Tax-Free Poker Site, Legal Situation For European Poker Players
For many years the legal situation for European poker players have been somehow unclear; are your poker winnings taxable or are they tax free? What are the criteria’s for a tax-free poker site, and why play tax free poker when there are so many other sites to choose from? We will help you to sort things out and clarify all the question marks concerning these issues here below.
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Poker Tax Free
European poker players can play poker tax free at any poker site that holds a European poker license, or operates under a European poker license. This means that the players don’t have to pay any tax on income related to the winnings at the poker site, if local tax authority’s should question the source of funds or any transactions the players can declared the funds in an fully accurate way.
Some poker sites don’t hold their own poker license but have permission from the license issuing government to operate under the networks or partners license. Most poker sites have detailed information on their website regarding where they are licensed and what kind of license they operate with; on websites you should be able to find license numbers and links to license issuing authority’s websites. If this information is not displayed on the website you should wright a message to the poker sites support personal asking a direct question regarding the license situation. Ask for the license number that they operate with and witch jurisdiction they are licensed in.
In the past poker site have given uncertain poker players difficult to interpret information regarding the tax situation for European poker players, most of these poker sites have been licensed outside of the European Union but don’t want lose a potential customer. Now that you know what to ask for there should be no problems interpreting their answers and clarify witch ones that are tax free poker sites.
Legal Poker Tax-free at a European Poker Site
There are many advantages playing at a poker site with EU license, the license issuing government and the poker site have to be in compliance with EU directives. These are rules and regulations that apply to every membership country and the registered companies in them.
In the EU countries there are strict rules regarding the handling of customers and clients funds that the European poker sites must follow. Money has to be kept at separate safe accounts and cannot in any way be used in the company’s ongoing business or transactions. Many countries and jurisdictions outside the European Union lack detailed regulations for these matters; this means that you never can be sure what your money is being used for and if you will get access to it when you want to make a withdrawal.
In the EU most citizens are familiar with the legal grounds and how to make a complain if anything should be wrong, in jurisdiction outside of the EU you cannot be sure about what to expect or what to do if anything would go wrong. Who would you turn to, and what would you do, if you were not to have access to the money that you have deposited or won at the poker site.
In many ways it is smarter for an EU citizen to play poker at a European tax-free pokersite; in fact it would be a gamble not to. Poker players want to be in control of the risks that they are taking in a poker game, calculating the pot odds and evaluating the game in every possible way. Why would you want to risk your bankroll in any other situation, risking it by making a deposit to an account in a faraway jurisdiction with uncertain rules and regulations or risk paying part of your poker winnings in tax? Play it smart; play legal poker tax free at a European poker site!