Are You Tax Efficient With Your Gambling Habbits?

[mak013]

I never considered this but I think this is very valid argument. When people go establish companies to tax heavens its seen as accurate investment. I think if rich gambler does something sort of similar moving to different country it also makes sense. I feel like USA has very bad laws considering they directly tax income. I think tax should be far more lowered on income but maybe only on operations. Even government-regulated gambling options are heavily taxed... I just don't under his heavy tax fetish of countries.

If you pay taxes - you always disappointed with it. You worked had to get profit and they get your money. But the same time you get lots of opportunities due to these taxes. They pay salaries to civil servants from this money, build hospitals, road. From these taxes we get a opportunity to work and get profit. So nobody like taxes, but everybody pays.

[maydna]

I never considered this but I think this is very valid argument. When people go establish companies to tax heavens its seen as accurate investment. I think if rich gambler does something sort of similar moving to different country it also makes sense. I feel like USA has very bad laws considering they directly tax income. I think tax should be far more lowered on income but maybe only on operations. Even government-regulated gambling options are heavily taxed... I just don't under his heavy tax fetish of countries.

If you pay taxes - you always disappointed with it. You worked had to get profit and they get your money. But the same time you get lots of opportunities due to these taxes. They pay salaries to civil servants from this money, build hospitals, road. From these taxes we get a opportunity to work and get profit. So nobody like taxes, but everybody pays.

Because every citizen must pay taxes, even though they don't like paying taxes, they indirectly enjoy the facilities obtained from this tax money, such as building hospitals, roads, etc. And even though we don't pay taxes on our gambling, the state can get taxes from other businesses running in that country. And if countries that allow gambling can get their tax money, it should be able to increase development and build better infrastructure.

[South Park]

I never considered this but I think this is very valid argument. When people go establish companies to tax heavens its seen as accurate investment. I think if rich gambler does something sort of similar moving to different country it also makes sense. I feel like USA has very bad laws considering they directly tax income. I think tax should be far more lowered on income but maybe only on operations. Even government-regulated gambling options are heavily taxed... I just don't under his heavy tax fetish of countries.

If you pay taxes - you always disappointed with it. You worked had to get profit and they get your money. But the same time you get lots of opportunities due to these taxes. They pay salaries to civil servants from this money, build hospitals, road. From these taxes we get a opportunity to work and get profit. So nobody like taxes, but everybody pays.

This is assuming that you live in a country in which the law is respected and the level of corruption is on the low side, as there are many countries out there in which this is not the case and the majority of the money that you pay on taxes is being stolen by corrupt politicians and rich people, in that case I think there is a compelling argument to try to reduce the taxes that you pay as much as possible by the use of any loophole that may exist on the law.

[Westinhome]

This is assuming that you live in a country in which the law is respected and the level of corruption is on the low side, as there are many countries out there in which this is not the case and the majority of the money that you pay on taxes is being stolen by corrupt politicians and rich people, in that case I think there is a compelling argument to try to reduce the taxes that you pay as much as possible by the use of any loophole that may exist on the law.

This character was match to the most of the developed countries,the people of the developed countries will have enough money.So the people will get good income from their government job.So the government employee will not do corruption and they don’t have the purpose of doing corruption based on the money.So the people will pay the taxes to the government without fail,this also reduce the corrupted political in that countries.The government also allow the people to do the gambling in the legal way because of enough taxes paid by the people on the regular taxes on the government.So the government will bring more good schemes to their people from the tax money.

[dimonstration]

This is assuming that you live in a country in which the law is respected and the level of corruption is on the low side, as there are many countries out there in which this is not the case and the majority of the money that you pay on taxes is being stolen by corrupt politicians and rich people, in that case I think there is a compelling argument to try to reduce the taxes that you pay as much as possible by the use of any loophole that may exist on the law.

There’s no such country exists which corruption is very low. US government has lot of big time corruption from politicians yet they have a very strict implementation on how to regulate taxes with its citizens.

It’s more on how the government properly regulate all the taxes of their citizens by having a department that is very strict on hunting taxes of each individual. It’s very hard to do this on poor country with limited resources but corruption is the real reason why some country failed to implement taxes properly.

[mak013]

If you pay taxes - you always disappointed with it. You worked had to get profit and they get your money. But the same time you get lots of opportunities due to these taxes. They pay salaries to civil servants from this money, build hospitals, road. From these taxes we get a opportunity to work and get profit. So nobody like taxes, but everybody pays.

