Topic: Anyone here had already paid taxes on winnings? - page 2. (Read 1099 times)

Is there anyone who actually wants to pay taxes though? Lol

I mean I understand that paying taxes is a will of a good citizen but let’s be honest if it wasn’t required, we wouldn’t be paying taxes at all? Why share your wins for the government to keep right? In a case that gambling is not allowed then and you still want to do your part as a citizen then you are just going to have to file it as an income tax.

If gambling is prohibited in the country, then even if you really want to, you will not be able to pay the tax in this case. Anyway, voluntary payment of a tax cannot ensure its guaranteed fulfillment, unless it is withdrawn when the winnings are issued/withdrawn.

Being a good citizen means obeying all government regulations, but if their problems are calculated in every win, I think it is fair if it is withdrawn by banking, but if it is cash, I think it will not be fair because as we know, one win in gambling is not a big win for free, but behind all that there is a time of loss, not always lucky

Currently in my country only the casino who wants to operate are the one who will pay the taxes and for those players wins their money on the casino are still safe on it afaik there's a thread created before here forgot where it is but it states that the casino will pay a percentage of taxes depends on the number of wins by the players. Haven't seen yet a player will pay a tax for their wins. So I guess still considered safe here once we win a large amount of money but seems never been experience like far from reality yet.

When a country imposes taxes on something the government of that country tracks them very well like countries where crypto is legal pay taxes on crypto and every financial year the government of that country takes statements of users of that country from all cex if any exchange. If the platform does not agree to give the statemen, the exchange cannot do business in that country. In the same way when a country taxes gambling winnings, they take statements from gambling sites that are legal in their country and collect that tax from customers. Gambling is illegal in my country so I didn't face it yet

Don't try to cut across paying taxes if you're in a country that taxes gambling wins, else there might be consequences based on the laws governing such countries.

In response to your question, I've not for once paid tax on my winnings. I think my country taxes the casinos and not their clients, so I withdraw 100% of my wins and only have to pay a normal tax for the bank alert and not on my winnings

In the lotteries here in our country, there are taxes that are actually deducted. If I'm not mistaken, it seems like about 12% will be deducted from the total jackpot you win in the lottery.
So if it's 100M$, about 12M$ will be deducted from my tax if I'm the jackpot winner.

But in illegal gambling, of course they don't pay any tax, but what's sad for the players they cheat is that for sure they deduct tax if anyone wins on their gambling platform.

That's just my personal opinion for myself in considering the tax, and I don't need to deny what you said because it's true.
in our country gambling is considered illegal, therefore there will be no taxation, or maybe in the future there will be again like what we have gone through before in Jakarta, the government allows casinos and imposes taxes on every casino company.
Crystal meth and illegal drugs are illegal if sold publicly, but there are always things that are allowed if they meet the regulations such as for research and treatment and there must be taxes if we talk about that.

I think from the aspect of paying taxes, this have to come from the casinos themself after making the required deductions over a winning before handling over the sum to the gambler, if not, it may not be that easy to get any further payment form gamblers once they were being issued the money they won for gambling, i know most of them will be absconding for tax payment except they were left without a choice right after winning and before they claim their winning.

You can simply surf the internet to know what each country demands as gambling taxes from its citizens/residents.

As for mine, I have paid nothing in direct gambling taxes. However, upon receiving any gambling inflow, the bank will charge what we call a stamp duty. But it's a very small amount, something less than $0.1 if converted.

The reason is that my country's government does not charge customers for gambling but the operators.

I think that it can be really silly idea to pay taxes on gambling if it is prohibited
I use mostly online casino with fiat money - they are allowed, so i think that they have to pay taxes, but i don`t know how they pay. If the tax services will ask questions - i can show money transfers from casino and show ToS that tells that the casino pay taxes for me. But as i said they never asked me.
PS. The situation looks the same with investment with the only difference. At the end of the year bank shows me my profit and taxes they paid for me.

