Anyone here had already paid taxes on winnings? - page 4.

Lida93

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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.

Basically I live in a country where gambling wins are really not taxed or in other words, not all gambling wins are taxed, there is a limited amount to which these wins are taxed and that's when it runs to a certain amount in millions (in the local currency).

And about invasion, you literally can't invade these tax due to the way the system is operated in such a manner that before your win amount would land into your account, the percentage charged as tax must have been deducted. I think this is done with an acknowledgement from the authority that there might be those gamblers who will want to subvert and invade the tax, because in reality nobody loves having his money cut.

blockman

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You know in our country mate, it's hard to check on the actual gamblers if they're paying taxes with their winnings. At most times, they're just ignoring it and letting it go and do whatever they can with their money. No political reasons but it's hard to get on this taxation if it's come from gambling because there's still a taboo in it.

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Quote from: _act_ on January 03, 2025, 09:17:57 PM

Quote from: maydna on January 03, 2025, 09:02:52 PM

I guess that amount will be vary and depend on how much our winning. That tax should adapt with the gambler situation so gamblers will not feels too difficult to pay the tax for their winning. If you only wins $10 but you should pay a high tax, that can make you in trouble because you will not have a chance to enjoy your winning because most of your win money will be taken for tax. I am not sure if there is a way to avoid that taxes because you will get more trouble if you do that. Your government can know if you win and not pay the taxes but maybe if you don't send the win money to your bank account, you can avoid it but I am not sure about that.

The tax is deducted in percentage. I do not think most countries tax should be very huge. It can not be more than 10 to 20%. So if someone won $10, the person can earn $8 or $9. In short the amount is determined in percentage. But what I think is that most governments will not consider those that win small amount of money like someone that won just $10. I do not think they can because of $1 or $2 tax evasion send someone to prison. They will not even notice such a person.

Gambling taxes will depend on every government's gambling regulation laws and this is deducted from the casinos. Taxes that is taken from a gamblers wins depends on the percentage that the government has pegged for gambling profits. They might not tax very small wins because it'll be very insignificant amounts but for substantial and huge wins they'll want to reap off their own percentage. If the percentage of government taxes are not much, the winning gambler won't feel the impact of their deduction.

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Quote from: batang_bitcoin on January 04, 2025, 03:55:21 AM

It's typically about our declaration if it can be added to income then it's subjected and classified as income tax. But if you don't want to declare that, and you're wanting to evade tax for your winnings then you might face bigger trouble when the taxation bureau finds it out. So, you volunteer and go ahead asking that to the staff in the taxation bureau or whatever it's called in your country. But I know, many gamblers don't mind doing that because eventually they've got more losses than winnings.

The application of taxes I think only applies in countries that legalize gambling, while in countries that prohibit gambling, of course the taxes do not apply, sometimes the application of taxes that are too high actually makes those who win will avoid the application and they do it in various ways, but I agree with what you said if transparency in reporting income, Including winnings from gambling, it is very important to help us in avoiding legal problems that may occur by the tax bureau, but in addition to having to fulfill our obligations in taxes, the tax bureau should also be able to provide us with guarantees and rights as taxpayers that need to be protected in the event of a problem.

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Quote from: Davidvictorson on January 04, 2025, 12:27:49 AM

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

Also, is there a way to avoid these taxes without getting into trouble?

Just like crypto tax, if you want to avoid paying taxes on gambling winnings without getting into any trouble, one of the ways that comes to mind is similar to that of crypto, just move to another country where gamblers don't pay any tax on their winnings.

All because of gambling? That is not necessary at all. Do you know that most gamblers are losing money? If a gambler is having losses while gambling, the gambler will have no tax to pay unless he earn back all the losses and then making money from gambling. Also someone may not know he will win just like in lottery and some people that unexpectedly won thousands or million of dollars while gambling.

danherbias07

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It was not paid directly but was automatically taken from the winnings. I experienced it at a nearby casino here in our place and it is explained why the winning amount is cut by some percent. After that, I didn't gamble again on that casino although they are the legal ones because they are taking taxes from you.
Still, I don't like the idea that it can be seen plainly because the winning amount will be different from what you will receive until how it goes with online casinos where you won't even feel it. I play in a legal local online casino so I don't think they are escaping tax, it's just that there no explanation behind it.

