Does implementing a tax on a gambling platform really help a country? - page 7.

BuNga_cute

full member

Activity: 1736

Merit: 116

Quote from: tabas on June 18, 2021, 05:55:49 PM

Quote from: Desmong on June 18, 2021, 07:17:43 AM

Tax implementation on gambling platform are mostly done by majority of developed countries which are means to track down online enterprises in making sure that due obligations are enforced.
Developing and less developed countries has no time or system to track down online business enterprises maybe because of their less exposure and corruption in the taxing system.

And that's why most of the developing countries are easy to impose ban on online casinos because they're more focused on the physical casinos so that the taxation are for real and easy for them to collect.
Unlike the online casinos, they can just fly everywhere they can and cannot be caught by the authorities if they evade taxes.

I think the government banned online casinos is not a good thing to do, because still countries that have banned online casinos, their citizens
can still access online casinos. The best step is that online casinos must be regulated by the government, so that the government can get tax
revenue from online casinos. Because in a pandemic situation like now, online casino users are higher than people who play in physical casinos.
Therefore my prediction in the future all online casinos will apply KYC, because surely the government is aware of the great opportunities that
can be obtained if imposing taxes on online casinos.

tabas

hero member

Activity: 3024

Merit: 745

Top Crypto Casino

Quote from: Desmong on June 18, 2021, 07:17:43 AM

Tax implementation on gambling platform are mostly done by majority of developed countries which are means to track down online enterprises in making sure that due obligations are enforced.
Developing and less developed countries has no time or system to track down online business enterprises maybe because of their less exposure and corruption in the taxing system.

And that's why most of the developing countries are easy to impose ban on online casinos because they're more focused on the physical casinos so that the taxation are for real and easy for them to collect.
Unlike the online casinos, they can just fly everywhere they can and cannot be caught by the authorities if they evade taxes.

suzanne5223

hero member

Activity: 2660

Merit: 651

Want top-notch marketing for your project, Hire me

Does implementing tax in a gambling help a country? Oh no. It only help the country to raise some funds which can use for the development of the country and for the tax fund to help the country depend on the government corruption level, we have seen a lot of countries with good resource which is enough to generate betterment for the country in spite that the countries are still poor. But, if the government are not corrupt and use the country fund very well, yes tax fund will help the country to grow.

Vaskiy

legendary

Activity: 2646

Merit: 1106

DGbet.fun - Crypto Sportsbook

Taxes will help each and every country in terms of financial development. When we talk of cryptocurrency accepted gambling, there is no perfect process by which one has to pay tax. Importantly people find it a way to avoid paying taxes.

The gambling service providers were mostly located on countries that give the best support on running the platform. Those countries will benefit good out of gambling in terms of tax. First of all countries need to prioritise legalizing/regulating the usage of cryptocurrencies, only then taxation can be made effective.

Tumanggor

full member

Activity: 1050

Merit: 109

1xBit.. recovered their reputation

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...

1. Taxes are the duty of every business as a support to the government and gambling is a business with big money in circulation
2. each country must apply a different tax on each of its citizens and in my opinion, the fair limit of the tax is 4% of the gambling winnings

3. some gamblers would think gambling tax is a bad thing but I don't think it is
4. This is again at the discretion of each country, but I think the owner of the gambling business is the one who is obliged to pay the gambling tax

Quidat

hero member

Activity: 2688

Merit: 540

DGbet.fun - Crypto Sportsbook

Quote from: Distinctin on June 18, 2021, 08:40:06 AM

Quote from: nakamura12 on June 18, 2021, 07:43:57 AM

There are physical casinos that payed taxes already which most of them are legalized by the government but I agree with the first post that taxes will only go to the corrupt government officials and the opposite if the government officials are not corrupt. Though some might be corrupt but still those corrupt officials didn't take all the money got from taxes. The answer to your question is YES and NO. The explaination is I already explained it above. ^

I would not think that way, why would they go to the corrupt officials? Maybe if the government itself is corrupt, then the officials that are running the country are corrupt, and no country would prosper that way. We are talking about the general effect of a country here, not a condition of what if the officials are corrupt because we already know the obvious answer in that situation.

Not that really bad on mentioning about corrupt because not all governments in the world would really be having the same behavior in towards on handling out taxes well and should be apply into things on where it should really be allocated or to be used on because there are places on the world where taxes is the main source of funds where these corrupt officials do stole on for their own benefit and yes its no brainer and no question about the outcome and of course there would be no progress for that one and this shouldn't really be a good example. Gambling businesses is normally should be imposed by taxes just like any other typical businesses because we know the vital role of tax
on a certain countries economy.

KTChampions

legendary

Activity: 2478

Merit: 1951

Leading Crypto Sports Betting & Casino Platform

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...

