Re: Zimbabwe Votes and Backs 10% Tax on Sports Betting Winnings
To me it can be a draw back despite that the sporting events is getting patronage there but it is not like the US where gambling is already taken as investment and the gambling profit tax is about about 20% +
Do you think the gambling population would see it as a fair system or they would evade paying the tax?
More importantly, government introduce tax on gambling profit but they don't have repayment package for wager loses
heheheThe 10% Tax is really much if we consider the aspect that those gamblers also ends up losing a lot of money if they lose their bet. Since it was just a new law being passed, they would have started with as low as 1-2% but the stated 10% is too much and can make a lot of gamblers to rather focus on crypto online casinos or bookies.
The government don't seem to care about the losses of the bettors, they only want to reap from the lucky winningwinning but what they don't know too is that they will cause lots of these educated gamblers to evade the tax but looking for an alternative.