Gambling friendly countries - page 5.

EluguHcman

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Quote from: biggerthanawhale on February 19, 2024, 09:18:59 AM

We all know that gambling income is heavily taxed in most of the countries. This is because most of the countries have separate taxes for the gambling related income. I want to know which are the most gambling friendly countries which charge very less or nil income tax on gambling winnings ?

Tax on gambling winnings? Well in my country Nigeria there is no tax regulations on gamblers who bases on stakes with most potentials to loose their funds so, there is no reasonable reasons why such gamblers should be charged with fees. What compensation do they get from the commission they would remit their taxes to of they looses?
There is non tax charges on gamblers in my locality except for lottery winners.
The only Gambling personells that are charged to pay taxes are the gambling bookmarkers because they are strickly out there for business unlike individuals that stakes their personal funds in chasing either profits or funs.

swogerino

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There are loads of countries in the Balkans who do not give a damn if you win a lot of money and as far as I know they don't collect taxes from online winnings and where I live now in Albania,part of the Balkans if you win a lot they don't tax you anything.I have been personally in the biggest casino here,the only one allowed by the state and 0 tax is applied to winnings,the same I suppose of many other neighboring countries.

Coin_trader

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I’m not familiar with other country but my country PH doesn’t strict law on implementation of gambling taxes. Our BIR is not that strict on applying taxes on money won in casino except sweepstakes and other form of lottery which the government itself operates.

It’s up to you if you will declare your gambling income at the end of the year since there’s strict tax collection when it comes to gambling profit unlike other country which they definitely crackdown everyone. This is why there’s a lot of POGO(PH Offshore Gaming Operators) here due to our gambling friendly law.

Fivestar4everMVP

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Quote from: biggerthanawhale on February 19, 2024, 09:18:59 AM

We all know that gambling income is heavily taxed in most of the countries. This is because most of the countries have separate taxes for the gambling related income. I want to know which are the most gambling friendly countries which charge very less or nil income tax on gambling winnings ?

If you ask this same question on Google, you did find what you are looking, I've actually searched and found some articles based on this topic and question you are asking, but then, I am not going to share the information here, since it's dated way back and due to the changing economy in different countries of the world, such information as this can not remain the same for ever, because, a country that was once tax free for gamblers must have turned around now to start taxing gamblers and their winnings, while other countries that used to tax gamblers might have stopped due to one reason or the other.

So, in the nutshell, I still don't even see how knowing this information can help a gambler, since it's not like a gambler is going to leave his country to travel to another country just for the sake not to pay gambling taxes, makes absolutely no sense to me, expect the gambler wants to go on a vacation and wants to travel to; and spend some time in a country where he gamble, win and not pay taxes on this wins, then may such gambler should come to Nigeria.

Awaklara

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Quote from: salad daging on February 19, 2024, 09:43:49 AM

Quote from: biggerthanawhale on February 19, 2024, 09:18:59 AM

We all know that gambling income is heavily taxed in most of the countries. This is because most of the countries have separate taxes for the gambling related income. I want to know which are the most gambling friendly countries which charge very less or nil income tax on gambling winnings ?

Do you intend to move to a gambling-friendly country? That's not something that's easy because the taxation is going to be high anyway that I know of, but you can do your own research on which country you're looking at.

Some countries prohibit gambling but one can play at online casinos without taxation but it's all a risk, but I'm sure there are still many countries that allow casinos with little taxation.

maybe OP is serious about moving to a gambling-friendly country. Countries where gambling is legal understand how profitable the circulation of money in the gambling business is. they will impose quite high taxes. If users are charged a small tax, otherwise taxes for business owners will be high. everything will depend on government policy in managing tax revenues from gambling.
we have access to play online. perhaps acceptance from online and offline casinos will remain different. but some gamblers are more comfortable playing online than offline.

crwth

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I believe Monaco has the best in terms of getting your maximum payout of the gambling that you have. Most of the casinos there, I read, that it's really luxurious and you know that it's expensive and a reason to let people go in there and gamble.

Maybe Macau as well? I think it is the main purpose of people when going there. It's always because of the casino and I read somewhere that it has low tax rates for players.

Are you planning to go international OP?

Doan9269

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Quote from: biggerthanawhale on February 19, 2024, 09:18:59 AM

We all know that gambling income is heavily taxed in most of the countries. This is because most of the countries have separate taxes for the gambling related income. I want to know which are the most gambling friendly countries which charge very less or nil income tax on gambling winnings ?

Many countries could be gambling friendly as they permit for their citizens to enjoy in the participation of any gambling activities but going by the ones that charges less on income tax payment from gamblers winning, we can not have many countries under this category except for the developed ones where they consistently managed and regulate the gambling sectors, the gamblers make win and proceeds to catch out, left for the gambling platforms to know how they make a substitute on tax payments with the regulatory bodies.

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Quote from: biggerthanawhale on February 19, 2024, 09:18:59 AM

We all know that gambling income is heavily taxed in most of the countries. This is because most of the countries have separate taxes for the gambling related income. I want to know which are the most gambling friendly countries which charge very less or nil income tax on gambling winnings ?

Do you intend to move to a gambling-friendly country? That's not something that's easy because the taxation is going to be high anyway that I know of, but you can do your own research on which country you're looking at.

Some countries prohibit gambling but one can play at online casinos without taxation but it's all a risk, but I'm sure there are still many countries that allow casinos with little taxation.

coin-investor

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Quote from: Oshosondy on February 19, 2024, 09:29:53 AM

Why did you ask this question? I do not think anyone will want to relocate because of gambling to be tax free.

I do some findings about it and I saw this online https://www.vegasmaster.com/gambling-tax-free-countries

It might not be very accurate but when I check another site, I saw some countries that I saw on this site there.

This is another article and it supports those that are on your list
https://londonlovestech.com/the-most-gambling-friendly-countries-in-the-world/
People in those countries are lucky that they are not deducted from their winnings because they are rich countries and they tax their gamblers in a different but not their winnings and this is also to encourage gamblers to support the gambling platforms in these countries because these gambling platforms are paying taxes and they generate jobs and create companies that revolve around these gambling establishments, like restaurants, entertainment and hotels.

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Quote from: biggerthanawhale on February 19, 2024, 09:18:59 AM

We all know that gambling income is heavily taxed in most of the countries. This is because most of the countries have separate taxes for the gambling related income. I want to know which are the most gambling friendly countries which charge very less or nil income tax on gambling winnings ?

are you planning to migrate in that said country if there is one? Grin

because you seem to be interested in knowing which is which .

according to this site back in 2019 https://www.taxback.com/blog/the-ultimate-guide-to-gambling-tax-rates-around-the-world/

looks like Russia and Italy has Zero tax requirements .

Oshosondy

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Why did you ask this question? I do not think anyone will want to relocate because of gambling to be tax free.

I do some findings about it and I saw this online https://www.vegasmaster.com/gambling-tax-free-countries

It might not be very accurate but when I check another site, I saw some countries that I saw on this site there.

biggerthanawhale

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We all know that gambling income is heavily taxed in most of the countries. This is because most of the countries have separate taxes for the gambling related income. I want to know which are the most gambling friendly countries which charge very less or nil income tax on gambling winnings ?

Topic: Gambling friendly countries - page 5. (Read 628 times)