Does implementing a tax on a gambling platform really help a country? - page 5.

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Quote from: Obito on June 22, 2021, 10:57:10 AM

Quote from: lienfaye on June 16, 2021, 02:22:09 AM

Quote from: Obito on June 15, 2021, 01:09:47 AM

~snip

Well said. Tax is really necessary to help build a better country and I think businesses like gambling casinos who are earning huge through their business has a responsibility to pay tax. It was like giving back for what they had, actually not only the businesses but every citizen who are earning above minimum are mandated to do so.

The only problem is (like what you also said) is the corrupt officials. If the money is in their hand they tend to be greedy and keep it for their own sake, though not all officials are acting like that.

I think that everyone who spends their money to buy goods and services are already paying taxes, it's just that it's so small that we don't seem to mind it. Your claim that not every official is corrupt is hard to believe in because I have grown in a country full of corruption so it's hard to find one that isn't and most of the time, they are either newbies in the league.

Although taxes are not fully able to help the state, but at least the existence of taxes will help ease the burden on the state a little, in every field in the country of course there are tax provisions that are indeed applied by the government, likewise with buying and selling transactions in that country, but we Know that the purchase tax is the smallest percentage tax available and may be under 5%.
With the implementation of the gambling tax, of course it will be very helpful, especially if it has a rather large percentage compared to other taxes, I think, as a society of course we have to think positively about the government authority that handles the tax and I really believe that no matter how bad a government authority is Of course, there are still people who are clean and anti-corruption.

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Quote from: lienfaye on June 16, 2021, 02:22:09 AM

Quote from: Obito on June 15, 2021, 01:09:47 AM

~snip

Well said. Tax is really necessary to help build a better country and I think businesses like gambling casinos who are earning huge through their business has a responsibility to pay tax. It was like giving back for what they had, actually not only the businesses but every citizen who are earning above minimum are mandated to do so.

The only problem is (like what you also said) is the corrupt officials. If the money is in their hand they tend to be greedy and keep it for their own sake, though not all officials are acting like that.

I think that everyone who spends their money to buy goods and services are already paying taxes, it's just that it's so small that we don't seem to mind it. Your claim that not every official is corrupt is hard to believe in because I have grown in a country full of corruption so it's hard to find one that isn't and most of the time, they are either newbies in the league.

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Quote from: fortunecrypto on June 22, 2021, 08:58:17 AM

Any kind of taxes will always good for the government, the primary function of the government is to provide function and serve orderliness to a country, they cannot do that if they will not impose taxes and taxes coming from casinos will be a big help to any government because they are one of the biggest business in the planet, they are a multi-billion dollar industry and they can even sustain a country, just look at Macau.

Well, taxes has been the thing for the government for a long time since our days in Rome, taxes build army, bridges, roads, dams and other things that seem stupid but we can't live without. The only downside of taxes is that when people that are in the seat of power are corrupt, you can expect that you won't see any improvement despite having a lot of taxes. Taxing the gambling industry is a good thing because as @fortunecrypto said, it is a multi-billion dollar industry and it's a stupid thing to not dip your hands in those money if you are the tax agency.

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What are the pros and cons of it?
- The pros of taxing gambling platforms is that the government is able to get big taxes since gambling industry is a really big industry. Cons would be that there will be fewer businesses that wants to do gambling because they know that the taxes are going to be expensive and the gambling platforms will pass the burden to their clients albeit in a subtle way.
What should be the proper tax percentage for you that they should impose.
- For me, I think a really high percentage is the best thing for taxation of these gambling platforms vecause we all know how much money they make in a single day let alone a holiday.
Will this be a bad thing for gamblers?
- Not necessarilly unless you can feel it's effects being shouldered on you but most of the time, people who play there don't feel it and gambling businesses have a way of making people spend their money anyways.

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Quote from: bitbunnny on June 21, 2021, 03:18:12 PM

There is no unique answer, everything depends on each country in particular, how the taxation system is functioning and how the collected taxes are reinvested. If that money serves the community or to politicians only.
If the taxation system is too stiff gambling platforms will move to other countries but in general I don't think there is any country in the world who made the fortune on taxation of gambling platforms.

I think you are wrong here. For instance, tax revenue from commercial casinos in the US is numbered in hundreds of millions, and sometimes even over a billion of USD per state, in the places like Pennsylvania, New York and Nevada. Also, I'm sure, places like Macau, Paris, London and Sydney are generating good tax revenue as well.

You are right on everything else, though. It's very important how the collected taxes are reinvested. Often a big part of the money is stolen by corrupt officials.

