Topic: Nigerian Government plans to begin taxing gambling. - page 3. (Read 592 times)

In fact, if I lived in Nigeria, I would also feel burdened if I had to bear the tax costs for my gambling activities, we know that the country economy is not stable and imposing taxes can help, but this will give rise to different sentiments depending on government.
Indeed, they can use tax proceeds to improve the welfare of less fortunate people and help to develop several social programs, but they must really consider that the majority of gamblers are not rich people with more finances.
There will be significant reduction in physical gambling activities and I agree that this could make it possible for Nigerian gamblers to move into online gambling which is even cryptocurrency based.
Good impact is that crypto adoption in Nigeria will increase increasingly, but this will have negative impact on the value of Nigeria native currency and also inflation.

Point is that the government must be able to really consider every decision it takes, lest because of the demands of the country they sacrifice the small community regarding the impacts that could occur.

I don’t just know why the new government is just focused on tax alone, all what the administration is about is the money that will be entering the government account, and they are not making provisions for necessary things that the citizens need. If a government is imposing a heavy tax on its citizens, then the money generated is supposed to be well utilized well. Seriously, I don’t really like the idea of placing a tax on gambling because the money will still be embezzled by certain people, I just feel the government is taking money from the poor just to enrich themselves.

When a government is indeed lacking out in so many ways to find a means of stabilizing it dilapidating economy, they will have to considers falling back on the people and their businesses in other for them to increase the internal generating revenue they mint form the citizen and one of the ways through which they do this is by setting target on one of the most prolific businesses or activities and tax them, though for some reasons, everyone have to give full compliance to the demands on tax irrespective of the sector in involved.

The Nigerian government may have established an infrastructure such as we are introducing such a tax and then introduced the law so that the poor people do not suffer more losses from gambling. They may have arranged such a basis. Taxing gambling is something that has both pros and cons, and of course it depends on where you look at it. But in short, users will visit crypto platforms more.

I think the government should ban the casinos instead of imposing taxes due to which thousands of people's lives have been destroyed, and people have lost their precious money in gambling, it will be better than imposing taxes and fair gambling should be taken out of gambling and diverted to some other business from which they will also get the benefit, it will not only benefit them but the whole country will benefit, but unfortunately it does not happen, everyone thinks of their own benefit and Governments also does the same, they think of taxing anything that increases whether it is beneficial or harmful.

As society develops, everything is a new invention. Gambling, which used to be played in casinos, is now played online on mobiles, on which the gambler is already taxed for making withdrawals. After that, a tax is imposed on the place where you get the money, so I think it has already been done, the only thing left to do is raid and tax the big gambling dens.

it's both, the gambling site will be taxed based on their revenue and the gambler will be taxed based on their winnings(at least this is how it is in my country). also, regarding taxing the gambler's winnings, it is possible that the gambler's winnings will only be taxed if the winnings exceed a certain amount. what I am really curious about is whether the gambling winning of a gambler will be taxed automatically or if the gambler will need to declare their winnings so it would get taxed.

there is nothing to tax in gambling loses.

If it's easier to avoid being taxed when playing at crypto casino platforms, this new measure by the local government will definitely encourage nigerian citizens to move from physical betting shops to online crypto gambling. The government is in fact prejudicing the local businesses and endorsing the foreigner ones through this regulation. There aren't incentives for entrepreneurs to start physical betting shops businesses, since it's much more profitable and attractive to have a crypto virtual one.

Governments are the biggest obstacle for the citizens of a country who just want to work, to have fun and to thrive in life. They don't care for their people. They are just a group of few individuals who occupy power and influence positions aiming to take advantage of the rest of society who are outside their niche.

That's how gambling taxation works, when someone won x amount of money government will take y amount as tax which maybe deducted by the casino itself (most of the fiat casino) or the user has to report while filling his tax but when this is the first time they are going to tax gambling rewards it may look unfair and people always seek how about loss while gambling, why government doesn't allow deduction or exception while you lose, but that's the way it works whether we like it or not.

I don't see how taxing gambling is going to bring about depression for those who are gambling for fun. If I understand correctly how gambling taxation works.
 
I think you are only tasked not with the amount you spend on gambling but with the profit you realise from gambling, and it's when you request withdrawal from the casino that they will have to do the math, or you will directly report that yourself to the tax authorities.
 
If that's how that is being done, then I don't see this as something that will affect any gambler at all, aside from reducing whatever they will win from the casino during cashout.

This should not come as a surprise as one should have expected it from the tax-aggressive approach and desperation of this current government. If they've proposed to tax what shouldn't be taxed, how much more is gambling? At present, it is not entirely true to say the government is not earning from gambling taxes, only that they are not taxing the customers, but are certainly taxing the casino/sportsbook owners. If they are wise, why can't they increase the tax if at all they are more hungry for it, after all the house is the one making the big money, so why tax the poor citizens again?

However, in case they push it through, I am certain that they will not be so foolish about it. They will tax the gross winning and not tax the losses, especially if you are a loser but winning at times. It is those who are winning and have the overall gross winning that can be taxed in this sense. I am just saying though, I can't speak for the Nigerian government because they can do the unexpected and the unbelievable. That is how dumb they are, it is my country.

