Anyone here had already paid taxes on winnings? - page 2.

Ever-young

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Quote from: Botnake on January 03, 2025, 07:02:49 PM

Just curious since there are countries where gambling winnings are taxable... Those who have experience paying taxes on gambling winnings, how much do you typically pay? Also, is there a way to avoid these taxes without getting into trouble? If you don’t mind, please share your insights and mention the country you’re in if possible.

I'm from Nigeria; here we only hear and read about gambling tax in some news headlines, but deep down I have not really come across it in any of the casinos that I make use of. It's something that I don't pay attention to, and it really didn't matter for the main time.

But if gambling winnings are to be taxed, it won't be a fixed amount, but it will be based on how much the person wins. The amount left after deducting the wager amount, the tax can be calculated from there.

If your country makes tax a mandatory something, don't even try to learn how to invade it; it's either you compile and avoid future punishment or avoid using such service that will require you to tax.

GeorgeJohn

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Quote from: Botnake on January 03, 2025, 07:02:49 PM

Just curious since there are countries where gambling winnings are taxable... Those who have experience paying taxes on gambling winnings, how much do you typically pay? Also, is there a way to avoid these taxes without getting into trouble? If you don’t mind, please share your insights and mention the country you’re in if possible.

I know that their is a country that gambling websites pay tax to the government of the country, but I never had that gambler that win bet use to pay tax, I think people that pay a tax is the owner of gamblers that pay tax why gamblers that win are tax free, in my country we don't pay tax when we win, it only the gambling companies that have that connection or relationship with government, so government don't know us as gamblers who they know is the people that runs the gambling site

Miles2006

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Definitely if the law is officially it’s a must you pay else you might face the consequences depending on the law, taxes extending to casino site has always been for long so it’s nothing new definitely I’m sure they meet the required amount. I read a topic concerning the government starting a tax scheme for gambling win alone although my country has not implement any rule as such still if this law is implemented I have no choice but to obey.

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Quote from: Botnake on January 03, 2025, 07:02:49 PM

Just curious since there are countries where gambling winnings are taxable... Those who have experience paying taxes on gambling winnings, how much do you typically pay? Also, is there a way to avoid these taxes without getting into trouble? If you don’t mind, please share your insights and mention the country you’re in if possible.

Taxes are a global thing, no doubt about it. But there is a certain amount when to start paying taxes. Although I’ve never personally experienced having to pay taxes like that, but jackpot lottery winners automatically have taxes deducted when they claim their prize, and the amount depends on how much they’ve won.

There is no way to escape it when the authorities are aware of the situation or if we are honest enough to report ourselves. And of course, there are penalties if you don’t. But most people tried to avoid it because of the huge tax deductions they could pay (in my country).

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Quote from: Botnake on January 03, 2025, 07:02:49 PM

Just curious since there are countries where gambling winnings are taxable... Those who have experience paying taxes on gambling winnings, how much do you typically pay? Also, is there a way to avoid these taxes without getting into trouble? If you don’t mind, please share your insights and mention the country you’re in if possible.

This question is interesting but I am not in a country that requires gambling tax because gambling itself is illegal in our area, so at the same time we win, we don't even have tax benefits, but if you look at the country that applies taxation on gambling, of course it will definitely make a problem if it is in Watching in the Casino that has been regenerated, however they will be very strict in speaking like this, if not paid it will be affected by a fine that has been agreed upon as other taxes that are implemented in general for those who avoid compulsory taxes.

Patikno

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Quote from: Fivestar4everMVP on January 04, 2025, 12:37:06 PM

Anyways, I believe that with cryptocurrencies, such taxes will be eliminated, that is, choose to deposit in cryptocurrencies instead of the normal fiat currencies.

Not really, in fact our government is directly involved in this tax when it comes to crypto. So, nothing is safe & there is no way to avoid this tax. Lucky for you in countries where gambling is legal & regulated. There is no fear or anything that makes you uncomfortable.

Zoomic

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In my country, gambling wins are not taxed, so I do not pay tax whenever I win. If anything like this is going to apply in my country, the easiest way the government can get taxes from gamblers is by demanding that gambling platforms deduct the taxes first before paying whatever is left to the gamblers. This way, it will be quite difficult for any gambler to avoid paying tax, except the gambling platform refuses to report the tax deducted to the government. All organisations and individuals pay tax in my country this way because I know no one is going to walk willingly to the tax office to give them some money.

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Quote from: Botnake on January 03, 2025, 07:02:49 PM

Just curious since there are countries where gambling winnings are taxable... Those who have experience paying taxes on gambling winnings, how much do you typically pay? Also, is there a way to avoid these taxes without getting into trouble? If you don’t mind, please share your insights and mention the country you’re in if possible.