Because every citizen must pay taxes, even though they don't like paying taxes, they indirectly enjoy the facilities obtained from this tax money, such as building hospitals, roads, etc. And even though we don't pay taxes on our gambling, the state can get taxes from other businesses running in that country. And if countries that allow gambling can get their tax money, it should be able to increase development and build better infrastructure.

Exactly. The casinos pay taxes too and citizens get profit from this taxes. And i can say that when i visited offline casino and won big sum(at least for me), the casino removed taxes from my win and gave me a check to show the tax service if they have any questions.

If you pay taxes - you always disappointed with it. You worked had to get profit and they get your money. But the same time you get lots of opportunities due to these taxes. They pay salaries to civil servants from this money, build hospitals, road. From these taxes we get a opportunity to work and get profit. So nobody like taxes, but everybody pays.

This is assuming that you live in a country in which the law is respected and the level of corruption is on the low side, as there are many countries out there in which this is not the case and the majority of the money that you pay on taxes is being stolen by corrupt politicians and rich people, in that case I think there is a compelling argument to try to reduce the taxes that you pay as much as possible by the use of any loophole that may exist on the law.

In every country i visited i heard about awful corruption. But when i watched around - it looks nice. New roads, hospitals, parks, etc. Anyway, the government can`t steal everything. They have to spend some taxes to improve the environment.

[Natalim]

This is assuming that you live in a country in which the law is respected and the level of corruption is on the low side, as there are many countries out there in which this is not the case and the majority of the money that you pay on taxes is being stolen by corrupt politicians and rich people, in that case I think there is a compelling argument to try to reduce the taxes that you pay as much as possible by the use of any loophole that may exist on the law.

There’s no such country exists which corruption is very low. US government has lot of big time corruption from politicians yet they have a very strict implementation on how to regulate taxes with its citizens.

It’s more on how the government properly regulate all the taxes of their citizens by having a department that is very strict on hunting taxes of each individual. It’s very hard to do this on poor country with limited resources but corruption is the real reason why some country failed to implement taxes properly.

There should be a scale from low to high, and I believe there are countries with low corruption, particularly those countries whose economies aren't very progressive or have relatively few people living in them, or they are not fully developed like the developed countries. The more a country becomes developed, the more money will flow in from businesses and people who enjoy their jobs. Since the pursuit of money is often the root cause of corruption, it's to be expected that corruption will exist.

What we read online, which reports the most corrupt or least corrupt countries, may not always be accurate, as powerful countries can sometimes manipulate information to protect their image or influence the perception of reality.

[slapper]

This is assuming that you live in a country in which the law is respected and the level of corruption is on the low side, as there are many countries out there in which this is not the case and the majority of the money that you pay on taxes is being stolen by corrupt politicians and rich people, in that case I think there is a compelling argument to try to reduce the taxes that you pay as much as possible by the use of any loophole that may exist on the law.

This character was match to the most of the developed countries,the people of the developed countries will have enough money.So the people will get good income from their government job.So the government employee will not do corruption and they don’t have the purpose of doing corruption based on the money.So the people will pay the taxes to the government without fail,this also reduce the corrupted political in that countries.The government also allow the people to do the gambling in the legal way because of enough taxes paid by the people on the regular taxes on the government.So the government will bring more good schemes to their people from the tax money.

It's an interesting idea that having sufficient funds and a solid income from a government job can reduce corruption among government workers. Discussing responsible gaming is so important, especially in light of government initiatives and tax dollars

Now that legal gambling is permitted by governments, it's not simply a matter of collecting enough taxes; it's also a matter of providing a secure atmosphere for gamblers. It's about making sure that individuals can gamble in a controlled and secure manner, avoiding problems like gambling addiction, and making sure that the business is honest and open. But here's a fictitious issue: what if the beneficial programmes that the government has funded with tax dollars unintentionally promote more gambling? Isn't that fine balance challenging? ensuring that gambling remains healthy and doesn't develop into a problem in and of itself, as well as successfully using tax money. Do you agree that it's a thought worth considering?

[retreat]

In my country all forms of gambling are prohibited and if you are caught gambling you may be subject to a fine or criminal sentence. So there are no special rules governing taxation for gambling here, and if you win gambling with any amount, you don't need to pay taxes to the government and you are free to use your money for whatever it is.

[Swordsoffreedom]

In my country all forms of gambling are prohibited and if you are caught gambling you may be subject to a fine or criminal sentence. So there are no special rules governing taxation for gambling here, and if you win gambling with any amount, you don't need to pay taxes to the government and you are free to use your money for whatever it is.

