Big companies finally had enough of the excessive tax - page 11.

ethereumhunter

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Quote from: Johnyz on June 14, 2021, 05:56:28 PM

Quote from: goinmerry on June 14, 2021, 04:55:29 PM

Quote from: stomachgrowls on June 14, 2021, 04:01:09 PM

20% is indeed too much and i cant really blame them out for them to react and make out some appeal for those absurd set tax.

20% is just fine as long as it was structurally planned and organized. Like for example, if the gambling industry is really taking a big growth there, the government can imposed an additional tax on a yearly basis instead. There should be a reason for another taxation and if necessary to do so.

And while the gambling industry is blooming there, the same tax proposal should also be the same for other performing industries there but again, implement it slowly as we all know some industries are still catching up with their usual phase prior to the pandemic.

There's always a reason for government to increase the tax collection, that's their job in order to sustain the economic status. We all know in most of the countries, collecting taxes are one of the main reason why they are still functioning like in my country, taxes are very important especially during this pandemic where the government needs to collect money in order to help people and deal with this pandemic.

I am sure the government knows how much money every business made to calculate how much those businesses should pay the tax. Yes, the government needs to be fair to all companies and not apply higher taxes to the gambling industry. Besides that, if they can get the taxes from the business for more than 50% from the total business, that is big money from the tax, which can help the country's economy continue.

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Quote from: YinShuiSiYuan on June 14, 2021, 04:36:32 AM

Quote from: Obito on June 14, 2021, 04:24:34 AM

~snip

The fact that gambling companies earn is normal.
Everyone who wants to play decides what he want to do with his money.
In my opinion, taxes should be lower because that would simply make casinos take less to cover their own costs and gambling would have a higher probability of winning.

It doesn't matter if the tax is low or high, the number of people gambling will always be high and I am on disagreement with you because taxes is a helpful thing if in the right hands and I don't think that the government will settle for something really low.

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Quote from: ?? on ??

I agree, taxes for gambling companies should be similar to other companies. It's kinda unfair to fax casinos so much more than all the other sectors in an economy. For the people working on the gambling industry its just a normal job. There is no reason to just focus on one sector for the tax income of a country.

They distinguished gambling from the other companies because they found that casinos have lots of income and also have lots of players who are rich. their income will depend on whoever enters their place. Most of the time, people who enter there are rich, and maybe the government knows how much they get every day no matter how they want to get a lessen tax, they can't do anything about it since their income is not hidden from them.

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Quote from: goinmerry on June 14, 2021, 06:51:14 PM

Quote from: Johnyz on June 14, 2021, 05:56:28 PM

There's always a reason for government to increase the tax collection, that's their job in order to sustain the economic status. We all know in most of the countries, collecting taxes are one of the main reason why they are still functioning like in my country, taxes are very important especially during this pandemic where the government needs to collect money in order to help people and deal with this pandemic.

And during the pandemic, it's no secret that in most countries, online gambling is by far a good performing industry so it served as a good foundation to the government as a source of income.

In general, for this additional tax to be fairly agreed by gambling site owners, the government should also be serious in taking down illegal gambling operators and have a strict law about that so that people will not patronize illegal gambling sites and the revenue will only focus on legit websites.

In the name of sustaining the economic status, the government applies high tax collection, which not all gambling business owners will agree with because not all of them can survive in this pandemic. The government should think about the solution as the income from all gambling places will not be the same. Perhaps, the government can ask the gambling owner how much their income. After that, the government can determine how much taxes they can apply to the gambling owner.

Fundamentals Of

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Quote from: fiulpro on June 14, 2021, 12:19:12 PM

Quote from: Fundamentals Of on June 14, 2021, 08:44:58 AM

Sometimes I do think that gamblers should not carry a very heavy burden in terms of taxes because they often lose more than win. I guess majority of the gamblers are losing in total. They may win at times but lose most of the times. But I of course understand also that gambling is mostly nothing but a way for those who have the money to waste it so it is all right for them to be taxed heavily wasting money. I think a proper consultation among the stakeholders should be done prior to the implementation of this new tax policy.

