Antotena
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February 19, 2024, 09:44:25 PM |
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We all know that gambling income is heavily taxed in most of the countries. This is because most of the countries have separate taxes for the gambling related income. I want to know which are the most gambling friendly countries which charge very less or nil income tax on gambling winnings ?
I can speak for my country which is Nigeria. We don't get tax from money that we used in gambling, the citizens will probably don't play as the economy is hard for everyone right now, you are free to deposit any amount that you like, okay with any amount you like and when you win big, you are free to withdraw your amount without the government enforcing any taxes on their citizens and if you withdraw to your bank, the highest amount you will pay will not exceed ₦50 for Vats which is less than a cent. The reason why we have privileged is that, the licnence casinos has signed an agreement with the federal government to tax them from the money they win from it's citizens and somehow they agreed to it and since a lot of a Nigerians like gambling, about 65m of 200m gamble and they spend roughly about $15M a day into gambling, Nigerians love gambling.
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SmartGold01
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February 19, 2024, 09:51:40 PM |
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Would you mind relocating to my country? I never seen anyone who was taxed after winning big amount or for his gambling activity. Besides I don't know how addicted are you to search for other countries that doesn't charge for gambling and it would be very bad of you to relocate from your country to other country just to make sure you didn't incur taxation meaning your income or your regular winning is always higher to foot your expenses, for you to start looking for the countries that doesn't pay taxation.
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robelneo
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February 19, 2024, 10:33:21 PM |
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Why did you ask this question? I do not think anyone will want to relocate because of gambling to be tax free. I do some findings about it and I saw this online https://www.vegasmaster.com/gambling-tax-free-countriesIt might not be very accurate but when I check another site, I saw some countries that I saw on this site there. I noticed that the countries that are in the article are from first-world countries, they do not rely on taxes for the health of their economy so they prefer that the reward is zero tax so the winner can enjoy the whole prize and it encourages to support the lottery, here in our country the winner's tax is 20%, the government is the one running the lottery, they get the profit, and they also get the tax, the lottery is our government's cash cow which is why there's a lot of corruption in our lotter.
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Belarge
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February 19, 2024, 11:18:31 PM |
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Would you mind relocating to my country? I never seen anyone who was taxed after winning big amount or for his gambling activity. Besides I don't know how addicted are you to search for other countries that doesn't charge for gambling and it would be very bad of you to relocate from your country to other country just to make sure you didn't incur taxation meaning your income or your regular winning is always higher to foot your expenses, for you to start looking for the countries that doesn't pay taxation.
Countries that doesn't support gambling and when they finally do, they enact a solid rule that follows. We just have to play along and ensure we don't break rules, because they comes with penalties. Everyone have 50/50 chances of placing wagers on games, and it doesn't come with any commission because it's an activity that's been authorized by the Government of that particular country. We shouldn't sleep over on this season these countries have set out the necessary sections to guide and regulate the activities of gambling, they held on the big winnings and also heavy losses in the system.
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Kemarit
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February 19, 2024, 11:37:33 PM |
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Why did you ask this question? I do not think anyone will want to relocate because of gambling to be tax free. I do some findings about it and I saw this online https://www.vegasmaster.com/gambling-tax-free-countriesIt might not be very accurate but when I check another site, I saw some countries that I saw on this site there. I noticed that the countries that are in the article are from first-world countries, they do not rely on taxes for the health of their economy so they prefer that the reward is zero tax so the winner can enjoy the whole prize and it encourages to support the lottery, here in our country the winner's tax is 20%, the government is the one running the lottery, they get the profit, and they also get the tax, the lottery is our government's cash cow which is why there's a lot of corruption in our lotter. You're right, most of them are from the first world countries so most likely their government has so much money already that they don't need to get taxes from this casinos. However, if you are going to go and moved on those countries, might be a bad idea as well as the cost of living will obviously be too high. Unless the OP has really set his eyes to relocate and enjoy his money from those countries listed. But for the majority of us, we still prefer to play online or even traditional based casinos locally. And even if we pay taxes like 20%, gonna be a win-win situation to us.
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Hirose UK
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February 20, 2024, 02:21:38 AM |
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It is true that there are several countries that impose income tax on gamblers, but this is not like an income tax but winnings tax just that most. Howover all existing gamblers have unfavorable sentiments towards winnings taxes. Isn't gambling an activity that will only result in much bigger losses and winnings are just small return for gamblers but they should be charged the winnings tax that is applied, this is ridiculous and really not worth continuing to be required to do. Actual tax should not be applied to winning gamblers but only to providers or casinos because they are the ones who make the entire profit.
Regarding the question of which country is the friendliest towards gambling and provides the lowest taxes, I will answer that the friendliest is the country that does not burden gamblers with taxes on winnings. But for some countries, it really cannot be stated with certainty because the regulations and provisions regarding gambling related to taxes will also change depending on how gambling develops in the country that does provide legal permits.