You can say that but many countries also imposing tax for their citizen especially for those who receive salary. The government impose tax to develop their country because they say that tax will be used to build more good things in their country. But unfortunately, not many governments serious with that because we know many government officials corrupt the tax money for their own interest.

So that is why we also hear that many citizen avoids to pay the tax because they know that the tax money is not use for develop their country. It is why the government becomes more strictly for their citizen but I don't know why the government don't impose a high taxes for the richer people. They chase the middle people classes to pay the tax and educate them to pay at the right time because if not, they will get fine.

Even if that person withdraw his crypto to fiat, he doesn't have to report his winning to the government because he use crypto to playing gambling. The taxes that will applied to him will just based on his salary or income so that will not come from his winning in gambling. But gamblers will know what they need to do related to their winning in gambling and if they think that they want to pay the tax because that is the thing from the government law, they will pay the tax but will hide their winning in crypto.

Correct. If it's a digital cash application you will be questioned on where the money came from. The main reason will be the anti-money laundering act but if you pass that, next to it will be the taxation especially if you hit the ceiling where the amount should be taxed. Even if you reason out that it's some sort of business, you will still have to pay something so that the government will make money from you.
I think I have heard one story about this but I forgot about every detail of it. The only thing I remember is he was trying to cash out some sort of amount and he was surprised that the bank was not letting him through because he did hit the amount where it should be taxed and the remaining balance is not sufficient to complete the transaction.

Different countries with their laws, if you live in a country where tax is paid on almost everything then for sure you will be required to pay tax on every withdrawal to your account but you will be taxed according to your tax fixed percentage I think depending on your location and if you tried to escape it then you might be charged for tax evasion with the possibility of going to jail.
Hence in some country, government doesn’t take it serious unless you hit a big noticeable figure, so you might be taxed based according to your win..while some countries does not care about your gambling wins.

Yes there are countries where winnings are taxable but it's not on every basis, sometimes when one have some distinctive figures as wins they would be taxed to pay a certain percentage of money from their winning and in a country that's mandatory to pay this tax, I don't think there's a way you could run away from not paying cause just from your winnings they make the deductions and you are left with the remaining.

As far as I know in my country only lottery winnings are taxed... when someone wins his winnings are taxed right away, any winnings from other games are not taxed. I don't know if it also applies to those serious players who have deposits and withdrawals over $10k, the banks have an obligation to report it to the tax inspection, but I'm not sure how they look at it. I have never paid taxes on my winnings (which aren't that big), and since I only gamble with cryptocurrencies, I don't think about taxes at all. I mostly play in casinos without KYC, and I'm not a whale so I don't worry about it.

The winning text are different from one country to another. Many countries argue that Gambling, Trading, and Cryptocurrency Transactions are crimes that are not suitable for every nation. They show some logic that if a Muslim nation touches it then it will be a severe sin for that nation. It depends on the compliance with your country's laws. They don't know about the vast amount lost from their legal winnings. Many countries think cryptocurrency is a crime and many countries think that crypto is the gift of the modern era and there is a vast opportunity to profit.

In developed countries, gambling is directly sanctioned, so the government taxes gambling establishments and gamblers on gambling money. They only take place in countries where gambling is allowed. However, there are still many countries in the world that do not allow direct gambling, so if a gambler from those countries gambles in a casino company, he does not have to pay tax. The list of countries where gambling is banned usually includes Muslim countries as Islamic law prohibits gambling for Muslims. However, despite the ban, people from all those countries gamble secretly and if anyone is caught gambling, they are looked down upon and sometimes even punished.

That's true, I mean who likes to pay tax on gambling or anything at all ? Its another way of the government actually extorting gamblers and their citizens in general. Thankfully my country doesn't amount for such rules but notwithstanding if am forced to pay taxes on my gambling i guess I would have no choice but to comply moreover it will not be more than 5-10% of our winnings.

If there is such an opportunity, most people will not pay the tax on gambling winnings on their own. The only way to force a player to pay tax will be if the casino charges you after winning and then transfers it to the budget.