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Romanian government wants to raise taxes from progressive 1%,16%,25% to a unique tax of 40%


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Romanian government wants to raise taxes from progressive 1%,16%,25% to a unique tax of 40% no matter the sum withdraw .What is the gambling community doing about this ( unibet in particular)?

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Probably max 10% of players will continue to play. And those will lose big. 

I hope they will make it because too many people destroied their life. Casinos every 50m on the street and commercials on TV every 5 minute, it's not possible... 

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Addicts will destroy their lives either way, they don't play to win, they play for the high so if you take away gambling they will find some other way to fill that void and sadly the only people that will lose will be the Poker Players because we are thrown in the same category as slots. #FeelsBadMan

 

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It's my understanding it's just a proposal and there's been many of those over the years 😉 

I don't know the details of this one, but I doubt a 40% winnings tax will ever happen - primarily due to the extent you'd be pushing players to sites that aren't regulated and how you'd hurt the betting duties income. 

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8 hours ago, Stubbe-Unibet said:

and how you'd hurt the betting duties income. 

As I understand this won't happen, because they would tax the clients not the operators and  clients are paying a very marginal tax after their winnings, so anything higher than almost zero will increase the income. Or I misunderstood the whole thing again.😅

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11 hours ago, Stubbe-Unibet said:

It's my understanding it's just a proposal and there's been many of those over the years 😉 

I don't know the details of this one, but I doubt a 40% winnings tax will ever happen - primarily due to the extent you'd be pushing players to sites that aren't regulated and how you'd hurt the betting duties income. 

I like that you are optimistic about this. However, we are talking about highly incompetent and irrational individuals that have proven time and time again they can mess things up for no apparent reason. So yeah, I hope they don't do something stupid, but I expect it. 

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4 hours ago, psrquack said:

As I understand this won't happen, because they would tax the clients not the operators and  clients are paying a very marginal tax after their winnings, so anything higher than almost zero will increase the income. Or I misunderstood the whole thing again.😅

I’m making the assumption that the gambling volume with locally regulated sites will be significantly impacted = drop in betting duties.

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12 minutes ago, Stubbe-Unibet said:

I’m making the assumption that the gambling volume with locally regulated sites will be significantly impacted = drop in betting duties.

I still think the romanian government operates with fix price licences in direction of gambling operators, which means none of the operators will pay 40% more for the licence if a competitor could get it cheaper, and those duties were already payed out  for 5-10 years gap. So the possible the drop could happen in the future when the licence period is over and the gambling company wouldn't renew it but the more income from the players side will appear as soon as the regulation will be introduced.

But you are right I should have read the proposal instead of making assumptions.

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5 hours ago, psrquack said:

I still think the romanian government operates with fix price licences in direction of gambling operators, which means none of the operators will pay 40% more for the licence if a competitor could get it cheaper, and those duties were already payed out  for 5-10 years gap. So the possible the drop could happen in the future when the licence period is over and the gambling company wouldn't renew it but the more income from the players side will appear as soon as the regulation will be introduced.

But you are right I should have read the proposal instead of making assumptions.

Just to be clear, players will need to pay 40% taxes when they will make withdraw instead of 1% now, not operators. So if i deposit 80 euro and make 100 at sports or in the casino, when I will withdraw 100 I will receive 60 euro and 40 will go to the gov 🙂

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Quote

The three parties that make up Romania’s ruling coalition – Social Democrats (PSD), Liberals (PNL) and Hungarians (UDMR) – have agreed on several changes to the tax code that will be implemented starting January 1, 2023.

And tax raises comes as surprise to who?

Keep voting em socialists 🙃

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To bet or not to bet, that is the question.
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@Stubbe-Unibet @Jami-Unibet @Andy-Unibet It seems they will actually go ahead with the 40% Tax, now we will know how it will look in a couple of days but if i understood it correctly it will go live from 1st January 2023. So i have some questions, of for example if the tax will be on every withdrawal and i decide to not withdraw until i have 100k or more in my account and then i go and move to another country where Unibet has a license and i get a Job a House and a New Bank Account from that Country will I be able to withdraw those funds in the new account without paying the 40% outrageous tax for no benefits at all? 🤔

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5 minutes ago, FreedoM said:

@Stubbe-Unibet @Jami-Unibet @Andy-Unibet It seems they will actually go ahead with the 40% Tax, now we will know how it will look in a couple of days but if i understood it correctly it will go live from 1st January 2023. So i have some questions, of for example if the tax will be on every withdrawal and i decide to not withdraw until i have 100k or more in my account and then i go and move to another country where Unibet has a license and i get a Job a House and a New Bank Account from that Country will I be able to withdraw those funds in the new account without paying the 40% outrageous tax for no benefits at all? 🤔

Jerry Seinfeld Reaction GIF 

 

 

 

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"How often have I said to you that when you have eliminated the impossible, whatever remains, however improbable, must be the truth?"

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The Laffer curve, probably one of the easiest concepts to understand when it comes to public finance and taxation:

MQ

Politicians still mess that up...

 

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We're gonna win on so many levels! We're gonna win, win, win. You're gonna get so tired of winning, you're gonna say: "Mr. President please, we don't wanna win anymore, it's too much!" And I'm gonna say: "I'm sorry, we're gonna keep winning because we're gonna make America great again!"
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4 hours ago, FreedoM said:

So i have some questions, of for example if the tax will be on every withdrawal and i decide to not withdraw until i have 100k or more in my account and then i go and move to another country where Unibet has a license and i get a Job a House and a New Bank Account from that Country will I be able to withdraw those funds in the new account without paying the 40% outrageous tax for no benefits at all?

Answer to the Question: It's Not Possible! 

Sad Season 9 GIF by The Office

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Nothing's impossible I have found............................

 

........................except beating a 40% tax on every withdrawal. 🤮

"How often have I said to you that when you have eliminated the impossible, whatever remains, however improbable, must be the truth?"

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In the gambling chapter: 40% of the gain will be taxed (any gain), but an analysis will be made on how to tax at EU level to apply a model.

Jack Black Reaction GIF :0lucky2:

I know a lot can change in one day or until 1st of January 2023, but at the moment, things don't look good. 

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New Update 04.07.2022:

The amendments to the Fiscal Code are to be made into decision-making transparency by Monday and to be adopted next week, according to government sources. Compared to the option initially discussed in the coalition, political leaders have decided on several changes, including three thresholds for taxing gambling profits.

Measures include changing gambling taxes. Thus, earnings of up to 3,000 ron / 600 eu would be taxed at 10%, those between 3,000 ron and 10,000 ron / 600 eu and 2k eu - at 20%, and those over 10,000 ron / 2k eu - at 40%. For companies in the field, however, all taxes will increase by 40%.

Excuse Me Reaction GIF by Mashable

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