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Maus0728
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February 20, 2024, 02:31:47 AM |
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Didn't expect the European continent to dominate the list, at the least my first thought is that it's going to be the small countries in Caribbean like Curacao or Asian countries especially with Macau being the most known gambling hub in the surrounding region although I do think why Macau isn't included as it's still a part of China but it's a surprise to me that no Asian country made it through the list. I guess the tax here in gambling is just too much for the government to pass up. Really hard to find an accurate one regards to this, maybe if there's a global study about the friendliest one that's officiated by government or renowned gambling institutions then maybe we will see some accuracy but for now, this list will suffice.
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kamvreto
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February 20, 2024, 03:39:56 AM |
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Indonesia is a country that is not friendly to gambling, even public figures who are proven to promote gambling directly will be subject to sanctions or punishment for being involved in spreading gambling. But now that gambling is increasingly prohibited, it is growing rapidly, it is hidden and running without the government's knowledge. but some gambling games can get away with it and are only considered normal games, even underage children can play them easily. The rules on gambling seem strict in casinos that do not pay taxes, but for those who pay taxes under the guise of regular gaming applications, they are very free to play.
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SeaCoinCollector.
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February 20, 2024, 05:00:30 AM |
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If you would like to move country, there are certain countries like Monaco and Bahamas that don't tax gambling winnings. And others like Macau and Malta have lower taxes on gambling money. These are popular places for gamblers to keep more of their winnings. But it's important to consider that should consider when moving countries, but all in all, it's up to a person's decision.
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zuzie
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February 20, 2024, 05:13:40 AM |
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We all know that gambling income is heavily taxed in most of the countries. This is because most of the countries have separate taxes for the gambling related income. I want to know which are the most gambling friendly countries which charge very less or nil income tax on gambling winnings ?
If there is a country that is friendly to gambling, are you planning to move to that country? What I know is that the majority of countries will provide taxes for gambling, whether the amount of tax issued by the country depends on the authority of a government. I believe that casino companies are not responsible for paying taxes according to state regulations, because gambling activities are closed, not everyone can accept this kind of activity, so bookies must be willing to spend a lot of money for smooth and smooth operations. . the success of the casino company they built. . If there is a country that does not collect taxes from a company then in my opinion gambling in that country must have its own reasons.
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Assface16678
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February 20, 2024, 06:54:59 AM |
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Well, I think it will depend on which country we are in because we can know how gambling friendly a country is if we are residing in that country itself. So for me, my country, which is the Philippines, is one of the friendly countries in terms of gambling. In fact, many vloggers and influencers are promoting different casino websites or platforms. In short, casino websites are becoming prominent in the Philippines to the point that that is one of the means of earnings for those influencers by promoting and flagging casino platforms. But of course there's a downside to it, as many young people are surfing the internet or social media, so many youngsters will be aware of gambling. For sure, the rate of young people doing gambling will be higher. Even though there is an age restriction on those websites, there are different ways for a teenager to play, and that will not be a good influence on young generations.
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rahmad2nd
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February 20, 2024, 08:25:40 AM |
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I read several friends' posts, there were various comments which at least provided new information for me. In fact, I didn't even think about the point you made in this thread which refers to taxes for the state. however, because the gambling business is a profitable business, I am sure that each country has its own policies adjusted to the applicable jurisdiction. what is certain is that we will not know it accurately even if we have references or are based on several sources. based on my assumptions and logic, what is certain is that the casino will pay taxes greater than the value of your winnings when gambling.
Well, some members also mentioned several locations and countries such as Monaco for example. or in Asia there is the most famous Macau, in Singapore with its Marina Bay Sands. in Malaysia with the name of the place Gentingnya. for Asia, as far as my experience has been in the past few years, the Asian countries I mentioned are gambling friendly and maybe you can try them if you want to visit while on holiday. or, as another member commented you can move countries if you want. which just makes me wonder, now that it's the digital era, aren't online casinos the easiest, friendliest option with the scale of features available. "a casino that has a high rating and can be trusted". btw, obviously, I can't answer correctly what you asked in this thread. moreover, in my country gambling is currently still something that is not allowed.
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February 20, 2024, 08:36:53 AM |
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There is non tax charges on gamblers in my locality except for lottery winners. The only Gambling personells that are charged to pay taxes are the gambling bookmarkers because they are strickly out there for business unlike individuals that stakes their personal funds in chasing either profits or funs.
In some countries, casinos are mandated by the government to collect taxes on their behalf. You might assume that gamblers are not taxed but their tax is indirectly by the casino to be remitted to the government. However, in some other countries gamblers are expected to fill their tax returns including incomes from gambling. In my country, you can also include your losses in casinos in your tax returns and it can be categorised as tax reductions. So you can deduct your losses from your tax payments and pay the balance. This practice makes the tax system fair to gamblers.