Nevertheless, it will be so provoking to tax all gambling transactions and that will even stop me from dealing with Nigerian gambling companies.

No taxes without representation, right? 
For some reason, more and more often everyone forgets that taxes are not a tribute, but a payment for something. Is the Nigerian government offering anything in return? For some reason, I have a suspicion that no, which means some gamblers will simply leave to play in crypto and local businesses will suffer losses. Another concern for people from officials 

I am surprised to know that there is no tax for gambling rewards/wins in Nigeria in the first place. They have a template as a reason for imposing taxes on gambling which is to discourage people from doing it, well it is not going to stop but generates revenue for the government and if the taxation amount is in the fair range then it's acceptable but do you know how much percent they are interested? Anything above 20% will push the people to go towards unrecognized forms of gambling.

If that taxation are for the winners in gambling, that will not be a problem for them because they can pays that taxes from their wins money. But if every gambler must pay the tax when they playing gambling, they could disagree because they thinks that gambling is just for fun.
But if the government still wants to introduction taxation to gambling, their people can not do anything except obey the regulation. They can not disagree with the regulation but they can complain with the regulation, especially if the tax percentage is too big for them.
The government must discuss this to all elements so they will know how much percentage that they can use for the taxation. Maybe this is the way from the government to reduce the number of people who playing gambling so there will be decreasing of the addicted people to gambling.

If the government wants to take tax serious gambling companies and gambling house it won't be bad because already they are making money but if the tax collection is something that has to do with gamblers it won't make any sense. Normally gambling is a risky game and after playing Several times and it ended as lose and one luckily win then tax will be collected. Gambling is a game of fun and if one wins it should be as compensation of all the lose that have taken place. I think this can reduce the interest of so many gamblers from gambling because their no essence to play when government will be having a cut from every win.

Well bro to say the truth I haven't really encountered this before or maybe it's because I have not won because I see that there are lots of people that understand this whole taxing of winnings in gambling especially the foreign but it's strange to me as a Nigerian because the taxing system in Nigeria is a little bit different because for all my wins and time playing both on online and even the physical shop that people gamble and win, I have not heard anything about them being taxed .

I doubt that a land based casino player will be discouraged to play by just adding taxes with their game unless the tax percentage level is insane then this is possible.

Land based casino is playing due to the gambling experience live in the casino. It’s very hard to enjoy online casino if you are a regular land based casino since you will keep looking for the physical experience that you enjoy in the casino.

I tried land based a couple of times and I will choose playing on it compared to online casino if my location is near on it.

well, considering the number of active gamblers we have in Nigeria, it's only normal for the Nigerian government to look into creating revenue from that sector.  Taxing gamblers win wouldn't have been a problem if the money gotten from such taxation would be used for the betterment of the people. It's still going to be same situation where they will tax the poor masses and use it to enrich themselves making the whole scheme counterproductive.

Other countries have been taxing her gamblers and the Usuall copy copy lifestyle is what's just happening and I bet these are the kind of things they would normally want to copy but won't see to it that they are also learning the developmental plan other nations are effecting in thier nation and see to it that they bring it to Nigerian.

Yes, I agree with you. Most likely, the methods the government uses may not be justified. Most likely, the number of gamblers will not increase; they will simply move online en masse. There may be fewer people in the casinos and slot machines. But in general I don't think people will stop gambling because the tax on winnings will be increased, I think people will look for other ways to gamble to avoid paying taxes.

Well, I don't know how the laws in Nigeria work, but in most countries for tax increases like VAT to be approved and taxes to be placed on many things, it is necessary for parliament to approve laws, I think that in Nigeria's case the government still It will take a lot of time to carry out a study on how to create laws on gambling and taxes, because it is not enough to say that they intend to charge taxes on gambling, it is necessary that they define the criteria on which conditions gambling sites could meet in order to operate in Nigeria so the government can collect taxes. For example, if a sports betting site currently operates in Nigeria, but the government of Nigeria does not have laws that establish that this site needs to have a license issued by the government of Nigeria, this site needs to pay using local banks and other local payment methods that are licensees

so the government of Nigeria could not be in a position to charge taxes, so they first need to regulate gambling sites with laws and then make laws about taxes on gambling: who will pay the taxes, what will be the amount of taxes, how taxes will be charged. I think this could take this entire year without being approved and implemented. Now, if it is implemented, another big problem will arise:

and that when the government makes laws on gambling and taxes, people who use international casinos that do not have a license issued by the government of Nigeria will then start committing a crime, because they will be using illegal casinos in Nigeria and will not be paying taxes. many people don't understand this

If the government of Nigeria can show the people where the gambling taxes are going, and the people can see that it's for the welfare of the majority of the people I don't see why the Nigerian people will decline or not agree, same thing happens here in our country people don't want additional taxes but when they saw that allocations totally go for the health sector, the people become supportive of the move


The only time that gamblers are not gambling comfortably is when they are losing. taxation in gambling only hurts gamblers when they win huge amounts of money as a big portion will go to the government.

It's not strange the World Bank always recommends tax measures because they want to see economic stability in a country that owes them a lot.


You cannot break the old habits of gamblers, some may opt for that, but the majority will adjust.