Same situation in my country, all types of gambling are prohibited here. However there are several casinos here, but these casinos have no approval. These casinos are run by evading the government. And if anyone is caught a criminal case is filed against him. There is no opportunity to pay taxes to the government by gambling.

For these reasons I chose online gambling, it's relatively easy. Since gambling is prohibited in my country, so no one will know if I gamble using my computer or mobile. I mostly bet on games like cricket, football or boxing. And when I have the extra money I need I gamble in various online casinos. One such site is stake.com.

[OgNasty]

I am definitely not efficient when it comes to taxes and gambling. Being totally honest, my tax plan when it comes to gambling is to make sure I lose everything I bet in the end so that I don’t have any taxes to worry about. Maybe not the best plan, but it seems to work out pretty well and I always enjoy myself.

[uneng]

This is assuming that you live in a country in which the law is respected and the level of corruption is on the low side, as there are many countries out there in which this is not the case and the majority of the money that you pay on taxes is being stolen by corrupt politicians and rich people, in that case I think there is a compelling argument to try to reduce the taxes that you pay as much as possible by the use of any loophole that may exist on the law.

That is why I don't judge people who avoid paying taxes over their earnings. They aren't acting morally, as they go against a moral code defined by the country, but at same time I don't think they are unethical for doing this, since that money would feed more injustice on their local socities perpetrated by politicians, authorities in general and businessmen (especially the ones from big corporations).

It's not fair for a gambler to risk his own money (most of them losing on long term) to be enforced to share his winnings in a large percentage with a government which doesn't give anything back to that individual in form of public services in counterpart.

[wiss19]

There should be a scale from low to high, and I believe there are countries with low corruption, particularly those countries whose economies aren't very progressive or have relatively few people living in them, or they are not fully developed like the developed countries. The more a country becomes developed, the more money will flow in from businesses and people who enjoy their jobs. Since the pursuit of money is often the root cause of corruption, it's to be expected that corruption will exist.

What we read online, which reports the most corrupt or least corrupt countries, may not always be accurate, as powerful countries can sometimes manipulate information to protect their image or influence the perception of reality.

Manipulating facts or information online or offline won't hide the ground reality because people living in those powerful yet corrupt countries will know what they are going through and even if they aren't going through a lot, they will still be able to spot the corruption of the government at least in some things and they can't silence the whole country and ask them to not tell anyone that we are actually full of corruption but we just do it in a discrete manner.

Most countries are not developing only because of the corruption within government. Corrupt politicians and their political agendas don't let the countries prosper, they eat up most of the money that is collected from taxes that could be used towards the development work within the country.

[maydna]

~snip~

Exactly. The casinos pay taxes too and citizens get profit from this taxes. And i can say that when i visited offline casino and won big sum(at least for me), the casino removed taxes from my win and gave me a check to show the tax service if they have any questions.

Hahaha, it benefits you in getting your winnings, and you don't have to pay taxes at all. That's good for you

That means casinos have their own way of giving away their winnings to their winners. And I don't think that will happen in an online casino, especially if you get a big win at the online casino.

[mak013]

~snip~

Exactly. The casinos pay taxes too and citizens get profit from this taxes. And i can say that when i visited offline casino and won big sum(at least for me), the casino removed taxes from my win and gave me a check to show the tax service if they have any questions.

Hahaha, it benefits you in getting your winnings, and you don't have to pay taxes at all. That's good for you

That means casinos have their own way of giving away their winnings to their winners. And I don't think that will happen in an online casino, especially if you get a big win at the online casino.

The idea that the casino pay taxes for me. They remove it from my prize. But it is possible that they have some ways not to pay taxes. Anyway it isn`t my problem - i have a check that i paid it.
I don`t sure how it works in the online casino, but it is possible that it depends on the sum. I try to withdraw small enough sums per time - $100-$150. May be if i withdraw $1000 they can make the same as offline casino.

[maydna]

~snip~

The idea that the casino pay taxes for me. They remove it from my prize. But it is possible that they have some ways not to pay taxes. Anyway it isn`t my problem - i have a check that i paid it.
I don`t sure how it works in the online casino, but it is possible that it depends on the sum. I try to withdraw small enough sums per time - $100-$150. May be if i withdraw $1000 they can make the same as offline casino.

