I have searched and asked people but i dont hear a real answer on this subject.
Does anyone from Spain know whether the bookmakers or the banks or both report the player winnings to the tax authority? I know you are meant to self declare your profit on tax income form.
I have friends in Spain who dont work with betting who suddenly see the tax man arrive from out of the blue.
Spain
- steve smith
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Re: Spain
the best part of bet365 Spain accounts is you can bet for 2 weeks with no limits! then they close your account.
So instead of normal account restrict after a few bets in other countries, in Spain Bet365 sends you message to say your account will be restrict, but every account gets 2 weeks before they can do it, VIVA ESPANA!
So instead of normal account restrict after a few bets in other countries, in Spain Bet365 sends you message to say your account will be restrict, but every account gets 2 weeks before they can do it, VIVA ESPANA!
- arbusers
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Re: Spain
There is a tax you have to pay in Spain:
Up to € 12,450: 19%
From € 12,450 to € 20,200: 24%
From € 20,200 to € 35,200: 30%
From € 35,200 to € 60,000: 37%
More than € 60,000: 45%
However, if you are good in Mathematics, you can offset some (not all) losses from winnings and thus avoid being caught in the thresholds above.
In regards to the Bet365 limitations, I believe this delayed process is a result of this:
bet365-ordered-to-restore-account-limit ... 179#p72179
Up to € 12,450: 19%
From € 12,450 to € 20,200: 24%
From € 20,200 to € 35,200: 30%
From € 35,200 to € 60,000: 37%
More than € 60,000: 45%
However, if you are good in Mathematics, you can offset some (not all) losses from winnings and thus avoid being caught in the thresholds above.
In regards to the Bet365 limitations, I believe this delayed process is a result of this:
bet365-ordered-to-restore-account-limit ... 179#p72179
- barret19
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Re: Spain
Big locusts are operating with bet365 spanish accounts , and by big I mean really big sharks and some connected to Mafia activities (fixeds).
Lots of peoples ids are being used to create this accounts and they don´t know it.
I expect big problems for people whose IDs are being used. (enormous tax and penalties coming)
Lots of peoples ids are being used to create this accounts and they don´t know it.
I expect big problems for people whose IDs are being used. (enormous tax and penalties coming)
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- arbusers
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I studied the Spanish market and also contacted the tax authorities of the country via a Spanish member of our forum and I can say the tax regime of the country is not allowing much space for manoeuvring. However, there is some space if you are able to offset losses from winnings under very specific circumstances. Due to randomness of these business, you never know when these circumstances occur. You could be lucky, or unlucky with them. In the end, it is my view that it doesn't worth it spending resources and time to Spain.
On the contrary, someone with limited resources could easily make some money, say 10-12 K annually, with not so big effort. With Spain's GDP per capita at 28.000 euros, this is a very good addition. Some would say life changing, if guaranteed each year.
I might comment some more about the trap of taxes later on.
Once again, thank you for that post.
Re: Spain
This is a spot on post and thank you very much for it.barret19 wrote: ↑Sat Jan 22, 2022 3:05 amBig locusts are operating with bet365 spanish accounts , and by big I mean really big sharks and some connected to Mafia activities (fixeds).
Lots of peoples ids are being used to create this accounts and they don´t know it.
I expect big problems for people whose IDs are being used. (enormous tax and penalties coming)
I studied the Spanish market and also contacted the tax authorities of the country via a Spanish member of our forum and I can say the tax regime of the country is not allowing much space for manoeuvring. However, there is some space if you are able to offset losses from winnings under very specific circumstances. Due to randomness of these business, you never know when these circumstances occur. You could be lucky, or unlucky with them. In the end, it is my view that it doesn't worth it spending resources and time to Spain.
On the contrary, someone with limited resources could easily make some money, say 10-12 K annually, with not so big effort. With Spain's GDP per capita at 28.000 euros, this is a very good addition. Some would say life changing, if guaranteed each year.
I might comment some more about the trap of taxes later on.
Once again, thank you for that post.
- arbusers
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Re: Spain
This is the nature of locusts work.
Theoretically, the problem will be exposed the day the tax authority requests from all these poor people to pay the tax. It will not take 4/5 years. Then let's see what courts decide and who/how will stop the locusts.steve smith wrote: It will be interesting to see the results in 4/5 years time when the Spain tax ministry has caught up with all this
- steve smith
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Re: Spain
this was the reason for my original question.
If you think this will happen in less than 5 years then you do not know Spain, there it takes years for anything to happen.
I predict eventually the result will be the books will pay the penalty price, not the poor people who have accounts in their names, but it will be a scandal for popcorn and a comfy chair.
If you think this will happen in less than 5 years then you do not know Spain, there it takes years for anything to happen.
I predict eventually the result will be the books will pay the penalty price, not the poor people who have accounts in their names, but it will be a scandal for popcorn and a comfy chair.
- freaked
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Is it only gambling losses that can be offset from winnings, or "expenses" to enable the conditions to generate the winnings?
Have you posted about taxes yet?
I have some knowledge of the tax setup and availability of books in a handful of European countries, so am happy to contribute to such a thread.
Re: Spain
Very interesting postarbusers wrote: ↑Sat Jan 22, 2022 10:47 am
I studied the Spanish market and also contacted the tax authorities of the country via a Spanish member of our forum and I can say the tax regime of the country is not allowing much space for manoeuvring. However, there is some space if you are able to offset losses from winnings under very specific circumstances. Due to randomness of these business, you never know when these circumstances occur. You could be lucky, or unlucky with them. In the end, it is my view that it doesn't worth it spending resources and time to Spain.
On the contrary, someone with limited resources could easily make some money, say 10-12 K annually, with not so big effort. With Spain's GDP per capita at 28.000 euros, this is a very good addition. Some would say life changing, if guaranteed each year.
I might comment some more about the trap of taxes later on.
Once again, thank you for that post.
Is it only gambling losses that can be offset from winnings, or "expenses" to enable the conditions to generate the winnings?
Have you posted about taxes yet?
I have some knowledge of the tax setup and availability of books in a handful of European countries, so am happy to contribute to such a thread.
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- freaked
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Re: Spain
If a Spanish resident were to have a friend in a tax free country who would be kind enough to gift his winnings, the taxes would be lower;
easytaxspain.com/inheritance-tax-and-gift-tax/
Apparently tax laws are different by region in Spain, if some Spanish residents would like to chime in it may add some value.
easytaxspain.com/inheritance-tax-and-gift-tax/
Apparently tax laws are different by region in Spain, if some Spanish residents would like to chime in it may add some value.
- CharlieSheen99
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