Post
Topic
Board Gambling discussion
Merits 2 from 1 user
Re: Zimbabwe Votes and Backs 10% Tax on Sports Betting Winnings
by
Zlantann
on 02/01/2025, 18:39:52 UTC
⭐ Merited by Coyster (2)
So what do you think about this new tax regime of gambling profit in Zimbabwe!

The government will always seek diverse means to fund its budgets. And in most cases they result in taxing the poor masses. This move might increase the government revenue from gambling. But it will also give rise to illegal betting platforms since gamblers will want to patronize them to invade tax. Possibly there might be an increase in the use of foreign online and crypto sports betting companies.

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Do you think the gambling population would see it as a fair system or they would evade paying the tax?

Nobody wants to pay higher taxes regardless of how easily the profit comes. Zimbabwean gamblers will see it as an attack and will sell for ways to invade this tax.

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More importantly, government introduce tax on gambling profit but they don't have repayment package for wager loses  Grin hehehe

It's clear injustice. Sports bettors should be allowed to deduct their losses from wins and the balance should be taxed. The government should know that these people have lost for a long time before they get a win.