Are the Big Gambling sites paying taxes? - page 2.

Kotone

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Quote from: gilad215 on September 06, 2017, 09:58:41 AM

This had me thinking,
Since its all in cryptocurrencies, do these sites even open a company and declare their earnings?

What is the legal approach here?

Is opening a company more profitable? since paying company tax is usually lower than personal tax?
Also all of this has to be done where online gambling is legal?

Thanks.

It depends on their country wherr they are operating because that if the country that they are operating have regulations in place for digitized currency or cryptocurrency then there kust be something that we should all do in regards to following them

reliable

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Quote from: rodskee on December 28, 2017, 10:06:41 AM

Yes of course especially the land based casino gambling need to pay taxes in all governments where is the gmabling house location, also the leget online gambling need to get government permit to operate.

They have no choices also because else definitely the notices would be sent if they do not pay taxes and they may have to shut down their casinos. Also I think the tax department would be checking every year how much they pay taxes and if they find that its less paid they would go and do the raid so that they can get more money if paid less.

poplolnman

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Quote from: rodskee on December 28, 2017, 10:06:41 AM

Yes of course especially the land based casino gambling need to pay taxes in all governments where is the gmabling house location, also the leget online gambling need to get government permit to operate.

Unfortunately there's only few bitcoin casino who have registered legitimately and that's because they caught by the government itself to pay taxes. Believe me no one wants to pay tax, as long as they are free from government radar they won't do it . Especially Bitcoin where everything are running anonymously.

milewilda

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Quote from: pokeronlinestatus on December 28, 2017, 08:16:27 AM

Quote from: Seeker#9 on December 22, 2017, 08:11:09 AM

Those gambling sites that registered and given permit to operate are the ones that hould pay their taxes. There are many online gamblings that has no actual offices, and mostly runs by softwares. These sites raked millions of dollars in profits and don't pay any taxes at all.

Exactly, the sites which are enrolled in government’s papers pay taxes because in case if they don’t do so, they are going to face deep troubles. The government would ban such sites if they will not pay the tax and the requirements for their releasing would definitely be the tax itself, also a heavy amount of fine which they would pay for their wrong doing. Keeping this in mind, they are happy to pay the tax only.

It would be just normal to think of regarding on this matter because its just normal that they would pay up taxes because they wont able to get documentations or be considered as legal if they would avoid such thing and they would really face problems later on when government would find out that they are running gambling business which we do know we are talking thousands or millions of money here and been known that they are not paying up taxes? For sure they would be fucked up.

rodskee

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Yes of course especially the land based casino gambling need to pay taxes in all governments where is the gmabling house location, also the leget online gambling need to get government permit to operate.

SamsungBitcoin

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Of course this is kind of business and all business are subject to pay taxes, legal gambling site has a permit to operate that is why they have a paper that they need to pay taxes but there are some big gambling site didnt pay taxes but they are illegal business run by some government officials because more illegal activities here in my country which the official is the first owner of that businesses.

Noilee

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Yes, big gambling sites pay taxes, especially a popular gambling sites. They wont allow to operate if they don't pay taxes to the government, if they wont pay taxes it would be illegal so they pay taxes. Most of gambling sites are pay taxes and almost country will charge taxes to the big gambling sites. Even the small gambling sites was not exempted for the taxes all should be obligate to pay taxes so that they it will be legal.

newinbtc

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Yes they are paying tax that's why they are on the top if they do not pay taxes it called illegal services as per government norms. basically it depend on from where they are operating the casino if it online than may be few percent from the house edge they are paying to government ,IF they do not pay taxes government will declare Illegal and ban that site and also arrest their staff for violating the terms and condition of government . Some online gambling sites just show the the office address but in real no office address actually they are running on software basis , most of time that types of sites do scam in the last and run away with customers money.

pokeronlinestatus

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Quote from: Seeker#9 on December 22, 2017, 08:11:09 AM

Those gambling sites that registered and given permit to operate are the ones that hould pay their taxes. There are many online gamblings that has no actual offices, and mostly runs by softwares. These sites raked millions of dollars in profits and don't pay any taxes at all.

Exactly, the sites which are enrolled in government’s papers pay taxes because in case if they don’t do so, they are going to face deep troubles. The government would ban such sites if they will not pay the tax and the requirements for their releasing would definitely be the tax itself, also a heavy amount of fine which they would pay for their wrong doing. Keeping this in mind, they are happy to pay the tax only.

