Two Plus Two Newer Archives  

Go Back   Two Plus Two Newer Archives > Other Topics > Business, Finance, and Investing

Reply
 
Thread Tools Display Modes
  #1  
Old 09-18-2007, 05:14 PM
spliff spliff is offline
Senior Member
 
Join Date: May 2005
Posts: 349
Default 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!!!!!!!!!!!!
Reply With Quote
  #2  
Old 09-18-2007, 06:40 PM
trouble trouble is offline
Member
 
Join Date: May 2007
Location: In Deep...
Posts: 69
Default 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.
Reply With Quote
  #3  
Old 09-18-2007, 06:46 PM
TheMetetron TheMetetron is offline
Senior Member
 
Join Date: Oct 2004
Location: Blog Updated Dec 1st
Posts: 6,839
Default 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.
Reply With Quote
  #4  
Old 09-18-2007, 06:58 PM
Kriber13 Kriber13 is offline
Senior Member
 
Join Date: Jul 2005
Location: Sweden
Posts: 372
Default 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.
Reply With Quote
  #5  
Old 09-19-2007, 02:34 AM
spliff spliff is offline
Senior Member
 
Join Date: May 2005
Posts: 349
Default 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]
Reply With Quote
  #6  
Old 09-19-2007, 03:24 AM
Alexos Alexos is offline
Senior Member
 
Join Date: Feb 2007
Location: killin crypto
Posts: 154
Default Re: EEC: Poker-tax in UK compared to Denmark

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

eh?
Reply With Quote
  #7  
Old 09-19-2007, 03:55 AM
spliff spliff is offline
Senior Member
 
Join Date: May 2005
Posts: 349
Default 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.
Reply With Quote
  #8  
Old 09-19-2007, 03:22 PM
darinvg darinvg is offline
Senior Member
 
Join Date: Oct 2005
Location: Boston Area
Posts: 1,067
Default 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?
Reply With Quote
  #9  
Old 09-19-2007, 03:27 PM
TheMetetron TheMetetron is offline
Senior Member
 
Join Date: Oct 2004
Location: Blog Updated Dec 1st
Posts: 6,839
Default 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.
Reply With Quote
  #10  
Old 09-19-2007, 03:41 PM
darinvg darinvg is offline
Senior Member
 
Join Date: Oct 2005
Location: Boston Area
Posts: 1,067
Default 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?
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -4. The time now is 02:31 PM.


Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.