Governments around the world looking to tax online poker wins
Wednesday 21st January 2009
online poker winnings. The very fact that the authorities have no control over the online gambling community has seen thousands and thousands of online poker players retain their winnings and not disclose them to the tax authorities. After a number of warnings it now appears as though the authorities are getting tough and coming after poker players for their pound of flesh!
However, we are seeing more and more recognised gambling sites applying for EU licenses with their operations based in Gibraltar. This offers a very interesting tax-free method of playing online poker although it is strongly advised that you check the small print on the sites which you are using.
Taxation on poker winnings is something which is set to hit the headlines over the coming months and years with more and more authorities looking to squeeze the industry and poker players as well. They have recognised the potential size of the market and the potential loss of taxation on all winnings. The treatment of winnings with regards taxation is a very grey area indeed and one which is worth checking out in order to cover yourself for the future.
online poker winnings. The very fact that the authorities have no control over the online gambling community has seen thousands and thousands of online poker players retain their winnings and not disclose them to the tax authorities. After a number of warnings it now appears as though the authorities are getting tough and coming after poker players for their pound of flesh!