Online Casino

A Brief comparison on Gambling taxes

Introduction

The countries which allow gambling legally, the gambler there have to pay tax on winning. Not only players but also casino has to pay a definite amount as a tax to government from its Gross Gaming Revenue. In this way some economy gets benefits from gambling. All around the world, every country have its own strategy to collect revenue from casino industry. Generally it is based on net profit of the casino.

Tricky government taxation rule

Those country which allows casino publically, generally want to collect great revenue from casino industry.  But government policies regarding casino industry in different country is always not same. If we take an example of Kenya, the government of Kenya has approved a 35% of tax rate on gambling industry in 2017. Previously it was 12%, but the dramatic change in taxation over gambling industry was a bold move taken, in order to convey all other path career to their youth. While in Cambodia, the government has decrease the tax so that new casino investor come forward and increase the revenue for gambling industry.

Online Casino

Top highest and lowest gambling tax

As there is variable tax collection for different country, hence in this segment we are going to list top highest gambling tax and lowest tax around the world. Germany, France, Austria, Luxembourg, Denmark, Poland, UK, Australia, Macau, Kenya are on the top of the highest tax collector  around the world which start from 35% to 90%.on the other hand top lowest  casino tax collectors are Russia, Italy, Cambodia, Belgium, Czech, US, South Africa, Finland, Singapore, Portugal, Argentina. And the revenue collected by government is from 0 % to 6 %.In this way we see a great difference regarding tax in different countries. Singapore is having one or more system in the world based on revenue generated by different casino.

Conclusion

Now we know casino industry is a good revenue generator for a country, instead of that so many country refrain from gambling industry because the critics suggest that it increases the number of crime ,corruption and well as money laundering, which is always a great threat for a developing as well as developed country. There is individual tax on gambler along with casino also have to pay the tax as per monthly or yearly. There are also some other facts which makes taxation regarding casino very lenient or difficult in so many other country.