Many countriesallow gambling but there are several governmental rules such as if a gambler wins a match then he/ she will have to pay tax. From the resultant gaming revenue casino also have to pay tax to the government which is further added to the revenue of the country. In this way, some economy gets benefits from gambling. Many countrieshave their own process of revenue collection from the casino industry. Well, the revenue process is based on the total profit of the casino per capita.
Government rule for taxation is complex
A country like US, Italy and many more which allows casino publicly, their main motto is to collect a great revenue that’s why they see the casino industry as a revenue generator. Many governmentsdeny the casino industry in their country as they think that this industry is the main reason for corruption and local crime. Hence there are different views on the casino industry. A country like Kenya has tightened the wings of the casino industry as a crimewas increasing day by day which is why the Kenya government had come up with 35% tax on gambling. Before 2017, the tax rate over gambling was 12%, the main reason behind this bold move was the youth were finding amusement in gambling instead of study or any creative activity. Apart from Kenya, there are many countries which restricts dg grand gambling like Germany.
Gambling tax distribution in the different country
Each and every country have their own way of tax collection. We should have an idea of the country which is at the top of the gambling tax collection as well as we are going to know about the country which offers the lowest tax for the casino industry. Germany has a very strict policy regarding casino industry, Chance it offers highest tax collection among all the country. Apart from Germany, France and Austria also restrict gambling and on three and four positions whereas Luxembourg, UK, Australia, Denmark, Poland, Macao, Kenyaetctop tax collector starting from 35% which ends on 90%. Interestingly, Russia offers 0% of casino tax. Like Russia Italy, Czech, US, Singapore, Cambodia, Belgium, Portugal, Argentina, South Africa, Finland South Africa, Finland. In these country tax on casino industry is between 0% to 6%. soanybody can calculate that there is a huge difference on taxation regarding the casino.
Everyoneagrees that the casino industry has a quality to generate revenue for a country. Then also many countriesdeny the casino industry because they believe that this industry plays a vital role in order to enhance crime and corruption.Moneylaundering isalso one of the threats whichhave a great impact on society as well as the country. Apart from this, there is the gambler have to pay individual tax but casino have to pay its tax monthly or else yearly.