In fact, my bets have never been worth anything that should be taxed. I have been and still am placing small bets, no more than a few dollars at a time. In my country, most gamblers are online on unlicensed platforms, and the authorities have not been able to prevent the spread of casinos. On the other hand, there are a few licensed casinos and a state-run sports betting company. The law imposes a 25% tax on all types of winnings from competitions, entertainment activities and gambling. There is no escape from this tax, which is deducted before the winnings are handed over.

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Quote from: Odohu on January 04, 2025, 08:03:28 AM

Quote from: Botnake on January 03, 2025, 07:02:49 PM

Just curious since there are countries where gambling winnings are taxable... Those who have experience paying taxes on gambling winnings, how much do you typically pay? Also, is there a way to avoid these taxes without getting into trouble? If you don’t mind, please share your insights and mention the country you’re in if possible.

I've been hearing about paying taxes on winnings but is still trying to figure out how it actually works. In my country, gambling is very legal but government only collects their taxes from gambling companies and not gamblers after their winnings. Just like you, I'll also want to know how paying of tax by gamblers works as well as how many percentage from the winnings does the government charge for each winning.

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Quote from: Botnake on January 03, 2025, 07:02:49 PM

Just curious since there are countries where gambling winnings are taxable... Those who have experience paying taxes on gambling winnings, how much do you typically pay? Also, is there a way to avoid these taxes without getting into trouble? If you don’t mind, please share your insights and mention the country you’re in if possible.

I don't think all country pay tax on wining gambling or betting. But some country do. For me I don't pay tax because in my country there is no taxing on wining except you want to dash some money to the casino agent out from your wining, but not mandatory. Ive heard some rumors that most gambling site will start paying tax but has not be fully implemented.

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Quote from: Patikno on January 04, 2025, 12:12:28 PM

Not coming from a country where gambling is legal, but we still pay indirect taxes on our gambling. That's because there is a 12% tax on the transactions we make when making direct deposits via QR payments which are supported by many locally based platforms. So, basically we are subject to an indirect tax of 12% on winnings or losses.

Well, 12% is way too much bud, most especially if we consider the fact that this tax percentage is taken both on gambling winnings or loses, on the norm, gamblers are not supposed to pay taxes on loses, and I believe we all know the reason why - no profit.

But on the other hand, I also feel that this tax has no connection with the government, the payment processors you guys use in your country are the ones exploiting you guys, knowing fully well that gambling is illegal in the country, and that no one will possibly make reports to the government about this exorbitant charges.

Anyways, I believe that with cryptocurrencies, such taxes will be eliminated, that is, choose to deposit in cryptocurrencies instead of the normal fiat currencies.

Patikno

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Not coming from a country where gambling is legal, but we still pay indirect taxes on our gambling. That's because there is a 12% tax on the transactions we make when making direct deposits via QR payments which are supported by many locally based platforms. So, basically we are subject to an indirect tax of 12% on winnings or losses.

bering

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My gambling activities mostly comes from online casinos which only accept cryptocurrencies as their payment method this because in my country there was no land based casinos available so i think everybody know mostly the government around the world didn't collect taxes from these casinos so that's why i didn't paying taxes for my winning on gambling but for cryptocurrencies exchange currently my country seems starting to regulation about cryptocurrencies so if i want to convert my cryptocurrencies asset to my local currency then automatically i will paying the taxes for every transactions which i have made

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Quote from: jcojci on January 04, 2025, 09:15:05 AM

I don't pay taxes for my gambling winnings. Gambling in my country is prohibit but we can gambling by online because some Internet provider still allow the access to the online casino.

But what if the offshore gambling site noticed and block your account? Or your country is not prohibited on the ToS?

Quote from: jcojci on January 04, 2025, 09:15:05 AM

If you avoid taxes, you may get trouble if your government know because they will chase you and force you to pay the taxes. But that will only happen to the country that have gambling tax.

It is not even only about forcing someone to pay the tax, it can lead to fine and also jail. The person can be jailed for some months or jailed for like a year or two years.

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Quote from: robelneo on January 04, 2025, 07:57:46 AM

Quote from: Russlenat on January 04, 2025, 07:04:46 AM

Quote from: robelneo on January 04, 2025, 06:24:30 AM

If they regulate it, they will tax you, and on our side here, you get deducted 20% depending on the prize. Our government implements a system where they operate some of the gambling platforms, like lottery and casinos, so they get the profit, and they also tax your winnings.