Netnox

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Most of the gambling sites are registered in countries such as Dominica and St.Kitts-Nevis, where there is no corporate tax. But at the same time, the users are liable to pay income tax on the earnings they receive from these sites, as they meet the residency requirement of the country in which they are living in. Actually this puts offline casinos at a disadvantage when compared to the online ones.

blockman

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Quote from: God Fist on December 22, 2017, 05:10:03 PM

Big gambling websites are usually offshore companies that can be just based in some house or garage

The same as I'm thinking of those big gambling casino's, they might also have an office or something like that but for bigger ones they must comply and have their own permit to operate. For small or start up casino's this is the reality that they are just starting out through their own rooms or garage together with his partner, maybe their team is compose of 3-5 people. To secure their growing business they need to do something so that authorities eyes will be far from them so paying tax is one of it.

siti25

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Is there a legal gambling site? Gambling sites that get permission from the government? If there are, then they should pay taxes. But different if they do not have permission from the government or they are illegal, then they do not need to pay taxes. They should pay, but they are released because it is not monitored by the government.

Theb

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Quote from: LuffyD.Monkey on September 25, 2017, 08:03:43 AM

Quote from: Kiweikoo on September 11, 2017, 10:46:58 AM

Quote from: SvenBomvolen on September 08, 2017, 05:19:17 AM

Of course they do pay taxes. To not be banned they they open an official firm which should to take a licence for gambling activity. Everything should be paid and all papers should be on place to a big gambling site could work. In the other case it's activity sooner or later will be cuted by government's controlling structures.

What the hell! Governments are highly involved in ruining the lives of people. When they know people end up living on streets, why they allow such sites to play with lives of people. When we know something is addictive, it should be not exposed publically because everyone does not have good self control.

I feel sorry to inform you that all the governments of the world are not really consist of good people. World's biggest disasters were caused by politicians for their own personal purposes. If they can kill people then making them a beggar is definitely nothing for them. Everyone uses his authority for himself first.

Kiweikoo I don't know why you are blaming the government as well as the casinos for ruining the lives of its users when the users themselves are the ones who are getting addicted to the game without the casino forcing them to play. The government of course are the ones who are allowing these kinds of businesses as they know that they are good money for the nation's income and also it serves as an entertainment for both their citizens and their tourists. Remember that the problem here is not the casino itself but the players themselves.

gabmen

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Quote from: mostkey on December 22, 2017, 02:00:58 PM

Quote from: ccris0637 on December 21, 2017, 12:44:55 PM

I think for gambling sites who are operating legally yes they pay taxes in response with their base country regulation just same with gambling casino who are using fiat money casinos with permit to operate pay taxes and those small time gambling are not but consider illegal and would pay fines if ever they are caught into operation.

very risky if the current online casino does not pay taxes. this must be paid because they also need security because they do not want to netted the operation. because if it happens they need to issue a bigger fine. although I believe many online casinos are illegal

Well with the amount that they're generating everyday, its just right they pay tax dues. These gambling sites are likely being monitored by their governments so they really have to pay taxes

God Fist

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Big gambling websites are usually offshore companies that can be just based in some house or garage and passing unknown for the authorities or even the people living in that area since it is illegal in most countries to gamble online . In fact many countries banned such games since it is tax free thus eliminating the profit that the country might have from such games and potential winnings so they tried to block credit cards from deposing in those websites or just not let people have access to it . Bitcoin has however solved that problem for a lot of people since it keeps the secrecy of the users .

mostkey

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Quote from: ccris0637 on December 21, 2017, 12:44:55 PM

I think for gambling sites who are operating legally yes they pay taxes in response with their base country regulation just same with gambling casino who are using fiat money casinos with permit to operate pay taxes and those small time gambling are not but consider illegal and would pay fines if ever they are caught into operation.

very risky if the current online casino does not pay taxes. this must be paid because they also need security because they do not want to netted the operation. because if it happens they need to issue a bigger fine. although I believe many online casinos are illegal

Seeker#9

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Those gambling sites that registered and given permit to operate are the ones that hould pay their taxes. There are many online gamblings that has no actual offices, and mostly runs by softwares. These sites raked millions of dollars in profits and don't pay any taxes at all.

ccris0637

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I think for gambling sites who are operating legally yes they pay taxes in response with their base country regulation just same with gambling casino who are using fiat money casinos with permit to operate pay taxes and those small time gambling are not but consider illegal and would pay fines if ever they are caught into operation.

lamjed

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In general yes, most of the gambling sites are paying taxes except Planetwin365. The seat of this compaign is in Giblartar. In this country Taxes are not counted. it reminds a bit Panama's system.

biskitop

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Of course. Try to imagine, every big gambling house, definitely get a great income as well. The government certainly does not want to lose taxes for it. Taxes are also useful for large gambling house (and official) as legal protection.

Topic: Are the Big Gambling sites paying taxes? - page 2. (Read 1584 times)