risk as always and you might not be able to get it since it’s DEX. I didn’t see any DEX gambling site because most of the gamblers are looking for a licensed site, paying taxes can help a country as long as there’s no corrupt politicians, so don’t worry about paying taxes many people needs it. Decentralized casinos are more of dapps that wallets will have to connect to their smartcontract to be able to play. This is going to make it hard for governments to actually take tax from them for they'd have to catch up with the technology. But when it comes to the government mandating casinos for tax is necessary and will help the country's economy. Its everyone's responsibility and they are not excluded from it.
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dunfida
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June 16, 2021, 11:41:59 PM |
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With such a huge craze nowadays with gambling platforms, governments are likely to tax gambling activities. Taxing will surely help them get more revenue. I am just wondering what will happen if they start implementing a tax on the users and the tax rate is quite high than the other taxes we generally pay to the government. That will be ridiculous for sure.
Taxing a user is not right in my opinion since they suffer from a stack of loses over time and that is not beneficial to either of them because if they continue to do that then they should've closed the casino operating gambling instead. They should put the taxes to the casinos because they get more money to gamblers specially to the potential gamblers. They make money from them and their winning is not that great compared to what they gained from all of the users or gamblers. This is how the government should do it in order to gain a right amount of taxes they needed specially in this pandemic season. The economy of each country is not that great if infected of the virus continue to rise.
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molsewid
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June 17, 2021, 02:52:33 AM |
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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.
As far as I know those gambling establishments especially those which are authorized by the government to legally operate pay a huge tax, well i'm not that sure for how much it's tax but here in our country the tax payed by the gambling establishments is a big help to rolled out our economy. I mean everything we've purchased has a tax even in a food service, food product I guess anything has a tax but it is nothing compared to tax of the gambling establishments. But on the other hand there are also gambling establishments here in our country which is said to be not paying tax properly.
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just_Alice
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June 17, 2021, 11:54:45 PM |
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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.
The thing is, in many countries gambling isn't legalized, so they run underground casinos and, naturally, they aren't taxed. And about the type of taxation - it largely depends on governmental policies. All of the countries that allow gambling require income taxes in different ranges (10-30%), some countries have additional gambling tax, related to the type of business you are running. And some (but not all) require winning tax. There are also policies that dictate different taxes depending on the amount of income the casino receives, as well as on the amount of winnings (e.g. if your winnings are lower than a certain established sum, you may be required to pay only fiat tax).
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owengtam09
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June 18, 2021, 09:28:05 AM |
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Implementing a tax on gambling will help a lot of people in every country. But it also depends on the government if they will never be corrupt then this will be a big help especially provide financial needs on Non-governmental organizations and provide financial needs on every aspect of the project that the government wants to establish in building a great country.
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Vaculin
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June 18, 2021, 09:33:39 AM |
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Any tax that the government will receive is considered as income, hence it will help in the financial aspect.
However, a country cannot just accept gambling operators and give them license without proper control, they should also look at the effect of the people within a country if overall it will not give a positive effect like it will increase the gambling addiction or the crime due to gambling, then there's no reason to be more aggressive in issuing a license, everything should be foreseen so risk could be managed.
The Philippines have POGO, these are gambling operators that are foreigners and cater only foreigners, so this way it will not make people addicted but the people will benefit from taxes through the government.
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YOSHIE
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June 18, 2021, 10:46:04 AM |
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Now I'm wondering, does implementing a tax on a gambling platform will really help a country?
Technically yes, certain countries automatically increase from the economy, apart from corporate tax revenues, mining, industry, land, buildings and so on, Gambling companies such as casinos are currently the largest income to cover the country's current economy, you certainly know the expenses that must be issued by the state are a larger percentage of taxes, including humanitarian aid and so on. Not a few countries that make tax rules against gambling companies, the percentage of gambling tax depends on the country, overall now i see a good effect, except: taxes are imposed for gambling players, but if for casino sites or houses it is fine. There are many good sides than bad, if the government imposes a tax on gambling companies.
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Kelvinid
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June 18, 2021, 11:08:27 AM |
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Any tax that the government will receive is considered as income, hence it will help in the financial aspect.
However, a country cannot just accept gambling operators and give them license without proper control, they should also look at the effect of the people within a country if overall it will not give a positive effect like it will increase the gambling addiction or the crime due to gambling, then there's no reason to be more aggressive in issuing a license, everything should be foreseen so risk could be managed.
The Philippines have POGO, these are gambling operators that are foreigners and cater only foreigners, so this way it will not make people addicted but the people will benefit from taxes through the government.
That's correct, allow foreign investors to invest and get the revenue through tax while protecting the people to gamble because the Philippines is a developing country, what it needs is to improve its infrastructure, create jobs and they can a good income from taxes revenue of the foreign operators.
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madnessteat
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June 18, 2021, 11:13:52 AM |
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Much of this depends on the level of corruption in the country. If the level of corruption is low, then of course any taxation will benefit the citizens, as the funds received from the budget will be used to solve important social problems, but the level of corruption is high, then it is likely to bring more negative consequences.
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DoublerHunter
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June 18, 2021, 11:30:16 AM |
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Much of this depends on the level of corruption in the country. If the level of corruption is low, then of course any taxation will benefit the citizens, as the funds received from the budget will be used to solve important social problems, but the level of corruption is high, then it is likely to bring more negative consequences.
^ Probably it is, one of the major reasons is the corruption and we know that even which country there is a corruption that happens. If the corruption will low there is a possible gambling tax that will really help the country and contribute a lot to the economic growth, that is why all gambling industries must under-regulated by the government and must be pay tax as revenue for the economic growth. How can I imagine there is a huge fund that comes from the gambling tax, 10-30% of all profit from gambling for the tax share is a really big amount.
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Xinarae*
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June 18, 2021, 11:57:05 AM |
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Most countries impose a tax on gambling but it does not last long many do not want to pay taxes. In this situation the government is in the process of bringing the institutions under registration two companies have already registered for VAT the government wants to bring the organizations under registration by formulating laws or policies then besides collecting revenue propaganda can also be stopped using these platforms. But there is no government intervention in online gambling not everyone loses money at will and makes a profit.
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Desmong
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Crypto bookmaker and casino
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June 18, 2021, 12:17:43 PM |
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Tax implementation on gambling platform are mostly done by majority of developed countries which are means to track down online enterprises in making sure that due obligations are enforced. Developing and less developed countries has no time or system to track down online business enterprises maybe because of their less exposure and corruption in the taxing system.
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shield132
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June 18, 2021, 12:24:10 PM |
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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...
Not everything depends on the percentage of tax but on the government. If there is corruption in the country and the government takes the budget in their pocket and businesses, then high taxes are a catastrophe for people. If the country is similar of Germany that wisely spends the money, then high taxes are good but not that high as Germany has. Btw this country is a good example, I have seen people here who are even willing to pay more than 42-45% taxes for their country and people. In exchange, they have free universities, amazing healthcare and insurance, good infrastructure, etc. Personally, despite the fact that I am in the gambling industry, still think that high taxes there are good for the country and it's okay if the business gets less profitable, at least it will benefit society. Gambling looks like this: Those who have a surplus of money play in casinos, then this casino gets taxed and some percentage of this money goes into the government's budget. In a good world, this budget should be used for people and if it's done that way, then great!
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