Yes but at the same time we have to think about the people who win also and then loose a lot just because of such rules.
- Plus this is going to effect not just the players but also the companies and the sports clubs. It's complicated.

Yes, it is a lot more complicated than it seems. There should therefore be a proper consultation and discussion about the pros and cons of this increase in the taxes. Or else it might really end up doing more harm than good to the country.

Tax increases are always hated by people. But sometimes it is also tolerable if there is a noble goal in it. But it should be balanced. An excessive increase might only discourage gamblers and gambling investors alike. The result is negative instead of positive, a loss instead of an increase in revenue.

magneto

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Absolutely ridiculous.

The gambling industry is going to exist one way or another, regardless of whether or not there are 0% taxes or 20% taxes.

But when taxes are that high, it makes it completely impossible for these businesses to survive. So what do they do? They move underground and become unregulated entities that are more risky for individual retail players to deal with.

Is that something that the country's government wants? If the answer is yes, then they can go ahead with precisely what is proposed.

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Quote from: Johnyz on June 14, 2021, 05:56:28 PM

There's always a reason for government to increase the tax collection, that's their job in order to sustain the economic status. We all know in most of the countries, collecting taxes are one of the main reason why they are still functioning like in my country, taxes are very important especially during this pandemic where the government needs to collect money in order to help people and deal with this pandemic.

And during the pandemic, it's no secret that in most countries, online gambling is by far a good performing industry so it served as a good foundation to the government as a source of income.

In general, for this additional tax to be fairly agreed by gambling site owners, the government should also be serious in taking down illegal gambling operators and have a strict law about that so that people will not patronize illegal gambling sites and the revenue will only focus on legit websites.

Johnyz

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Quote from: goinmerry on June 14, 2021, 04:55:29 PM

Quote from: stomachgrowls on June 14, 2021, 04:01:09 PM

20% is indeed too much and i cant really blame them out for them to react and make out some appeal for those absurd set tax.

20% is just fine as long as it was structurally planned and organized. Like for example, if the gambling industry is really taking a big growth there, the government can imposed an additional tax on a yearly basis instead. There should be a reason for another taxation and if necessary to do so.

And while the gambling industry is blooming there, the same tax proposal should also be the same for other performing industries there but again, implement it slowly as we all know some industries are still catching up with their usual phase prior to the pandemic.

There's always a reason for government to increase the tax collection, that's their job in order to sustain the economic status. We all know in most of the countries, collecting taxes are one of the main reason why they are still functioning like in my country, taxes are very important especially during this pandemic where the government needs to collect money in order to help people and deal with this pandemic.

goinmerry

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Quote from: stomachgrowls on June 14, 2021, 04:01:09 PM

20% is indeed too much and i cant really blame them out for them to react and make out some appeal for those absurd set tax.

20% is just fine as long as it was structurally planned and organized. Like for example, if the gambling industry is really taking a big growth there, the government can imposed an additional tax on a yearly basis instead. There should be a reason for another taxation and if necessary to do so.

And while the gambling industry is blooming there, the same tax proposal should also be the same for other performing industries there but again, implement it slowly as we all know some industries are still catching up with their usual phase prior to the pandemic.

STT

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Theres a question of open government or authoritarian regime where you can only buy at set prices in pre defined ways decided by those in politics. It doesnt work generally or we'd be celebrating communism or the genius of Venezuela policies; instead China uses capitalism as a better system and generally its quite obvious forcing something through 'for the good of the people' is a poor action long term for most things.
The reason why taking 20% off every gamble made is poor is not by any political difference but maths, it will reduce revenue and in the end the government wont get the taxation revenue either it is expecting because they will have reduced usage of these local companies. Likely all that happens is that outside firms benefit rather then those close to the football clubs who would sponsor them directly.
Government needs to be a light touch or it easily becomes an interference and even obstruction that makes all its people poorer and worse off. There is no section of government producing or creating profits, all of it is at cost to the people so all matters should be to influence not dominate or the country suffers.

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Quote from: dimonstration on June 14, 2021, 02:01:10 PM

Quote from: ?? on ??

