Gambling Winning Taxation of Different Countries

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Gambling Winning Taxation Rules

We all love to gamble online, but do you know what gambling winning taxation rules your country may have?
We have summarised the various taxation rules for your convenience.

New Zealand Tax Laws:

New Zealand does not tax players if they are merely gambling for fun and not to generate an income, so Kiwi’s can keep spinning those reels on the pokies.

Tax will be due, however, if a player is a professional gambler, meaning he/she has no other source of Income.

In Australia, it is the complete opposite as professional gamblers are not taxed as they see it as recreational.

US Tax Laws:

Being a big Winner in a casino can often lead to you being a loser when tax season comes along, and each country imposes different tax laws on gambling winnings.

The US uses a flat rate of 25%tax rates on all winnings earned from gambling and apply it to all winnings. However, you can report your losses and offset them against your winnings.

UK Tax Laws:

The UK in the other hand does not tax gambling winnings, so there’s no stress for UK Gamblers, this applies even to those British Gamblers that play abroad as the UK has treaties with other countries.

An essential fact about UK tax is any winnings exceeding £325 000 could see you becoming liable for Income tax. This is not a gambling tax but an understanding that your winnings exceed the typical recreational play and are now a way of supporting yourself, almost like a vocation.

South African Gambling Winning Taxation Laws:

Gambling winnings in South Africa are tax-free unless you are a professional gambler. To choose an online casino in South Africa, we would recommend you either go to our list of South African Casinos or go to https://www.casinoza.com, which is a reputable casino directory.

Tax laws around the World:

Most other countries around the World don’t tax winnings derived from gambling; however, there are some notable exceptions.

In France winnings on casino games ( jeux de casino ) are liable for a 12% tax on any win exceeding €1500. In Spain winnings are taxed as personal Income so whatever your basic Income is this will be added to it as extra income and you will be taxed on that, meaning it will vary annually.

The EU Countries like Denmark, Austria, Australia, Belgium, Bulgaria, Canada, Czech Republic, Finland, Germany, Hungary Italy, Malta and Sweden pay no tax on casino winnings. Furthermore, Greece also doesn’t tax on Casino Winnings, but lottery winnings are taxable. The same applies to the Netherlands, Portugal and Slovenia. Spain can be taxed as high as 45%.

Some Mexican States withhold your tax on big wins and then pay out the balance.

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