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Hi, I have the the qestion regarding online poker. Individual who is tax resident in eastern europe country plays online poker and quite good at it. The winnings are transferred now into his bank account that is opened in the country of residence. Although the tax rate is not really high, there may be problems with reporting this proceeds to the tax authorities. Could you please share your experience. Is it feasible to collect all proceeds on bank account outside country of residence free of tax and use debit card or online banking then. I believe that these arrangements should be common, isn’t it? If it is feasible, what is the right place to open and maintain such bank account? Any other solution that is worth of considering? Thank you!
I could imagine a solution for you where you play as a registered poker player of a lowtax company on the basis of an employment contract. You could then split your revenues in a way that you receive a monthly fix salary, and all profits above remain at your employer.
Should you be interested in such a solution, please kindly contact us on drtoth@drtoth.eu.
We are a Budapest law firm specialized to international tax planning and company structuring.
We are looking forward to hearing from you.
Sincerely,
Dr. Zoltan K. Toth
REPLY:
Do you need to be resident in your Eastern European country? There are warmer options available that are more tax efficient.
We have a number of poker players and poker affiliates that operate a company in Malta not just for tax reasons.
There are very flexible fee models available depending on your turnover.
info(at)eu-hub.com Eu-Hub Malta Limited www.eu-hub.com A Hilton
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