Correct. The important thing is that you take the check home and enjoy it. Besides, casinos should also pay taxes for the business they run. As for online casinos, I don't know because I never withdrew much money from my winnings. But if someone wants to withdraw a large amount of money, they must go through a check from the online casino before they can process the withdrawal. However, gamble at online casinos is more profitable because there is no need to pay taxes. Besides that, I prefer playing gambling at online casinos because I can play it anywhere.

[mirakal]

It is quite confusing that there is not specific definition of a professional gambler and also that America is one of the countries with strict gambling taxation law. But America is making money from gambling taxes, they shouldn't ban gambling. It just makes no sense.

In my country, gambling winnings are not taxed. It is considered more of a recreational activity than a source of income. This though is likely to change as more gambling organizations are created. The government may wake up one day and demand a piece of the gambling pie.

America cannot ban gambling, as they generate significant tax revenue from a billion-dollar industry. Major sports like MLB, NFL, NBA, and others are responsible for a large portion of these bets, and it benefits the government to allow more gambling sites to operate legally. As long as proper tax enforcement is implemented, there's little chance they will consider banning the entire gambling industry.

Well, if the country continue to benefit from the gambling casinos, then it's rare to see US banning gambling operations, except for those illegal gambling sites that do not pay taxes to the government. However, in my country, gambling is just a recreational activity, whether you win or lose, the government won't demand tax from you. But for gambling lotteries, there's always tax associated in it to help build public hospitals and big infrastructures that will cater the needs of the citizens.

[Casdinyard]

In the country where I live in this isn't a problem (at least from what I know), and unless you won the super lotto granting you a hundred thousand dollar prize in the process you won't be taxed for what you earned while you gamble. I've earned a sizable amount from my games at a local casino that I used to frequent in, I used to play on government-sanctioned online casinos as well, I guess from where I live the tax is already pre-cut from what you pay when you gamble like the tokens, the spins, and all that stuff cause I never had the tax man knock on my door on a cold and dreary night asking me where my gambling tax report is.

And yeah before our capitalist friends come flocking in here I just wanna say living in the Philippines isn't the best right now especially since the whole country's in some sort of political turmoil. Be wary and take every Pinoybaiting vlogger's words with a grain of salt.

[Westinhome]

In the country where I live in this isn't a problem (at least from what I know), and unless you won the super lotto granting you a hundred thousand dollar prize in the process you won't be taxed for what you earned while you gamble. I've earned a sizable amount from my games at a local casino that I used to frequent in, I used to play on government-sanctioned online casinos as well, I guess from where I live the tax is already pre-cut from what you pay when you gamble like the tokens, the spins, and all that stuff cause I never had the tax man knock on my door on a cold and dreary night asking me where my gambling tax report is.

And yeah before our capitalist friends come flocking in here I just wanna say living in the Philippines isn't the best right now especially since the whole country's in some sort of political turmoil. Be wary and take every Pinoybaiting vlogger's words with a grain of salt.

So you mean only the gambler who win the big money alone need to pay taxes.If so then you can do the gambling with the minimum limit to avoid of pay taxes to the gambling.Actually no one will not worry to pay taxes after the big super lotto,if the gambler not ready to pay taxes after the big win.Such gambler is so greedy to get all the money to his own pocket and not ready to pay taxes.But the gambler had won the money from the gambling,which is the free win.So the paying of taxes for the win will help the government to create a good scheme to people.

[mak013]

~snip~

The idea that the casino pay taxes for me. They remove it from my prize. But it is possible that they have some ways not to pay taxes. Anyway it isn`t my problem - i have a check that i paid it.
I don`t sure how it works in the online casino, but it is possible that it depends on the sum. I try to withdraw small enough sums per time - $100-$150. May be if i withdraw $1000 they can make the same as offline casino.

Correct. The important thing is that you take the check home and enjoy it. Besides, casinos should also pay taxes for the business they run. As for online casinos, I don't know because I never withdrew much money from my winnings. But if someone wants to withdraw a large amount of money, they must go through a check from the online casino before they can process the withdrawal. However, gamble at online casinos is more profitable because there is no need to pay taxes. Besides that, I prefer playing gambling at online casinos because I can play it anywhere.

I don`t sure about taxes in online casino. Someone told me that the online casino makes the same as offline - from some sum they reduce your withdrawal for taxes. But i don`t sure that it is so - i haven`t seen it myself.
Gambling in online casino is nice for gambling anywhere. The same time gambling in offline casino gives you very bright emotions. So if i have an opportunity - i try to visit offline casino during vacation.