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EluguHcman
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February 20, 2024, 09:12:11 AM |
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@ OP, I am not an international gambler neither do I have gambling colleagues out there that discusses about gambling in our various localities to make this comparison. In my own country, I as a gambler has won hugely and so I have also lost but hadn't been tasked for taxes during my stakes and my cashing out of winnings. So I would literarily say that I personally do not pay task while gambling in my country. I have tried to search on the internet if I can get answer to this thread pertaining tax payments but I couldn't get a reliable source. Although I came across series of countries with the highest taxes on gambling which I am in doubt about because it is not authenticated. So, it is better I keep shot than guessing. Why did you ask this question?
The OPs question could sound silly but as long this is a gambling discussion board, it would also be nice to discuss about it. No knowledge is a waste. Atleast if anyone can come up with a reliable update about the OPs question, then we would all had counted a learning in the process. Hence @Oshosondy, you have also provided relevant informations which is part of the learning and discussion processes.
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angrybirdy
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February 20, 2024, 09:37:43 AM |
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Why did you ask this question? I do not think anyone will want to relocate because of gambling to be tax free. I do some findings about it and I saw this online https://www.vegasmaster.com/gambling-tax-free-countriesIt might not be very accurate but when I check another site, I saw some countries that I saw on this site there. Maybe OP wants to migrate to a tax free country so he can enjoy his winnings in gambling, It may be that OP won the game a lot, but the tax cuts him a lot so he thought about which country is tax-free when it comes to gambling. who knows? Upon checking on the internet, there's still a lot of gambling friendly countries out there that collects low tax fee but still there's a tax payment. OP should try to go to Australia and Italy, as per research both country is known as a gambling paradise because it has no tax on winnings, that's why many tourist and locals prefer to gamble there.
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Z390
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February 20, 2024, 09:39:32 AM |
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I can relocate because of Bitcoin holding, if taxes becomes a headache I will relocate, I will do the same thing for Bitcoin mining too, these are reliable investments that's worth making such big decisions for, but which one is gambling tax? Is it worth it? Because even if you relocate, remember that you need luck to win, you can relocate and still be a loser if all you depend on is gambling, for me its not worth relocating for gambling.
Well, in my country I have no problem with taxes on gambling, I do it online and those who do it offline are not taxed too, but if you are in a country that tax on gambling you are the only one who knows better, it's either you comply or you leave the country, just make sure you know what you are doing, because going into another country means you will start looking for a new job again, bills will be different and laws will be different.
Whichever country you choose make sure you have done some good research very well, or else you might later find out that where you are coming from is better than the new country you moved into.
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shield132
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February 20, 2024, 09:54:21 AM |
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We all know that gambling income is heavily taxed in most of the countries. This is because most of the countries have separate taxes for the gambling related income. I want to know which are the most gambling friendly countries which charge very less or nil income tax on gambling winnings ?
Which one do you mean, lottery wins or casino wins? I don't know about lottery wins but casino wins are all of yours where I live. Till this year, you didn't even have to pay a fee to withdraw but this year the government made a decision and you have to pay 5% on your casino withdrawals, it doesn't matter how much you have won or lost. Btw many people from Turkey and the Arab world fly to my country because there are many good casinos that offer very good environment to their customers. Casinos don't pay tax on money that they give away as jackpots, rewards and bonuses. This country is Georgia.
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danherbias07
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February 20, 2024, 10:32:14 AM |
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We all know that gambling income is heavily taxed in most of the countries. This is because most of the countries have separate taxes for the gambling related income. I want to know which are the most gambling friendly countries which charge very less or nil income tax on gambling winnings ?
https://www.artiopartners.com/nonresident/gambling-winnings-tax-foreign-nationals/I don't know what you want to do with this. If you are thinking about targeting those countries with the use of VPN to gamble then I would not suggest that. You might get yourself banned in the process and your funds locked away in that account. You don't want to lose money without even enjoying gambling first. Gambling sites will definitely trace those who use VPNs and it's illegal for them because of many reasons. It ain't cheating but it could lead to that. But, there's not much trouble now because most popular online gambling sites do support many countries now and I highly doubt yours is part of those restricted ones. Anyway, if it's for a project, then good luck.
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criptoevangelista
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February 20, 2024, 11:02:54 AM |
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Well, if we always use cryptocurrencies to play we automatically get rid of all possible taxes, so I don't see any reason to care about that... Just knowing where to play and how to play, maybe we should care about using what bitcoin taught us in our favor... Taxes are theft!
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Kelward
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February 20, 2024, 11:37:26 AM |
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We all know that gambling income is heavily taxed in most of the countries. This is because most of the countries have separate taxes for the gambling related income. I want to know which are the most gambling friendly countries which charge very less or nil income tax on gambling winnings ?
Some members here seems to think that you're probably planing to travel to a gambling friendly country where you'll not be taxed for gambling, but I think that you might just be asking out of curiosity, probably because your country's tax on gambling is very high. Knowledge is power so as a gambler it's ok to be informed about the gambling habits and regulations in other countries. If you gamble and win, I don't think that it'll be much of a problem to give your country a share of your winning as tax, although you can argue that they don't compensate you for your loses. I think that it's only in countries that have developed their gambling industry that can afford not to collect tax from gamble winners, as a way to entice their citizens and tourists to engage in gambling.
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