I agree, taxes for gambling companies should be similar to other companies. It's kinda unfair to fax casinos so much more than all the other sectors in an economy. For the people working on the gambling industry its just a normal job. There is no reason to just focus on one sector for the tax income of a country.

In my county online activities were taxed now unlike before that shopping online and playing online is free of tax, we were only able to pay when we use it in actual market. But when pandemic occurs all online transaction were taxed same amount with actual tax. It should be the same from actual tax to online for fairness.
[/quote]
Taxes for different category, maybe it’s not fair to have the same tax rate especially if you are dealing with a different product. There’s a lot of excise tax in my country especially on a sugary, cigarettes and liquor products because that is not good for the health of the people and I guess gambling also have the same classification with these products, they are not good if taken regularly. Some government will create more tax law to help then raise money, private companies are the most vulnerable to this.

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Quote from: dimonstration on June 14, 2021, 02:01:10 PM

Quote from: ?? on ??

~

Not that actually unfair but its just right that they should have more than in terms of taxation because if we do compared out on how much these businesses are earning then you can eventually tell that it is way too big compared on others.

But somehow the percentage or additional shouldnt really be too far off into those casual taxation percentage that had been set on most businesses in the country.

20% is indeed too much and i cant really blame them out for them to react and make out some appeal for those absurd set tax.

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Quote from: fiulpro on June 13, 2021, 01:24:37 PM

Now this is not just :
Unsustainable and unreasonable but according to them "ill timed", their whole sponsorships will be effected. This high taxation will also cause gamblers sore.

During pandemic the gambling is a huge income source for them and the government alike. Therefore I do believe that either they should have done it slowly or done it after the pandemic.

Don't know how's gambling in Kenya but 20% shouldn't be a problem if the trend is really on-demand there. Sponsorships shouldn't also a problem, since if gambling activity is hype there, then the exposure of those brands will always reach their target audience.

However, since not all industries are having the same approach, it really makes sense for gambling industries to voice out concerns about the tax.

I agree, imposing a 20% tax might be reasonable if it will be done slowly instead and not a one-time big-time implementation so that gambling companies can adjust.

dimonstration

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Dimon69

Quote from: ?? on ??

I agree, taxes for gambling companies should be similar to other companies. It's kinda unfair to fax casinos so much more than all the other sectors in an economy. For the people working on the gambling industry its just a normal job. There is no reason to just focus on one sector for the tax income of a country.
[/quote]
In my county online activities were taxed now unlike before that shopping online and playing online is free of tax, we were only able to pay when we use it in actual market. But when pandemic occurs all online transaction were taxed same amount with actual tax. It should be the same from actual tax to online for fairness.

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Quote from: Woodie on June 13, 2021, 02:05:01 PM

One effect of the high taxes: Maybe the high taxes a meant to discourage Gamblers from playing a lot because this pandemic can turn users into addicts and this is one way to slow the process down.

That is exactly what I was thinking but I don't think increasing taxes is the right way of doing it when people are already suffering from the pandemic.

Quote from: Woodie on June 13, 2021, 02:05:01 PM

The other effect from these high rates is going completely anonymous which means a missed opportunity for the government to collect revenue from gamblers as they will find alternative places to play the games they love.

Possible and very common but if the local authorities catch gamblers doing it, not just they have to pay a penalty on the taxes, they might be dragged into money laundering cases because crypto in some countries is seen as a tool for money laundering. A lot of gamblers are using VPN and gambling online to save all the taxes possible and when I see such absurd taxation rules, I understand why illegal gambling is so popular because the governments have imposed outrageous taxes.

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Quote from: Yogee on June 13, 2021, 01:45:23 PM

Quote

In a bid to raise cash for the financial year amid the struggles caused by the Covid-19 pandemic, Treasury Cabinet Secretary Ukur Yattani has reintroduced the tax, which was removed by President Uhuru Kenyatta in July last year.

I understand that people can become emotional everytime they see tax hikes or new taxes to be implemented but can we have the numbers before and after the tax was removed?

The proposal would tax the gamblers and not the casino or bookie. These companies thinks it would affected indirectly since one of the aim of the law is to discourage players but does that really stop them from gambling?

