According to Danish law and some tax experts, Peter Easgate might have to pay 45% tax on $500,000 and 75% tax on the rest of the winnings after that he won over 9 million dollars for the 1st place in WSOP Maint Event a few days ago.
Peter Eastgate was well aware of the high tax he had to pay if he stayed in Denmark and therefore he decided to move to England before the final table was p[...] Read more » WSOP: Maint Event winner risk to lose $6,2 million in tax
There are a lot of legal ways to avoid paying enormous taxes. I think Peter Easgate will find the at least one of these ways. Give me a million and I will find the way to avoid taxes.
WOW! 75% Taxes. I knew that the scandinavian states have high taxes for lots of things like cars, alcohol etc... but I think 75% is far to high. On the other hand he still would be a multi-millionare , that's not to bad....
[QUOTE]hat's insane! He won the money! why should he give money to danmark?[/QOUTE]
Maybe cause he went to school there, used their medical services, drove on the streets the state has paid for and all that other stuff that You can only have in a working society. Who shall pay all this if not some 22 Year Old who just won 9 Million Dollars? Though I admit that any Tax of more than 50% is obscene in my eyes.
Joined: Oct '07
Location: Denmark
Age: 49 (M)
Posts: 109
But imaging you have to worry about the taxes..... if that is the case and you have to move to e.g Monaco, England or any other places with no or low tax - then U know U have success at the poker tables Don't think Eastgate worries about the taxes.... he is a great danish guy that knows that money come - money go.... But he will as other danish pro's live outside denmark to avoid the insane taxes which some other guy "gladly" pays....
Joined: Mar '08
Location: Denmark
Age: 40 (M)
Posts: 1
"so if they can tax your winnings, can you deduct your losings????"
Gooooood question!! Have had a really bad year, will send a mail instantly to the ministry and ask 'em.. u can deduct a lot of things and its the time of year to do so - poker losses? Why not??
Joined: Nov '08
Location: Belarus
Age: 37 (M)
Posts: 12
One of Belarussian internet pro-players in my country won 1 million $$$ so know the goverment structures such as FBI in USA is looking for him=)))) and if they will find him he would be in jail without money 100%=))))))))))! That! is sick! government=)))!!!! Love to have your government=DD
Im sorry what were they smoking when they said the government could get 75% of all funds over 500k.. that is just ridiculous.. thats a third of his pot, making second place the better winner... that is one greedy government stealing 6 million out of his 9 million prize fund.. fucking hell... sriousely thats not on anywhere in the world....
Joined: Oct '08
Location: Netherlands
Age: 64 (M)
Posts: 2193
Posted by foleyseye: its a joke having to move for fear of tax, im from uk its the last place id be with that sort of money
Ha Ha Well I'm from the UK but I did not move here to Holland to avode paying tax I moved here to pay tax...( i.e. to get some work ) so i can pay tax.
Nice to meet you where in the UK are you from i'm from Newark but lived in Doncaster for a few years before i came here.
Joined: Dec '07
Location: Portugal
Age: 36 (M)
Posts: 22
Posted by kraemer:
Maybe cause he went to school there, used their medical services, drove on the streets the state has paid for and all that other stuff that You can only have in a working society. Who shall pay all this if not some 22 Year Old who just won 9 Million Dollars? Though I admit that any Tax of more than 50% is obscene in my eyes.
even so, that heavy too much. Those stuff you say. The country gives to all other ppl, if he win by himself the money... imo, 10% of taxes would be enought! Or are he working hard to give to country? Pff!
Joined: Nov '08
Location: United Kingdom
Age: 36 (M)
Posts: 73
god i love it, so amusing, haha, he should do what my uncle does and get a residence in the isle of sark tax is only 0.25% and am pretty sure gambling is tax free , i personally would do a runner and never go back $6.2 million, i can move my whole family , there friends, my freinds and anyone else for that matter to the exotic isles for that kinda money and live like kings i tell you, dam fool kings!!! what do you reckon odds are he actually pays the tax??
Joined: Nov '08
Location: Denmark
Age: 34 (M)
Posts: 11
Kraemer, first off - We do not have high taxes on alcohol, theres a reason danish is on the 7th place in alcohol consumption pr. capita and raising every year ( source is who.org - world health organization, you might have heard about them ). Brits and Americans is not even on the list :S
Second of all, yes theoratical we pay 68% BUT almost everything is tax deductable in Denmark. Stock losses, POKER losses ( yes it is deductable. ), loans(debt), travel - meh name it and theres probably a tax deductable formula somewhere. So when all is said and done, and taxes has been paid, we still have $57,136GDP per capita - which is 6th place in the world.
Then theres the free health care, school system, roads. Only thing that really sucks is the 180% registration and 25% VAT on new cars
, i personally would do a runner and never go back $6.2 million, i can move my whole family , there friends, my freinds and anyone else for that matter to the exotic isles for that kinda money and live like kings i tell you, dam fool kings!!! what do you reckon odds are he actually pays the tax??