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Quote from: robelneo on June 21, 2021, 07:41:58 AM

Quote from: blockman on June 21, 2021, 03:48:26 AM

Yes, it's a sure thing that those will go with that said allocation. But as I've said too, if a country has already a good road and has perfect infrastructures, they won't just put it to that allocation. The government will put that through another sector that has been lack of funds and that's what I'm saying. As long as it's beneficial for the citizens of that country then that's where it's going to go. You enjoy to gamble, the casino gets taxed and they contribute to the service that the government is giving to its people freely.

All government where gambling is legal knows that gambling can be a good source of revenues, they are not only taxing the casinos, they are taxing its employees, businesses that worked with casinos, and entertainers, casinos are business that generates business, here in our country the government is running casinos and lottery so the health sectors has a good flow of cash, so we can conclude that gambling platform can sustain the needs of the government.

That is right and that's what I'm explaining that taxes are just going with those said allocations but it can be everywhere. I've forgotten about the taxation with the employees and owners who are also employees of their companies which is basically within a corporation aside from the business itself. So there's a lot of taxation that has been happening in there and they're all obliged to comply with the taxation as they profit too from their customers which is greater than what they're paying. Some may be able to hide their entire gross profit but still, they cannot be exempted through their taxes unless there's a law that they're exempted if they're minimum or below minimum earners being applied to the employees.

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Quote from: Roidz on June 21, 2021, 06:45:53 AM

Quote from: ethereumhunter on June 21, 2021, 12:52:11 AM

Quote from: ReiMomo on June 20, 2021, 05:00:02 PM

I'm not good about how the tax will go but I guess the allocation is most will come to us, just like building infrastructure, widening of road and repair and also our health and of course our public employees, such as teacher, soldier or any public worker that under by the public.

Gambling taxes was a huge help to the economy and it can be bost the growth of the economy, if your government is not corrupt, for sure there's a good innovation of your economy and the tax that collected from gambling is worth it.

The tax will be for building anything necessary for our country. The government already knows the tax allocation because they already have a master plan of what they will do with the tax. But if we talk about corruption, I am not sure that all officers can prevent corruption because it is happening in many countries. But there will be an officer who will stay away from corruption because they know that will break their integrity to take care of the taxes.

maybe many of us don't want or approve of taxes, but basically taxes are an obligation for those of us who really want our country to keep running and strong, because with taxes, the government will be able to get income to build any infrastructure or help the poor who need it indeed it still exists in our country, I think it is very important to apply a tax on gambling because indeed the amount of money turnover that occurs in gambling is certainly very large, so that at least the government can take a little benefit from it and of course with the tax proceeds it will be able to prosper its people .

Yes, that is because we use crypto, which provides anonymity to us. But I am still paying the taxes for my government and, of course, my bank monthly. Taxes really need to help the country grow and I see that gambling is one component business that can donate a big amount of taxes. Maybe the casino owner should get the taxes while the gambler doesn't necessarily get the taxes because we already pay the taxes from other things than from the gambling games.

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Yes it's going to help the country, isn't gambling industry a big money maker? Look at Macau, Monaco, and Las Vegas, they generate billions of dollars a year in taxes because a lot of people are gambling and they in turn make a lot of money. We all know that the roads and bridges won't be built if there were no taxes.

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Quote from: goinmerry on June 21, 2021, 05:59:47 PM

Quote from: Japinat on June 21, 2021, 03:35:42 PM

Indeed, the gambling industry is a billion-dollar industry, and they are profitable that's why some taxes charged higher taxes on gambling business as they know they are making a lot of money. Just try to imagine the saying that "casino never lose money", or " gamblers lose in the long run", you'll understand what would affect the profitability of the operators, which means they are just printing money.

The average revenues of regulated casinos under the government can be seen when they are declaring the tax. For that, if the casino's revenue is high from their usual during the pandemic, they are really bound to for a tax increase which is reasonable.

But that imposed tax should be back to its usual too once the gambling activity will be the same prior to the pandemic.

It's to balance everything fair and square.

also, casinos will not agree with the government if the tax is too much for their business. because they will know internally if they are still on the positive end even if the govt will impose higher taxes on them. because if they are on the brink of losing, they can always sit down with the govt and talk about their situation. either they will close the business or meet to a certain percentage of tax. of course, the govt will like for the casino to operate, because they can get good money out of it. so they will agree and meet to a percentage, wherein both camps are in the win-win situation. i dont think the govt will favour on closing down a casino business.