Any business that works in order to make a profit should be taxed, this is obvious and reasonable. Regarding the players, I have a different opinion - in my opinion, winnings should not be taxed at all or at a meager rate. The only problem that arises with this option is the emergence of the opportunity to cheaply legalize dirty money, but probably they just need to work better (the police) and look for dirty money at the time of earning it.

geegaw

hero member

Activity: 1316

Merit: 502

Quote from: DU18 on June 18, 2021, 08:15:20 AM

Gambling is a big business and is always loved by many people and even gamblers do not hesitate to spend their money at casinos, so that with the implementation of taxes, of course, it can help state revenue in terms of taxes. Many countries in the world take advantage of this, so these countries legalize gambling in their countries, and I am very sure that this business can encourage the country's economic improvement because casinos are never empty of visitors, but even so the government that legalizes gambling should have a special authority that handles gambling problems and the financial transparency obtained from the tax must be conveyed to the public, so that the government can prevent the occurrence of gambling tax evasion.

You also see that the casino is never without players and they also intend to be public and can always pay taxes to the government but very few countries can regulate this gambling system, the problem is not the casino, we are talking about the participation rate, many people did not earn income and lost more assets to the casino. Receive tax money to contribute to society, but society begins to have more cases of bankruptcy, even becoming poor, this part of tax is not really easy to swallow and can develop a country like many people's vision

RealMalatesta

legendary

Activity: 2338

Merit: 1124

Quote from: Vaculin on June 18, 2021, 04:33:39 AM

Any tax that the government will receive is considered as income, hence it will help in the financial aspect.

However, a country cannot just accept gambling operators and give them license without proper control, they should also look at the effect of the people within a country if overall it will not give a positive effect like it will increase the gambling addiction or the crime due to gambling, then there's no reason to be more aggressive in issuing a license, everything should be foreseen so risk could be managed.

The Philippines have POGO, these are gambling operators that are foreigners and cater only foreigners, so this way it will not make people addicted but the people will benefit from taxes through the government.

The problem with taxes is that people do not feel like their taxes goes to right place and in almost every nation that's correct. There are Scandinavian nations where your taxes goes to education, health and many other great stuff and people live a very happy life, Norway is considered the happiest nation of all time for example, they are living a great life and they are living very comfortably with a very high tax rate because they know that their taxes come back and help them a ton.

However in USA for example, you pay a ton of taxes and most of that goes to giving tax breaks to big corporations and pay for the huge military budget, last I checked USA was spending more on military than next 25 highest spenders combined, realize how big that is? 25 nations who spend the most money on military all combined do not spend as much as USA. So when implementing tax on gambling is a question it is not of "why" it is more like "then what?".

johhnyUA

legendary

Activity: 2436

Merit: 1849

Crypto for the Crypto Throne!

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...

The main pros that is fulfilling budget of the country with a lot of money. And this will not affect gamblers, if gambling industry is properly controlled by the law. In Las Vegas for example, casinos trying to force you to spend you money from gambling on their hotel or restaurant, because taxes for this types of business is much less than on gambling.

About tax percentage i'm not sure, because i unfamiliar with gambling business. Different businesses needs different tax policy as you may now.

Distinctin

hero member

Activity: 2926

Merit: 657

No dream is too big and no dreamer is too small

Quote from: nakamura12 on June 18, 2021, 07:43:57 AM

There are physical casinos that payed taxes already which most of them are legalized by the government but I agree with the first post that taxes will only go to the corrupt government officials and the opposite if the government officials are not corrupt. Though some might be corrupt but still those corrupt officials didn't take all the money got from taxes. The answer to your question is YES and NO. The explaination is I already explained it above. ^

I would not think that way, why would they go to the corrupt officials? Maybe if the government itself is corrupt, then the officials that are running the country are corrupt, and no country would prosper that way. We are talking about the general effect of a country here, not a condition of what if the officials are corrupt because we already know the obvious answer in that situation.

michellee

hero member

Activity: 2604

Merit: 816

🐺Spinarium.com🐺 - iGaming casino

Quote from: madnessteat on June 18, 2021, 06:13:52 AM

Much of this depends on the level of corruption in the country. If the level of corruption is low, then of course any taxation will benefit the citizens, as the funds received from the budget will be used to solve important social problems, but the level of corruption is high, then it is likely to bring more negative consequences.

Indeed. We hope that the country officer does not commit corruption so the tax can directly send to the country balance without any cutting for the corruption. But if that is about big money from gambling, it will look like "hot money" for the corrupt officer or the officer who gets seduced to take some amount because of knowing the total amount of the tax money. Therefore, it really needs protection from clean officers who will guard the money against the corrupt people and the lesser officers who know about that money will be better.

