Poker Tax

bigbadpat

Should all casinos, Poker tournament organisers & players be taxed ?

carfax

bigbadpat wrote: »

Should all casinos, Poker tournament organisers & players be taxed ?

All casinos and tournament organisers (that I know of) pay a lot of tax.

Players should not be taxed imho (the USA offers a huge pool of players to professionals/ profitable players, Ireland is a much smaller pond).

Ollieboy

bigbadpat wrote: »

Should all casinos, Poker tournament organisers & players be taxed ?

If i remember correctly the gaming laws were made or left Tax Free because of the National Lottery. If you start taxing poker winnings etc, you'll have to start taxing the lottery etc and I think they want to keep this tax free at the time.

The other problem is what losses can they write off against winnings, ie expense for travelling, reg fees etc. So how do you work out a correct profit figure for the revenue.

I do feel that any winnings over 10k should have a 30% deduction for any non-national and let them claim this tax back after they leave the country, but I'm sure this would have a major effect on the IO and IPC etc.

5starpool

I think I remember hearing that currently casinos (as private members clubs) pay tax on their profits, not on their incomes which would make a huge difference to the amount they pay out.

fatguy

I think if the irish .gov are serious about licensing and taxing poker rooms, they've got some job on their hands sorting it all out. There's so many ways to go about this, and coming up with a system that's fair for the players and remains profitable for the clubs to continue will be extremely difficult.

Wreck

bigbadpat wrote: »

Should all casinos, Poker tournament organisers & players be taxed ?

Ofc they should, they are business like any other, and as far as I know they are taxed currently.

Taxing players is a whole different story, and is currently deemed unworkable.

DEEP THROAT

Ollieboy wrote: »

If i remember correctly the gaming laws were made or left Tax Free because of the National Lottery. If you start taxing poker winnings etc, you'll have to start taxing the lottery etc and I think they want to keep this tax free at the time.

The other problem is what losses can they write off against winnings, ie expense for travelling, reg fees etc. So how do you work out a correct profit figure for the revenue.

I do feel that any winnings over 10k should have a 30% deduction for any non-national and let them claim this tax back after they leave the country, but I'm sure this would have a major effect on the IO and IPC etc.

The lottery was established when exactly.....

Gambling wins have been tax free since the inception of the state and have nada to do with the lottery ( which has a retention of between 50-60% going to the government coffers already )

Would Coke and Hookers count as a possible write off against winnings;)?

Would non nationals mean non EU nationals otherwise you'll be in the height of it with our friends in Brussels ( last African to cash in the IO was? )

big_iain

I don't think that this is a big issue.

Casinos and poker rooms should be treated as companies if they are not already.

They simply pay corporation tax at the appropriate level and only when they turn a profit after paying there expenses.

If the club can turn a profit then they can stay open and provide the service. They should be taxed on there profits only.

If they can't make a profit then you cannot tax them.

dannydiamond

Ollieboy wrote: »

I do feel that any winnings over 10k should have a 30% deduction for any non-national and let them claim this tax back after they leave the country, but I'm sure this would have a major effect on the IO and IPC etc.

Why??

The Clamper

As far as i am aware, each casino / card room pays normal corporation tax on profits and all employers liabilities on salaries
they pay VAT on goods the buy and services they avail of

as far as tax in concerned on tournaments, the only part of the entry fee and reg that gets taxed, is the reg fee

there is a VAT implication on that fee as this is generally the part of the money paid into a company that they keep, a charge to its customers, which then becomes taxable

to suggest attempting to tax players would be a nightmare for everyone concerned, including the givernment

players would have to register themselves as liable and most likely announce that they are professionals, this way they could calculate how much tax to pay by including all fees, such as entry fees, reg fees, travel to and from the venue, hotel stays, flights etc etc etc
then if they actually showed a profit, that would become their liability
if however, like 95% of players, they lost money, they would by default also be able to claim against their losses and seeK a payment instead of paying out

the government have clearly done the numbers and calCulated the odds of coming out on the better side of it and decided, rightly, to drop that as an idea

I would however suggest that if they are seeking to tax anything, then they should take a hard look at reg fees on online gaming, this would be a nice catch for them

in fact, if the government in the good ol USA recognised that fact, they would probably tax online gaming over there and make a fortune, which will probably happen now that they have an accountant in the whitehouse, who is clearly looking for ways to generate cash for the stricken country

taxing players, madness

its hard enough to come out on top as it stands


Derek