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Sports Betting Online sports betting question

Discussion in 'Sports Betting Forum | Sportsbook Forum' started by mrstarck, Apr 5, 2023.

  1. mrstarck

    mrstarck New Member

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    Argentina
    Maybe someone can help answer a question I was asked about the applicable tax rate for earnings made from online sports betting in Serbia. These are for sports gambling sites like bet365 and a personal bank account.

    Feel free to let me know if more details were required to properly answer this question and thanks for your time.
     
    mrstarck, Apr 5, 2023
    #1
  2. mrstarck

    mrstarck New Member

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    no response to this
     
    mrstarck, Apr 5, 2023
    #2
  3. mrstarck

    mrstarck New Member

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    no response
     
    mrstarck, Apr 6, 2023
    #3
  4. Keira Cross

    Keira Cross New Member

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    is it still active? Because I have couple of friends in Serbia, can ask them
     
    Keira Cross, May 9, 2023
    #4
  5. Gullywin

    Gullywin Member

    Joined:
    Feb 25, 2023
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    Location:
    India
    Sure, I can help you with that.

    The applicable tax rate for earnings made from online sports betting in Serbia is 15%. This tax is applied to the gross winnings, meaning the total amount of money you win after deducting your losses.

    For example, if you bet €100 and win €150, your taxable income would be €50. You would then pay 15% of that amount in taxes, or €7.50.

    The tax is due when you file your annual income tax return. You can claim any losses you incurred during the year as a deduction against your winnings. This will reduce the amount of tax you owe.

    If you are a resident of Serbia, you are required to pay taxes on all of your income, including income from online sports betting. However, if you are a non-resident of Serbia, you are only required to pay taxes on your income if you are physically present in Serbia for more than 183 days in a calendar year.

    If you have any further questions, please do not hesitate to ask.

    Here are some additional details that may be helpful:

    • The tax rate for online sports betting in Serbia is higher than the tax rate for other forms of gambling, such as casino games. This is because the government believes that online sports betting is more addictive and that it can lead to more financial problems for people.
    • The tax on online sports betting is collected by the Serbian Ministry of Finance. You can find more information about the tax on the Ministry's website.
    • If you are not sure whether you are required to pay taxes on your online sports betting winnings, you should consult with a tax advisor.
     
    Gullywin, May 24, 2023
    #5

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