In the Philippines, I believe lottery winnings weren’t taxable before, but when the TRAIN law was introduced, they started taxing 20% of the winnings.
Just imagine hitting $1 million - they’d take $200k off the top. Easy money for them, right? Makes you think twice about those “lucky” wins!

Yes, those were the good old days, but the government needs more sectors to tax and gambling is a cash cow that they cannot ignore. I always laugh whenever I read or watch that there is a winner of the 100 million lottery, as if the winners will get all the money home. Those who are betting in a lottery and casino should be aware of the tax that's being deducted on their winnings, so they will not expect the exact winning, and the announcer should always announce the percentage of the tax that will be deducted.

That's already given, any country would find a way to increase its tax colelction, especially with our country that are spending more than it earns daily, leading to ballooning debt. But taxing lottery winnings, especially when the lottery is government-sponsored, doesn’t seem like a great idea.

Why not just give the lucky winner their full prize?
After all, they’re already making millions, if not billions, from lottery bets every day.

jcojci

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I don't pay taxes for my gambling winnings. Gambling in my country is prohibit but we can gambling by online because some Internet provider still allow the access to the online casino.

If you avoid taxes, you may get trouble if your government know because they will chase you and force you to pay the taxes. But that will only happen to the country that have gambling tax.

Botnake

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Quote from: Odohu on January 04, 2025, 08:03:28 AM

This is why when I see people talk about taxes on gambling and cryptocurrency, it usually sound strange to me as I struggle to understand how the government will be able to make people pay such taxes and at what point such taxes can be paid.

If gamblers win, they can pay taxes, but looking at the bigger picture, we shouldn’t really be paying taxes since most gamblers end up losing money. It’s just the reality of gambling. That’s why I don’t agree with the government’s law to tax gambling winnings.

It might be acceptable for huge wins, like lottery jackpots, but for something like sports betting, winning $1k or a little more - it feels unfair. That’s why I brought this topic up, to understand how tax policies on gambling winnings differ from country to country.

Odohu

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Quote from: Botnake on January 03, 2025, 07:02:49 PM

Just curious since there are countries where gambling winnings are taxable... Those who have experience paying taxes on gambling winnings, how much do you typically pay? Also, is there a way to avoid these taxes without getting into trouble? If you don’t mind, please share your insights and mention the country you’re in if possible.

Taxes on winning depends on your country of origin or resident because casinos operate based on the prevailing local lows or their country of registration. That being said, my country does not tax gambling winnings same way they rarely tax cryptocurrency so we are more or less operating a free country in many things, thanks to oil deposits where our government is making so much money that is why they don't care about my small money. This is why when I see people talk about taxes on gambling and cryptocurrency, it usually sound strange to me as I struggle to understand how the government will be able to make people pay such taxes and at what point such taxes can be paid.

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Quote from: Russlenat on January 04, 2025, 07:04:46 AM

Quote from: robelneo on January 04, 2025, 06:24:30 AM

If they regulate it, they will tax you, and on our side here, you get deducted 20% depending on the prize. Our government implements a system where they operate some of the gambling platforms, like lottery and casinos, so they get the profit, and they also tax your winnings.

In the Philippines, I believe lottery winnings weren’t taxable before, but when the TRAIN law was introduced, they started taxing 20% of the winnings.
Just imagine hitting $1 million - they’d take $200k off the top. Easy money for them, right? Makes you think twice about those “lucky” wins!

Yes, those were the good old days, but the government needs more sectors to tax and gambling is a cash cow that they cannot ignore. I always laugh whenever I read or watch that there is a winner of the 100 million lottery, as if the winners will get all the money home. Those who are betting in a lottery and casino should be aware of the tax that's being deducted on their winnings, so they will not expect the exact winning, and the announcer should always announce the percentage of the tax that will be deducted.

Taskford

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Quote from: Botnake on January 03, 2025, 07:02:49 PM

Just curious since there are countries where gambling winnings are taxable... Those who have experience paying taxes on gambling winnings, how much do you typically pay? Also, is there a way to avoid these taxes without getting into trouble? If you don’t mind, please share your insights and mention the country you’re in if possible.

Didn't experience that especially for winning on a online casino. Government doesn't have strict regulation about it especially we are dealing crypto. But if memory serves me right and I'm not wrong with this information gambling taxes will be asked if you win on state operated casino or lottery since provably that they are taking some percentage of your winnings.

But I don't in other country if there's certain law exist that force people to pay taxes came from their online gambling winnings. But if you are bother maybe try to contact tax experts or your attorney to know more about it since for sure they are the one who can give you a good explanation about this situation.

Topic: Anyone here had already paid taxes on winnings? - page 2. (Read 568 times)