arbing with tax

Make bookmakers cash cow machines
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arbing with tax

Fri Dec 13, 2013 4:16 pm

Is there any money left arbing from countrys with tax ? Except getting new friends from other countries.
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Re: arbing with tax

Fri Dec 13, 2013 4:56 pm

There might be if you can arb with multiples but maybe this tax won't be implemented . In Greece that part of the law was revised.
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Re: arbing with tax

Fri Dec 13, 2013 5:11 pm

So now you can arb in greece? I hope that the law wount apply but small chances ,maybe the law will be revised but this will take time.
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Re: arbing with tax

Fri Dec 13, 2013 6:34 pm

Romania
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Re: arbing with tax

Fri Dec 13, 2013 6:35 pm

qbet wrote: There might be if you can arb with multiples but maybe this tax won't be implemented . In Greece that part of the law was revised.
So,don't bookies tax 10% of stake in Greece ?
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Re: arbing with tax

Fri Dec 13, 2013 10:55 pm

fnatic91 wrote:
qbet wrote: There might be if you can arb with multiples but maybe this tax won't be implemented . In Greece that part of the law was revised.
So,don't bookies tax 10% of stake in Greece ?
For all practical purposes they don't, unless odds>100 (or something like that). Perhaps this was done to ease the sale of the state operator. Is there a similar situation in Romania?
Many books left a year ago so the damage is done already. I don't think many books will stay in Romania either if the 10% plan is not abandoned.
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Re: arbing with tax

Sat Dec 14, 2013 5:34 am

Why 10% out of the stake ??? No one there can be trusted to file a yearly income tax return without quite a bit of prodding from Berlin and Brussels? Shit, I would be jumping up and down to have a tax code this simple:

Romania personal income tax rate is a flat 16%. www.taxrates.cc
Categories of taxable income include the following:

(1) income from independent activities: commercial, freelance, intellectual property rights. The taxable income is, as a general rule, the difference between gross income and expenses. A taxpayer who performs independent activities must make tax payments on account at a rate of 16%, except for income achieved by selling under consignment, intellectual property rights, commission contracts, civil convention and accounting expertise which is subject to tax conventions at a rate of 10%
(2) income from salaries: based on an individual's employment contracts or by statute provided by law
(3) trading activities, other than those listed in (1) above
(4) income from investments: dividends, interests, earnings from the transfer of securities, sale and purchase of foreign currency
(5) income from pensions
(6) income from agricultural activities
(7) income from awards and gambling
(8) capital gains from the sale of immoveable property is subject to a transfer tax rather than income tax. Property owned for less than three years is subject to tax at 3% on proceeds up to RON 200,000, or RON 6,000 and 2% on any excess above RON 200,000. For property owned for more than three years, the rate is 2% on proceeds up to RON 200,000 or RON 4,000 and 1% on proceeds over RON 200,000.

Income from dividends and interest is taxed through the withholding tax regime. However, the following types of interest are exempt from income tax:
- interest on sight deposits and current accounts
- interest on state and municipal bonds
- interest on certain bank deposits
- income distributed to members of mutual benefit funds based on the share capital held.

Capital gains from the disposal of shares in 'closed' companies are subject to 1% advance tax payment.

'Short term' gains from sales of shares are subject to tax at 16%, the 1% advance payment being deducted from this. For 'long term' gains, the 1% advance payment represents the total tax due on such gains. All other capital gains are exempted from taxation.

Other income exempted from taxation includes scholarships, income from external consultancy projects, work on approved projects in Romania, income from insurances and other damage compensation.

Personal allowances are available up to a maximum of RON 650. If the monthly gross income is between RON 1,000 and RON 3,000, personal deductions are reduced. For monthly gross incomes that exceed RON 3,000, personal deductions are not available. Taxable income is calculated after deducting allowable expenses, union contributions and private pensions contributions up to EUR 200 per year. The rate of tax is 16%.
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Re: arbing with tax

Sat Dec 14, 2013 12:54 pm

qbet wrote:
fnatic91 wrote:
qbet wrote: There might be if you can arb with multiples but maybe this tax won't be implemented . In Greece that part of the law was revised.
So,don't bookies tax 10% of stake in Greece ?
For all practical purposes they don't, unless odds>100 (or something like that). Perhaps this was done to ease the sale of the state operator. Is there a similar situation in Romania?
Many books left a year ago so the damage is done already. I don't think many books will stay in Romania either if the 10% plan is not abandoned.
may i ask you what are the initial  limits for a greek account holder at betoto ?
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Re: arbing with tax

