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xxps3  Tax-Free Online Casinos

The question of how online casinos and sports betting sites are taxed varies quite dramatically around the world. Some countries, such as Spain, require players to declare their winnings as earnings and are taxed accordingly. In America, a levy of 25% applies, which rises to 30% for players from abroad – something to consider when booking that trip to Vegas.

The laws in Germany are a little less severe, with the authorities imposing just a 5% rate on winnings. However, there are many countries that have chosen to bypass players altogether, instead putting the tax burden on to the gambling establishment itself.

So, tax-free online casinos are a reality for many players around the globe. The United Kingdom, Canada, Singapore, Australia, Italy, Portugal and Finland are just some of the places where players are permitted to keep 100% of their gambling winnings.

Where to find tax-free online casinos
Unfortunately casino games are not available on PlayStation yet, but Finnish PC and mobile players can find tax-free online casinos when they visit Casinopilotti.

When choosing an online casino, it’s very important to make sure that it holds all the right credentials – license and regulation – to operate in your jurisdiction. That way, you are protected by the laws of your country.

Players can protect themselves by choosing only those casino sites recommended by trustworthy sources, such as the one linked above.

Who pays tax at online casinos?
Tax-free online casinos are those where the player pays no tax at all, either on stakes or winnings. But with gambling being such a highly taxable activity, of course governments are going to impose charges at some point. The good news is, many countries have ruled that it is only the operators who must pay tax.

This also varies by region, with some places imposing very high rates on operators. In Macau, the rate is 40% of the gross gaming revenue (GGR), and in Luxembourg it can be as high as 80%. Other countries are much more lenient; in Singapore tax is never more than 15% of GGR, and usually just 5%.
Why don’t players pay tax at online casinos?
So, why have so many countries decided that gambling winnings are exempt from tax? There is more than one reason, but the primary issue seems to be one of keeping things simple. If winnings can be taxed, there is a case for losses being deductible. This could potentially cause some headaches, so the easiest way is just to tax the operator and not the player.

Some countries see a distinction between games of chance, such as online slots, and games that require skill, such as poker. Some also deem gambling winnings to be taxable if they constitute a profession or main source of income, although in many cases this has been successfully contested in court. However, due to the question of deductible losses, many places still prefer to tax only the casino itself.

European countries with tax-free online casinos
Many countries on the European continent with a regulated gambling market have decided that winnings are completely tax free. The UK, Italy, Bulgaria, Romania, Malta, Denmark, Belgium and Finland are just a few of them. For players who reside in one of the countries with tax-free online casinos, the issue of paying a portion of gambling winnings to the state will never arise.

Even players in countries where winnings are taxed may still be able to play, win and pay no tax. In some cases, the offshore online casino operators will absorb the cost of the government levy, leaving players to bank every cent of their winnings.

16.03.2020 10:33
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