Poker Tax: one win, one draw?
Published: 01 November, 2007
Anew regulation, that was set to require US casino operators to withhold a quarter of poker players’ winnings over $5,000, on behalf of the Internal Revenue Service, has been modified – such winnings now have to be declared, rather than ‘taxed at source’ by casinos, after March ’08.
Meanwhile in the UK, the government is understood to be reviewing the current tax arrangements on pariticipation fees for poker played in casinos, which currently do not attract gaming duty. A date has not been set for this review, but there may be an announcement in Spring 2008 before the next Budget.
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