Gambling Tax Hk

Gambling in Hong Kong The situation is very different in the two special administrative regions of Hong Kong and Macau, where gambling and betting are legal and regulated. Since 1977, people in Hong Kong are allowed to gamble for leisure at a limited number of authorized outlets under the Gambling Ordinance which limits excessive gambling.

1. Gambling Tax Document
2. Gambling Tax Deduction
3. Gambling Tax Us
4. Gambling Tax Hk 2019

Partner, Intellectual Property, Technology and Media, Hogan Lovells

1. Tax Situations on Winnings from Gambling Though most of Macau’s revenues come from payable taxes by casinos, the tax holdings on winnings for the gamblers are totally free. Now if you were a tourist in Vegas or not an American, you could be subjected to pay about 30% tax on winning and about 25% for Americans.
2. Macau's tax revenue from the gambling industry plunged by 56.5 percent year-on-year to 21 billion patacas (HK$20.34 billion) during the first five months this year, according to data from the Financial Service Bureau of Macau. This was only 42.09 percent of the initial budget for the period.

Eugene’s practice covers the full spectrum of contentious and advisory IP and TMT work. He also advises and speaks extensively on privacy, data protection, consumer protection and advertising – areas which are rapidly-changing. He features regularly in journals and seminars concerning intellectual property, data privacy, domain names and advertising laws. He is recognised as an outstanding practitioner by various publications including Chambers Asia Pacific and Managing Intellectual Property.

Gambling Tax Document

Associate, Hogan Lovells
Intellectual Property, Media and Technology
Hong Kong

Arthur has helped clients with brand protection and portfolio management, intellectual property litigation, and patent prosecution and infringement. Arthur also has experience with court proceedings against infringers, including obtaining urgent injunctive relief to assist with enforcement. He has advised and spoken on e-sports issues such as the regulatory treatment of 'loot boxes' in Hong Kong.

Gambling Tax Deduction

1.

What is betting duty? Are winners of cash prizes from lucky draws required to pay betting duty?

Gambling Tax Us

Betting duty is charged on the proceeds of lotteries and the net stake receipts from authorized betting on horse races and football matches conducted by a betting conductor , as well as on the contributions or subscriptions to authorized cash-sweeps. The Inland Revenue Department will not demand betting duty from winners of cash prizes from lucky draws, and will not issue bills or receipts on betting duty to them.

Gambling Tax Hk 2019

The public should stay alert of possible shams if they are notified of winning a cash prize and are asked to pay betting duty on the prizes.