Essential Opportunities for International Online gambling
Whether it is in a branch of Casino, on one of the many sites, at a lottery or somewhere abroad, gambling is possible everywhere. And if you can bet anywhere, you can win there too. But in our fine country, where we like to speak straight laws, we often have to give up entire parts of the profits. How much exactly? And for what?
What can you expect from the Gambling Tax
Then you go to the high roller online casino, then you win a nice amount, and then you lose almost a third of the gambling tax. Different rules apply online, other rules apply from abroad, it is a web of laws where the overview is quickly lost. To make things easier to understand, we have listed the most frequently asked questions.
When is something a game of chance?
Let’s start all over at the beginning. Everything you participate in for a cash or goods prize is seen in the Netherlands as a game of chance. This can therefore be a lottery, a game in a casino or a game online. Since 1998, a game such as poker has also been subject to the Gambling Act.
If you win a prize at the buzz casino, the gambling company, the 29% of gambling tax is automatically deducted. This is the duty of the organizer of the particular game of chance and you have no further concern here.
However, many people do not know exactly how the Betting and Gaming Act works in the event that you win a large cash prize abroad. In this article we will further explain this situation and see how you can best act in this case.
The Betting and Gaming Act is constructed in such a way that if you can prove that you have already paid “a similar” betting tax abroad, you no longer have to pay any gambling tax in the Netherlands. This is arranged so as to avoid double taxation of gambling tax. Whether a “similar” gambling tax is already being levied differs per country and per gambling game.
Germany and Belgium
In the explanation of the tax gambling tax declaration, if you win a prize in Germany or Belgium, you are in any case eligible for exemption from the 29% Dutch gambling tax.
Viva Las Vegas
In the United States no gambling tax is paid on gambling profits. Citizens who win a prize must report this to the IRS with a “form W-2G”. Revenue tax must be paid on the amount won, often more than 30%. You will have a full idea for the same from online casino newsnow.
If you win a prize of more than $ 1200 in Las Vegas, the casino will normally hold 30% as an advance for the IRS. However, the USAhas a treaty with the other parts in which it has been agreed that this does not apply to other nationals.