Sat Dec 14, 2013 5:25 pm

fnatic91 wrote:
qbet wrote:
fnatic91 wrote: So,don't bookies tax 10% of stake in Greece ?
For all practical purposes they don't, unless odds>100 (or something like that). Perhaps this was done to ease the sale of the state operator. Is there a similar situation in Romania?
Many books left a year ago so the damage is done already. I don't think many books will stay in Romania either if the 10% plan is not abandoned.
may i ask you what are the initial  limits for a greek account holder at betoto ?
Betoto is banned in Greece. I think that they keep accepting Greek customers, but besides the easily surpassed problem of  access, you can't make any bank transactions with them (if needed).
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Re: arbing with tax

Sat Dec 14, 2013 5:33 pm

sportoboy wrote:
fnatic91 wrote:
qbet wrote: For all practical purposes they don't, unless odds>100 (or something like that). Perhaps this was done to ease the sale of the state operator. Is there a similar situation in Romania?
Many books left a year ago so the damage is done already. I don't think many books will stay in Romania either if the 10% plan is not abandoned.
may i ask you what are the initial  limits for a greek account holder at betoto ?
Betoto is banned in Greece. I think that they keep accepting Greek customers, but besides the easily surpassed problem of  access, you can't make any bank transactions with them (if needed).
I can see that betoto have listed only Greece and Cyprus as option when you open a new account, so i think they still accept greek costumers ?! what if avoid bank transfers and use only e-wallets ?
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Re: arbing with tax

Sat Dec 14, 2013 5:48 pm

fnatic91 wrote:
sportoboy wrote:
fnatic91 wrote: may i ask you what are the initial  limits for a greek account holder at betoto ?
Betoto is banned in Greece. I think that they keep accepting Greek customers, but besides the easily surpassed problem of  access, you can't make any bank transactions with them (if needed).
I can see that betoto have listed only Greece and Cyprus as option when you open a new account, so i think they still accept greek costumers ?! what if avoid bank transfers and use only e-wallets ?
You could use them probably only with e-wallets, but you would play with fire there as they asked often for a bank account withdrawal. I must say though that I haven't used them since the black list was published in Greece (August 2013), so I can't say if they still do it. I think that the limit was down to 50 eur stake for new accounts.
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Re: arbing with tax

Sun Dec 15, 2013 8:23 am

Lansky, I am not sure I get the idea of your post, you have pasted the personal income tax  description. How is this connected to incomes from betting with fixed odds? 
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Re: arbing with tax

Sun Dec 15, 2013 9:54 am

He said that tax will be 16% worst than greece,germany and he is right.
Jumping up and down of because you would be happy with a tax code this simple or why lansky?
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Re: arbing with tax

Sun Dec 15, 2013 9:52 pm

Jumping up and down because of the simplicity inherent in a low flat 16% tax.

For those of you who have never dealt with the American IRS and it's a$$hole auditors I can tell you the short version of the federal code is a mere 3,387 pages long. The extended version with all the footnotes, exemptions, loopholes, and who knows what else all written in "Legalese" (legal writing that is very difficult for normal people to read and understand; some say deliberately to exclude the legally untrained and to justify astronomically high legal fees) is another 13,458 pages. That whole thing or at least the copy I have in boxes out in the garage is 20 big thick volumes. Though someone was telling me a few weeks ago it's going up to 22 volumes.

Oh yeah... and that's just the Federal tax code. Each of the 50 states have their own as well with no two of them the same.
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Re: arbing with tax

Mon Dec 16, 2013 11:04 am

fnatic91 wrote:
qbet wrote:
fnatic91 wrote: So,don't bookies tax 10% of stake in Greece ?
For all practical purposes they don't, unless odds>100 (or something like that). Perhaps this was done to ease the sale of the state operator. Is there a similar situation in Romania?
Many books left a year ago so the damage is done already. I don't think many books will stay in Romania either if the 10% plan is not abandoned.
may i ask you what are the initial  limits for a greek account holder at betoto ?
10 eur max for live betting! I have heard that sometimes they ask for a bank withdrawal , so far never happened to me though!
On the other hand  despite the law the banks usually continue to accept payments from banned bookies with no problem

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