Jating

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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.

To be honest? No, I haven't paid nor I'm willing to paid my gambling taxes, maybe if I declare my winnings, but unfortunately I'm in the negative last year in my sports betting and other games. So I do not think that I'm oblige to pay.

But in any case that I have been call for not paying tax, then maybe. But so far I haven't heard anyone as well on gamblers paying their tax here in our country. Could be that it was not heavily implemented or the government doesn't have time.

batang_bitcoin

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It's typically about our declaration if it can be added to income then it's subjected and classified as income tax. But if you don't want to declare that, and you're wanting to evade tax for your winnings then you might face bigger trouble when the taxation bureau finds it out. So, you volunteer and go ahead asking that to the staff in the taxation bureau or whatever it's called in your country. But I know, many gamblers don't mind doing that because eventually they've got more losses than winnings.

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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?

All tax collecting countries are always mindful about your casino winnings. But, these days we can use VPN and/or offshore casinos along with crypto payments for not messing up our winning with taxation.

Moreover, you can ask your casino about their taxable liability to your resident country. It means if your country and casino's licence binding country are in double tax avoidance agreement, then casino will pay you after deducting the taxes and you can declare these in your tax filing. If your casino is paying in crypto and not minding about any tax then you are fully responsible for taxes in your country. These days, some exchanges are too concerned about the source of our crypto deposits and when you are converting your crypto using such exchanges then you can use the same reason in casino and for tax filing which will ease the total process somehow.

Jody.Drummer

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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.

During my gambling and of course there are occasional wins but I never pay taxes on the winnings I get whether it's because gambling is prohibited in my country or others, but what makes me curious when the country allows gambling is whether there is an obligation for someone who wins to pay taxes on their winnings? I'm quite curious about this, because I don't do it myself.
Besides that, I don't think players have to pay taxes when they win, the taxes that should be paid I think are the responsibility of the casino itself (the company). Because in my opinion, players are just patrons who want to find pleasure, wouldn't the option for players to pay taxes like this make them uncomfortable gambling?

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In Italy (EU) gambling wins are taxed like any other earning. But this is not too difficult to calculate since lower amount are taxed from bookmakers.
But is not uncommon that people has problem if they don't declare these win and they are getting government economic incentive...
Each nation has their loophole about paying taxes, the best solution is to find a kind of expert if you have an huge amount...

Davidvictorson

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

Also, is there a way to avoid these taxes without getting into trouble?

Just like crypto tax, if you want to avoid paying taxes on gambling winnings without getting into any trouble, one of the ways that comes to mind is similar to that of crypto, just move to another country where gamblers don't pay any tax on their winnings. To add, there are countries where the tax to be paid on gambling is transferred to the bookie and not player but I think that this is slowly changing. And from what I have read here, if you are based in countries like UK, Europe, Oceania and Canada, then are you likely not have to pay any tax on your online gambling winnings. This is about online gambling winnings and not winnings from landbased casinos.

Sanitough

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honestly, I’ve never paid taxes on my winnings although and I'm required to pay since its part of the income tax.
That's because the rules aren’t clear, and they’re not strictly enforcing it, more so, since most of the casinos I use for gambling operate outside the country’s jurisdiction, so I have the freedom not to pay, and they don’t even know I’m gambling.

I suppose if the time comes when they strictly enforce these rules, I won’t have a choice but to comply.
But for now, I’m enjoying my winnings tax-free!

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Don't taxes from gambling usually are part of "Other income" and then everything is just totalled and taxed then and there? That is if it isn't already automatically taxed by the casino, which in most cases in online casinos isn't afaik. Still the amount is usually 10% or so when the winnings is above a specific amount and not technically set at every gambling win you get. May vary though from country to country.

I think the most visible and obvious one you can use as a sample is lottery winnings? In the PH any lottery wins amounting to more than ~$171 (Php 10,000) is automatically taxed by the governing body by 20%. Below that, they aren't taxed.

