EEC: Poker-tax in UK compared to Denmark
 

<font color="red">Denmark</font>


Online
In Denmark poker-winnings from Europe-based online pokerrooms such as: Partypoker, Eurobetpoker, Interpoker, Ladbrokes etc. are taxfree.

But, non europe-based sites like, PokerStars, Fulltilt etc. are fully taxe as income (60%+) if you make alot.

Live

Same thing:

Casinoes within Europe: like EPT and cash-games, winnings are taxfree.

But outside Europe like WPT, EPT finals in Monaco and Cashgames i.e. Las Vegas, Caribean are taxed as normal income.

<font color="red">UK</font>

I have heard that in UK all poker-winnings are tax free, both online PokerStars, FullTilt and live WPT main event in Las Vegas.

Can anyone from UK confirm that ?

I have the same about Sweden ?

I am interested in hearing about any contry where that is the fact: Non Tax on all pokerwinnings

- inside/outside EU and Online/live!!!!!!!!!!!!

Re: EEC: Poker-tax in UK compared to Denmark
 

Yes it is true in the uk you are not taxed on poker winings
which is a good thing only downside is trying to get credit
like a mortgage ect because you have no accounts, can't prove income ect.

Re: EEC: Poker-tax in UK compared to Denmark
 

Damn, I wish I remember the exact rules, but as far as I can recall Sweden is just like Denmark with regards to taxes on poker winnings.

Re: EEC: Poker-tax in UK compared to Denmark
 

[ QUOTE ]
Damn, I wish I remember the exact rules, but as far as I can recall Sweden is just like Denmark with regards to taxes on poker winnings.

[/ QUOTE ]

Almost the EU rules are the same regarding which sites are taxed, however gambling winnings are taxed with capital gains tax 30%, and thus not contributing to pension.

An intresting note is that each individual pot is considered a play that should be taxed and losses are not deductable. Hence if swedish players were to file their taxes according to the law everyone who played at a non EU would have a huge tax debt.
Taxes= 30% of all pots won - 0 since deductions for pots lost is not allowed.

Re: EEC: Poker-tax in UK compared to Denmark
 

[ QUOTE ]

Yes it is true in the uk you are not taxed on poker winings
which is a good thing only downside is trying to get credit
like a mortgage ect because you have no accounts, can't prove income ect.

[/ QUOTE ]

Damn, sounds nice, i am thinking about moving to London, because i want to play at PokerStars and FullTilt.

About credit:
What do mean about accounts: you can get a normal account with a Visacard if you just deposit some into the account, right ?

In Denmark you can get a mortgage as a pro poker player; but it is more difficult.

You have to put a bigger amount down, since the bank set your income at 0; think it's about 30% of house price(Normally 10% if you have a good job).

So why are all poker Pro's not living it up in UK - has to be a huge advantage over time (Taxfree WPT winings, play online whereever you want taxfree etc.) - and who don't want to have their base in London anyway ?

Thanks for the answers
I am moving [img]/images/graemlins/smile.gif[/img]

Re: EEC: Poker-tax in UK compared to Denmark
 

You're moving because you want to play on Stars and FT?

eh?

Re: EEC: Poker-tax in UK compared to Denmark
 

i want play at a site where there are lots of traffic and rakeback (fulltilt), and i don't wanne pay tax if i win big in Las Vegas.

And i can visit my freinds in Copenhagen for $100 return flight, and i would like to live in London.

Re: EEC: Poker-tax in UK compared to Denmark
 

If you move to the UK (say from the USA), do you have to get rid of your US citizenship and become a UK citizen before you don't have to pay tax?

Re: EEC: Poker-tax in UK compared to Denmark
 

[ QUOTE ]
If you move to the UK (say from the USA), do you have to get rid of your US citizenship and become a UK citizen before you don't have to pay tax?

[/ QUOTE ]

You can't do this so it doesn't matter. Was fun idea while it lasted though.

Re: EEC: Poker-tax in UK compared to Denmark
 

[ QUOTE ]
[ QUOTE ]
If you move to the UK (say from the USA), do you have to get rid of your US citizenship and become a UK citizen before you don't have to pay tax?

[/ QUOTE ]

You can't do this so it doesn't matter. Was fun idea while it lasted though.

[/ QUOTE ]

You can't?