Hi
Let me quote something from the internet :

Quote from: Fundamentals Of on June 14, 2021, 08:44:58 AM

Sometimes I do think that gamblers should not carry a very heavy burden in terms of taxes because they often lose more than win. I guess majority of the gamblers are losing in total. They may win at times but lose most of the times. But I of course understand also that gambling is mostly nothing but a way for those who have the money to waste it so it is all right for them to be taxed heavily wasting money. I think a proper consultation among the stakeholders should be done prior to the implementation of this new tax policy.

Yes but at the same time we have to think about the people who win also and then loose a lot just because of such rules.
- Plus this is going to effect not just the players but also the companies and the sports clubs. It's complicated.

Fundamentals Of

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Sometimes I do think that gamblers should not carry a very heavy burden in terms of taxes because they often lose more than win. I guess majority of the gamblers are losing in total. They may win at times but lose most of the times. But I of course understand also that gambling is mostly nothing but a way for those who have the money to waste it so it is all right for them to be taxed heavily wasting money. I think a proper consultation among the stakeholders should be done prior to the implementation of this new tax policy.

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Quote from: AmoreJaz on June 13, 2021, 02:21:53 PM

Quote from: Yogee on June 13, 2021, 01:45:23 PM

Quote

In a bid to raise cash for the financial year amid the struggles caused by the Covid-19 pandemic, Treasury Cabinet Secretary Ukur Yattani has reintroduced the tax, which was removed by President Uhuru Kenyatta in July last year.

I understand that people can become emotional everytime they see tax hikes or new taxes to be implemented but can we have the numbers before and after the tax was removed?

The proposal would tax the gamblers and not the casino or bookie. These companies thinks it would affected indirectly since one of the aim of the law is to discourage players but does that really stop them from gambling?

if you are a regular gambler, the tax hike won't matter to you. you will complain at the start but you will still keep doing what you're doing afterwards. it may pose as a discouragement but they will only feel such hike at the start, but later on, they will go back to their normal routine.
as long as the government is putting the tax into good use, then, maybe people will understand such move. it may be hard at the start but there will be good consequences afterwards that people can benefit from. they can always find sponsorships that will be willing to face this change.

It would appear so but we cannot conclude that yet and it's what I'm trying to find out when I asked for the numbers. The Government officer who proposed to bring the tax back probably saw that there was no significant difference.

AicecreaME

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Quote from: Yogee on June 13, 2021, 01:45:23 PM

Quote

In a bid to raise cash for the financial year amid the struggles caused by the Covid-19 pandemic, Treasury Cabinet Secretary Ukur Yattani has reintroduced the tax, which was removed by President Uhuru Kenyatta in July last year.

I understand that people can become emotional everytime they see tax hikes or new taxes to be implemented but can we have the numbers before and after the tax was removed?

The proposal would tax the gamblers and not the casino or bookie. These companies thinks it would affected indirectly since one of the aim of the law is to discourage players but does that really stop them from gambling?

Exactly.

If I understand it correctly, gambling sites would lose their big players if they are the ones who's going to pay the 20% on every big winnings, which is insane, and slowly other players would lose their interest also in playing gambling in that certain country because of such regulation. Gambling sites have its own negative and positive effect on the community, but since it favors the rich even more, I guess their government is convincing people to stop playing gambling and do something else instead.

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Quote from: Woodie on June 13, 2021, 02:05:01 PM

One effect of the high taxes: Maybe the high taxes a meant to discourage Gamblers from playing a lot because this pandemic can turn users into addicts and this is one way to slow the process down.

The other effect from these high rates is going completely anonymous which means a missed opportunity for the government to collect revenue from gamblers as they will find alternative places to play the games they love.

They might have introduced the taxation system for gambling activities to restrict the players as number of casino users have increased during these pandemic but the main point is that they want to earn revenue from them in the form of taxation.They see that house is making huge profits without sharing it with government treasury then they impose such taxes of 20%.The small players will be hit hard with this decision and house profits will decrease automatically.If the government has made some decision then they must reconsider it with meeting with casino owners and gamblers at first and then pass law again with minimal changes.But this is not so good move on their part.

Topic: Big companies finally had enough of the excessive tax - page 11. (Read 2411 times)