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Quote from: _act_ on January 03, 2025, 09:17:57 PM

The tax is deducted in percentage. I do not think most countries tax should be very huge. It can not be more than 10 to 20%. So if someone won $10, the person can earn $8 or $9. In short the amount is determined in percentage. But what I think is that most governments will not consider those that win small amount of money like someone that won just $10. I do not think they can because of $1 or $2 tax evasion send someone to prison. They will not even notice such a person.

True, usually the winning tax is requested based on the percentage of the amount of winnings obtained and the percentage set varies depending on where gambler lives and the average tax is 10% to 20% of the percentage of winning, the amount of 20% in my opinion is also quite high because for tax such as winning reaching 10% is more than enough considering that gambler winning are not purely profit.
Tax will not recognize whether it is big witning or small winning, no matter how much winning will definitely get it, it is not surprising that there are people who avoid tax but I do not understand whether when it is known that there is evasion it can put someone in prison.

aioc

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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 have to pay on my own when my winnings come in a lottery or government-regulated gambling platform; our government already deducted 20% on winnings amounting to $200 or more; if its lower than that, this amount is subject to regular tax.
Our government does not have comprehensive guidelines when it comes to winning on online casinos; you have to declare it on your own if you want to. Since my losses are always greater than my winnings, I prefer not to declare them in my income tax.

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Quote from: Darker45 on January 03, 2025, 08:57:49 PM

Having said that, I have not paid any taxes on my gambling winnings, whether online or offline. Even brick-and-mortar casinos here don't deduct withholding taxes from winnings. I also often go to regulated cockfighting arenas where people place millions in bets. Some go home a lot richer, but nobody from the tax department made sure they've paid the appropriate taxes.

Thats how shitty are our Government. Also they only tax those got a name or famous one. Maybe thats why the users doesnt do the payment due to their unfair circumstances.

I think if winning big on casino, they deducted the appropriate taxes on winning like in lotto winnings. But not in the case of online gambling which they dont take a look or maybe due to no law for this or hard implementation on crypto sites.

EluguHcman

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My country does not tax gamblers but the gambling house. I am believed that those who pays the tax basically remits to the authorities based on percentage of their winnings.

The governments actually regulates the casinos in the respective regions so, they knows when a bettor wins which the system system sets automatic payment of everyone winners to the authorities domain accounts.

This can not be boycotted unless you already boycotted the recognition of the government not caption you from when you got registered there in the gambling sites but yet, I believe it is impossible to succeed it.

As governments authority order, sure they implements penalty orders to victims breaking the rules.

_act_

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Quote from: maydna on January 03, 2025, 09:02:52 PM

I guess that amount will be vary and depend on how much our winning. That tax should adapt with the gambler situation so gamblers will not feels too difficult to pay the tax for their winning. If you only wins $10 but you should pay a high tax, that can make you in trouble because you will not have a chance to enjoy your winning because most of your win money will be taken for tax. I am not sure if there is a way to avoid that taxes because you will get more trouble if you do that. Your government can know if you win and not pay the taxes but maybe if you don't send the win money to your bank account, you can avoid it but I am not sure about that.

The tax is deducted in percentage. I do not think most countries tax should be very huge. It can not be more than 10 to 20%. So if someone won $10, the person can earn $8 or $9. In short the amount is determined in percentage. But what I think is that most governments will not consider those that win small amount of money like someone that won just $10. I do not think they can because of $1 or $2 tax evasion send someone to prison. They will not even notice such a person.

maydna

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I guess that amount will be vary and depend on how much our winning. That tax should adapt with the gambler situation so gamblers will not feels too difficult to pay the tax for their winning. If you only wins $10 but you should pay a high tax, that can make you in trouble because you will not have a chance to enjoy your winning because most of your win money will be taken for tax. I am not sure if there is a way to avoid that taxes because you will get more trouble if you do that. Your government can know if you win and not pay the taxes but maybe if you don't send the win money to your bank account, you can avoid it but I am not sure about that.

Topic: Anyone here had already paid taxes on winnings? - page 4. (Read 568 times)