New Tax Laws for Professional Gamblers in Belgium

The Belgian flag … a standard for French tax avoiders everywhere.The Belgian financial portal De Tijd reports that professional gamblers in Belgium will soon have to pay taxes over their gambling income. Up until now, gambling winnings were considered non-taxable in Belgium.

Professionals only

According to De Tijd, the new rules mainly apply to poker players as there is an increasing number of professional poker players living in the country and most other types of gamblers do so recreationally. In theory the new rules apply to all gamblers that devote a significant amount of their time and efforts to gambling though, and all these gamblers have to report their winnings as professional income.

Potential high tax rate

The new rules mean that professional gamblers in Belgium might find a big chunk of their winnings going towards the government. The most successful ones would qualify for the country’s highest tax rate of 75 percent. When looking at the bright side, however, one would only have to pay 75 percent tax after winning losses a considerable amount – and thus still plenty left- and accommodation and travel expenses can be deducted from their income.

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