DU18

sr. member

Activity: 1694

Merit: 268

Binance #SWGT dan CERTIK Audited

Gambling is a big business and is always loved by many people and even gamblers do not hesitate to spend their money at casinos, so that with the implementation of taxes, of course, it can help state revenue in terms of taxes. Many countries in the world take advantage of this, so these countries legalize gambling in their countries, and I am very sure that this business can encourage the country's economic improvement because casinos are never empty of visitors, but even so the government that legalizes gambling should have a special authority that handles gambling problems and the financial transparency obtained from the tax must be conveyed to the public, so that the government can prevent the occurrence of gambling tax evasion.

nakamura12

hero member

Activity: 2268

Merit: 669

Bitcoin Casino Est. 2013

There are physical casinos that payed taxes already which most of them are legalized by the government but I agree with the first post that taxes will only go to the corrupt government officials and the opposite if the government officials are not corrupt. Though some might be corrupt but still those corrupt officials didn't take all the money got from taxes. The answer to your question is YES and NO. The explaination is I already explained it above. ^

shield132

hero member

Activity: 2352

Merit: 905

Metawin.com - Truly the best casino ever

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...

Not everything depends on the percentage of tax but on the government. If there is corruption in the country and the government takes the budget in their pocket and businesses, then high taxes are a catastrophe for people.
If the country is similar of Germany that wisely spends the money, then high taxes are good but not that high as Germany has. Btw this country is a good example, I have seen people here who are even willing to pay more than 42-45% taxes for their country and people. In exchange, they have free universities, amazing healthcare and insurance, good infrastructure, etc.

Personally, despite the fact that I am in the gambling industry, still think that high taxes there are good for the country and it's okay if the business gets less profitable, at least it will benefit society.
Gambling looks like this: Those who have a surplus of money play in casinos, then this casino gets taxed and some percentage of this money goes into the government's budget. In a good world, this budget should be used for people and if it's done that way, then great!

Desmong

member

Activity: 812

Merit: 13

Crypto bookmaker and casino

Tax implementation on gambling platform are mostly done by majority of developed countries which are means to track down online enterprises in making sure that due obligations are enforced.
Developing and less developed countries has no time or system to track down online business enterprises maybe because of their less exposure and corruption in the taxing system.

Xinarae*

sr. member

Activity: 1414

Merit: 326

Most countries impose a tax on gambling but it does not last long many do not want to pay taxes. In this situation the government is in the process of bringing the institutions under registration two companies have already registered for VAT the government wants to bring the organizations under registration by formulating laws or policies then besides collecting revenue propaganda can also be stopped using these platforms. But there is no government intervention in online gambling not everyone loses money at will and makes a profit.

DoublerHunter

hero member

Activity: 2590

Merit: 644

Quote from: madnessteat on June 18, 2021, 06:13:52 AM

Much of this depends on the level of corruption in the country. If the level of corruption is low, then of course any taxation will benefit the citizens, as the funds received from the budget will be used to solve important social problems, but the level of corruption is high, then it is likely to bring more negative consequences.

^ Probably it is, one of the major reasons is the corruption and we know that even which country there is a corruption that happens.
If the corruption will low there is a possible gambling tax that will really help the country and contribute a lot to the economic growth, that is why all gambling industries must under-regulated by the government and must be pay tax as revenue for the economic growth. How can I imagine there is a huge fund that comes from the gambling tax, 10-30% of all profit from gambling for the tax share is a really big amount.

madnessteat

legendary

Activity: 2310

Merit: 2073

Much of this depends on the level of corruption in the country. If the level of corruption is low, then of course any taxation will benefit the citizens, as the funds received from the budget will be used to solve important social problems, but the level of corruption is high, then it is likely to bring more negative consequences.

Kelvinid

sr. member

Activity: 2828

Merit: 344

win lambo...

Quote from: Vaculin on June 18, 2021, 04:33:39 AM

Any tax that the government will receive is considered as income, hence it will help in the financial aspect.

However, a country cannot just accept gambling operators and give them license without proper control, they should also look at the effect of the people within a country if overall it will not give a positive effect like it will increase the gambling addiction or the crime due to gambling, then there's no reason to be more aggressive in issuing a license, everything should be foreseen so risk could be managed.

The Philippines have POGO, these are gambling operators that are foreigners and cater only foreigners, so this way it will not make people addicted but the people will benefit from taxes through the government.

That's correct, allow foreign investors to invest and get the revenue through tax while protecting the people to gamble because the Philippines is a developing country, what it needs is to improve its infrastructure, create jobs and they can a good income from taxes revenue of the foreign operators.

Topic: Does implementing a tax on a gambling platform really help a country? - page 7. (Read 1323 times)