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Quote from: Japinat on June 21, 2021, 03:35:42 PM

Indeed, the gambling industry is a billion-dollar industry, and they are profitable that's why some taxes charged higher taxes on gambling business as they know they are making a lot of money. Just try to imagine the saying that "casino never lose money", or " gamblers lose in the long run", you'll understand what would affect the profitability of the operators, which means they are just printing money.

The average revenues of regulated casinos under the government can be seen when they are declaring the tax. For that, if the casino's revenue is high from their usual during the pandemic, they are really bound to for a tax increase which is reasonable.

But that imposed tax should be back to its usual too once the gambling activity will be the same prior to the pandemic.

It's to balance everything fair and square.

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Quote from: Slow death on June 21, 2021, 04:14:58 PM

I'm going to talk about my country, I think the tax charged in my country is very high and exaggerated, the government of my country, for example, in addition to charging very high tax, they charge a very high amount of fine in case of any infraction that the casino commit and this ends up leaving casinos in a difficult situation and does not encourage more casinos to want to be in my country

There are no adjustments made? I think if most casinos there will voice out their concerns, that should create awareness by your legislators.

And with high tax there, do you somehow feel that tax really used properly? If yes, I also like to have a high tax but should be reasonable and depends on the average income by both companies and people. I know there is no perfect government and corruption won't end but at least we should see where our tax is going.

Quote from: Slow death on June 21, 2021, 04:14:58 PM

Quote from: harizen link=topic=53a43885.msg57286521#msg57286521 date=1624308713

Cons - Corruption

unfortunately the tax is used improperly and that's why I think that in the case of my country the tax should be charged a low amount where both the government and the people gain. it hurts to pay high taxes and see that the government is not doing anything to make the country better

However, lowering taxes will even result in a worst-case scenario. That can be solved thru better adjustments though.

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Quote from: Japinat on June 21, 2021, 03:35:42 PM

Quote from: carlfebz2 on June 21, 2021, 03:33:03 PM

Quote from: bitbunnny on June 21, 2021, 03:18:12 PM

There is no unique answer, everything depends on each country in particular, how the taxation system is functioning and how the collected taxes are reinvested. If that money serves the community or to politicians only.
If the taxation system is too stiff gambling platforms will move to other countries but in general I don't think there is any country in the world who made the fortune on taxation of gambling platforms.

Not literally make out fortune but rather gambling taxes did make out big impact towards progress.
You are definitely wrong on this part because revenue made out by gambling industry isnt something that you cant just ignore or underestimate.
https://filmdaily.co/news/world-top-gambling-countries/

If their existence are not significant then doesnt mean that this industry is never been profitable.

Indeed, the gambling industry is a billion-dollar industry, and they are profitable that's why some taxes charged higher taxes on gambling business as they know they are making a lot of money. Just try to imagine the saying that "casino never lose money", or " gamblers lose in the long run", you'll understand what would affect the profitability of the operators, which means they are just printing money.

Gambling is a billion dollar industry, but for the countries that hasn't legalized the gambling service won't be profiting out of it. Because, people will get into other loop holes for their gambling needs. For example in my country gambling is illegal and I prefer certain online platforms for my gambling needs. This means if I loss the country in which the gambling platform is registered gets profited and it is bringing money into the country. This way it is true that taxation and gambling services profit a country if planned and developed in a well processed manner.

Slow death

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I'm going to talk about my country, I think the tax charged in my country is very high and exaggerated, the government of my country, for example, in addition to charging very high tax, they charge a very high amount of fine in case of any infraction that the casino commit and this ends up leaving casinos in a difficult situation and does not encourage more casinos to want to be in my country and also makes people's profits not to be expected. gambling are risky things and every time someone wins it is because they took a lot of risk and for that reason it would be fair for that person to pay a very low tax amount. at times I think that the government puts this high tax to discourage people from being in gambling, because it doesn't make sense to keep putting high tax value on gambling

Quote from: harizen on June 21, 2021, 03:51:53 PM

Cons - Corruption

unfortunately the tax is used improperly and that's why I think that in the case of my country the tax should be charged a low amount where both the government and the people gain. it hurts to pay high taxes and see that the government is not doing anything to make the country better

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Quote from: xSkylarx on June 15, 2021, 01:01:08 AM

Now I'm wondering, does implementing a tax on a gambling platform will really help a country?

- What are the pros and cons of it?
- What should be the proper tax percentage for you that they should impose.
- Will this be a bad thing for gamblers?

Obviously, any forms of taxation, in any industry, are good for the country, as long as tax will be used for its purpose and not ending up directly corruption.

Pros - In general, check what's the benefit of tax
Cons - Corruption

Tax percentage depends on how's gambling industry is performing in that country. It's not like the government can just set a percentage as they want. It was being discussed in a session.

