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#1
05-21-2006, 10:36 AM
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What is the gambling tax situation in your country?
Inspired by the moving to UK thread, I would like people to chime in on the tax situation on gambling income in different countries. We know in America it is treated like income tax, but in Canada the situation is dubious. England and Ireland don't charge tax. What about other countries? Australia? Europe? Asian countries?
It may definitely be in the financial best interest of poker players to move elsewhere. 
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#2
05-21-2006, 11:20 AM
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Re: What is the gambling tax situation in your country?
[ QUOTE ]
It may definitely be in the financial best interest of poker players to move elsewhere. [/ QUOTE ] Keep in mind that many of the poker players posting here are US citizens, who would still be required to pay tax to their government regardless of where they were actually living (although I believe they are exempt from the first $80,000).
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#3
05-21-2006, 11:37 AM
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Re: What is the gambling tax situation in your country?
[ QUOTE ]
[ QUOTE ] It may definitely be in the financial best interest of poker players to move elsewhere. [/ QUOTE ] Keep in mind that many of the poker players posting here are US citizens, who would still be required to pay tax to their government regardless of where they were actually living (although I believe they are exempt from the first $80,000). [/ QUOTE ] The funniest part about that is that you can renounce your American citizenship and they will still come after you for taxes! How do they enforce it? Is there a militia of Foreign American Tax Gestapo out there? What do they do? Will they eat your children?
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#4
05-21-2006, 01:21 PM
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Re: What is the gambling tax situation in your country?
[ QUOTE ]
Inspired by the moving to UK thread, I would like people to chime in on the tax situation on gambling income in different countries. We know in America it is treated like income tax, but in Canada the situation is dubious. England and Ireland don't charge tax. What about other countries? Australia? Europe? Asian countries? It may definitely be in the financial best interest of poker players to move elsewhere. [/ QUOTE ] Does anyone have easy access to the legislature that states you don't have to pay taxes in the UK? It seems to be common knowledge, but it'd be nice to see something official.
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#5
05-21-2006, 04:05 PM
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Re: What is the gambling tax situation in your country?
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#6
05-31-2006, 05:21 AM
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Re: What is the gambling tax situation in your country?
Sweden has Zero % tax on gambling winnings within the EU. Sweden, which has the highest taxes in the world otherwise, has a tradition of state owned gambling monopoly. Since there are no taxes on winnings on the state lottery/betting/poker, the EU prevents them for having taxes on other betting companies within the EU.
However, outside the EU, winnings should be paid about 33% tax for and losses are non-deductable since poker is treated as a game of luck. So its impossible for a swede to play cash game, legally, outside the EU.
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#7
05-31-2006, 05:24 AM
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Re: What is the gambling tax situation in your country?
So.. a tip for american players is to move to Sweden if u want to play online poker. Good living standards, everyone knows english and no taxes on poker [img]/images/graemlins/smile.gif[/img]
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