Re: Zimbabwe Votes and Backs 10% Tax on Sports Betting Winnings

Quote from: Ever-young on January 03, 2025, 11:42:59 PM

Quote from: Gozie51 on January 01, 2025, 07:02:43 PM

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 Grin

hehehe

I don't know how Zimbabwean citizens will react to such a law, but if you ask me, it's not really right and proper.

Gamblers place bets every single day, and they lose money in almost all their bets, and when they manage to win a little bet, which, if you check very well, out of all that they have wagered in the past, that winning can't amount to it, yet the government will want them to report such winning and remit some percentage of that amount to them as tax.

This is just daylight robbery when they can tax the gambling industry themselves for each money spent on their platform by their citizens and leave those gamblers out of this because this money will still, in one way or the other, come back to their economy.

The main responsibility of the governments of any country is the development of its country. And for this they need money, which is why they make various laws to collect money from different platforms. However, the laws they are making for gambling will definitely discourage gamblers. Gamblers will be more affected by this law. In this regard, if the Zimbabwean government had taken a decision after observing the negative and positive aspects of taxes, then it would have been better if it was not imposed on gamblers in particular, but rather tried to recover it through gambling platforms. Most of the gamblers lose, which is why if taxes are imposed, the losses will increase further, which can never be a good decision.