I don't see any reason why it should be a bad thing for gamblers unless they will face an increase in fees on deposits and withdrawals. But anyhow, a gambler is a gambler and they won't mind it.

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Quote from: carlfebz2 on June 21, 2021, 03:33:03 PM

Quote from: bitbunnny on June 21, 2021, 03:18:12 PM

There is no unique answer, everything depends on each country in particular, how the taxation system is functioning and how the collected taxes are reinvested. If that money serves the community or to politicians only.
If the taxation system is too stiff gambling platforms will move to other countries but in general I don't think there is any country in the world who made the fortune on taxation of gambling platforms.

Not literally make out fortune but rather gambling taxes did make out big impact towards progress.
You are definitely wrong on this part because revenue made out by gambling industry isnt something that you cant just ignore or underestimate.
https://filmdaily.co/news/world-top-gambling-countries/

If their existence are not significant then doesnt mean that this industry is never been profitable.

Indeed, the gambling industry is a billion-dollar industry, and they are profitable that's why some taxes charged higher taxes on gambling business as they know they are making a lot of money. Just try to imagine the saying that "casino never lose money", or " gamblers lose in the long run", you'll understand what would affect the profitability of the operators, which means they are just printing money.

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Quote from: bitbunnny on June 21, 2021, 03:18:12 PM

There is no unique answer, everything depends on each country in particular, how the taxation system is functioning and how the collected taxes are reinvested. If that money serves the community or to politicians only.
If the taxation system is too stiff gambling platforms will move to other countries but in general I don't think there is any country in the world who made the fortune on taxation of gambling platforms.

Not literally make out fortune but rather gambling taxes did make out big impact towards progress.
You are definitely wrong on this part because revenue made out by gambling industry isnt something that you cant just ignore or underestimate.
https://filmdaily.co/news/world-top-gambling-countries/

If their existence are not significant then doesnt mean that this industry is never been profitable.

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There is no unique answer, everything depends on each country in particular, how the taxation system is functioning and how the collected taxes are reinvested. If that money serves the community or to politicians only.
If the taxation system is too stiff gambling platforms will move to other countries but in general I don't think there is any country in the world who made the fortune on taxation of gambling platforms.

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Quote from: xSkylarx on June 15, 2021, 01:01:08 AM

I see a lot of threads here about some countries imposing a tax on gambling casinos. And each forum member has their own opinion about this type of topic.

Now I'm wondering, does implementing a tax on a gambling platform will really help a country?

- What are the pros and cons of it?
- What should be the proper tax percentage for you that they should impose.
- Will this be a bad thing for gamblers?

Also, are these governments capable of taxing online gambling casinos that we often use like stake, chips, etc...

At the end of the day casinos and gambling is a form of entertainment if done right. Just like going to the cinema, skating an ice rink or racing go-karts. It has to pay at least the same amount as any other business and should maybe subsidize extra policing (entirely outside of their control) and social welfare programs (for problem gamblers). It should get no special treatment and might actually be subject to much more stringent financial checks because it is an industry that easily has the capacity for "cleaning" dirty money that criminals have acquired. A balance where the casinos can operate profitably but not so punitive that it drives the industry underground.

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Quote from: dimonstration on June 21, 2021, 01:31:09 PM

~ The problem now is not if the tax help its how the authority will use the tax.

I completely agree with your opinion. The main problem is exactly the waste of budgetary funds aimed at solving this or that problem through cunning schemes that allow you to withdraw part of the funds to the accounts of relatives or friends. I do not know how things stand with this in your country, but in Russia this issue is very acute.

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Quote from: Mauser on June 21, 2021, 05:08:13 AM

I would go so far and say that the tax rate doesn't have a big impact on gambling as long as it is reasonable. Most of the gamblers are in it for the big money, for a chance to win millions. Having to pay 10 or 20% taxes on our winnings won't make a big difference. I wouldn't expect that a lot of people will start gambling overnight just because the tax rate on gambling was lowered to 0%. So the government should just take its share, since they are also providing the infrastructure for the gamblers.

Putting tax in every businesses like in gambling casinos might it be online or not is a sign of being fair in law as it is considered as business. It can be small but it shows fairness for everyone plus the government can act if there are reports when something happens in such casino. Though it may be a small or big amount it will truly can help if the government alloted it well in some projects and not just in corrupt politicians. The problem now is not if the tax help its how the authority will use the tax.

Topic: Does implementing a tax on a gambling platform really help a country? - page 5. (Read 1323 times)