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Malta Chatter Thread Malta Chatter Thread

01-26-2013 , 10:35 PM
Quote:
Originally Posted by the4bettingmonk
looking at that thing on google maps its actually a really sick location- anyone know how many grinders live there now roughly?
Andreea told me that many poker players live here.

Quote:
Originally Posted by dsmallidge
The Meridien has squash. I'm pretty much a beginner, but I would be down to play. I've played a lot of tennis and racquetball, so I imagine I will pick it up fairly quickly.
OK good I'm a beginner as well , pmed my skype.
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01-27-2013 , 04:51 AM
Pender gardens its quite nutty location if u do not fancy seaview... quite a couple of grinders lived/living there...
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01-27-2013 , 06:17 AM
Are poker winnings in Malta considered as income arising in Malta?
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01-27-2013 , 09:30 PM
Quote:
Originally Posted by Vedast
Are poker winnings in Malta considered as income arising in Malta?
nope- the income is being earned wherever the servers are based, and to my knowledge very few are based in malta even tho there is customer support here etc.

initially i thought only capital gains fell under those tax breaks but now it seems it is indeed worldwide income- this applies for both temporary and permanent residents.
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01-28-2013 , 05:18 AM
Quote:
Originally Posted by the4bettingmonk
nope- the income is being earned wherever the servers are based, and to my knowledge very few are based in malta even tho there is customer support here etc.

initially i thought only capital gains fell under those tax breaks but now it seems it is indeed worldwide income- this applies for both temporary and permanent residents.
Is there any official link to confirm that? I think that income is considered to be earned where you are physically producing it.

For example, a non dom in Malta (foreign citizen, with a foreign domicile, but residing in Malta) that trades stocks for a living in a non Maltese stock market and using a non Maltese broker, would need to make those trades outside Malta so that income (or capital gains) is considered as earned abroad, and therefore only pay taxes on it if it's remitted to Malta (the same would apply to a non UK dom living in the UK). It seems to me that poker would have the same problem, and you either play abroad and leave it overseas, or you have to pay income tax (0-35%: http://www.mxpmalta.com/working-in-malta).
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01-28-2013 , 05:58 AM
People have spoke to accountants and lawyers etc and have got the answer 'We arent sure'
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01-28-2013 , 06:08 AM
Quote:
Originally Posted by Onitsuka
People have spoke to accountants and lawyers etc and have got the answer 'We arent sure'
I see, so in practice I suppose that poker players are just leaving the winnings overseas, considering them income earned abroad.
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01-28-2013 , 06:46 AM
Quote:
Originally Posted by Vedast
I see, so in practice I suppose that poker players are just leaving the winnings overseas, considering them income earned abroad.
some yes, some no
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01-28-2013 , 08:34 AM
Quote:
Originally Posted by Vedast
I see, so in practice I suppose that poker players are just leaving the winnings overseas, considering them income earned abroad.
If you are coming from the UK then I'd be keeping all my accounts with a UK address and using UK banks for cashing in/out.
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01-28-2013 , 08:55 AM
This is what the Maltese Inland Revenue Department has replied me about whether winnings for trading in the US stock market would be considered income or capital gains and arising inside or outside Malta:

"Dear Sir,



Your trading options in the United States stock market will be considered as trading income and not Capital Gains since the activity is being performed on a habitual basis. Due to the fact that this trading activity is being carried out in Malta, this income is considered as arising in Malta and will be charged in Malta whether remitted or not.



Kind regards,"

So I really doubt that they wouldn't consider poker winnings the same way.
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01-28-2013 , 10:44 AM
Got a few questions Malta related

- Do you have to pay tax for Pokerstars.com winnings?
- How much does rent cost for the year in a nice area located close to the sea for 2 people?
- How much does food and other expenses cost monthly?
- Is it really as nice a place to live in as people say?
- What are the best things about living in Malta?
- Is it warm in Malta?
- Got good lookin babes in Malta?

Last edited by 2012; 01-28-2013 at 10:56 AM.
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01-28-2013 , 03:01 PM
Read last 100 posts and all ur questions should be answered...
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01-28-2013 , 03:06 PM
I will be travelling feb 5 - march 21. I'd like to sublet my room for the whole or part of this period. The room is in a modern well furnished 3br penthouse in swieqi. 50 meters from the supermarket and 15 mins walk to paceville. You would be living with one more poker player and have an additional room as your private office. There's a desk, office chair and a monitor. Price is 550e for the whole period inlcuding water/eletricity/internet. pm me for more info!
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01-28-2013 , 08:23 PM
Quote:
Originally Posted by Vedast
This is what the Maltese Inland Revenue Department has replied me about whether winnings for trading in the US stock market would be considered income or capital gains and arising inside or outside Malta:

"Dear Sir,



Your trading options in the United States stock market will be considered as trading income and not Capital Gains since the activity is being performed on a habitual basis. Due to the fact that this trading activity is being carried out in Malta, this income is considered as arising in Malta and will be charged in Malta whether remitted or not.



Kind regards,"

So I really doubt that they wouldn't consider poker winnings the same way.
http://www.ird.gov.mt/v1/cases/bsc/1956/case/bsc34.asp

the maltese courts have previously decided gambling winnings are not taxable as was decided in the above case. The argument seems to be that since you can win or lose on any given day etc. It can`t really be regarded as a vocation.

edit- the person involved was fulltime player who had won money
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01-28-2013 , 08:38 PM
Quote:
Originally Posted by the4bettingmonk
http://www.ird.gov.mt/v1/cases/bsc/1956/case/bsc34.asp

the maltese courts have previously decided gambling winnings are not taxable as was decided in the above case. The argument seems to be that since you can win or lose on any given day etc. It can`t really be regarded as a vocation.

edit- the person involved was fulltime player who had won money
If that's true then there's no reason to stay in the UK...
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01-28-2013 , 08:49 PM
Quote:
Originally Posted by Vedast
If that's true then there's no reason to stay in the UK...
Well I`d have to check if the revenue has to gone to court over this since 1956 and what happened there :P Also decision can always be overruled with the judge himself basically admitting he wasn`t being too clear :/
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01-29-2013 , 12:55 PM
As long as you do not try to fool the system (or at least get caught) such as claim Social Security benefits, you will be fine. Online poker is a non-tax income. I've been working in online poker for the past 6 years (and yes, I live in Malta as its my country) and have plenty of friends who make a living grinding here. Ask for nothing and nothing will be asked of you!
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01-29-2013 , 05:09 PM
The tax situation in Malta for pokerplayers has been discussed a lot in this thread, also read my previous posts on this topic. Anybody who would like to do it 'by the book' contact Aldo Vassalo, he will look at your personal situation and give advice accordingly.
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01-29-2013 , 11:24 PM
Quote:
Originally Posted by the4bettingmonk
Have 2 rooms available in pretty sweet apartment at belmonte heights in sliema from march 1st- 300 euros rent a month, 300 deposit, no lease required, internet is all setup etc. A/C unit there and fully furnished. Will upload pics shortly, would prefer MTT/SNG players. Could be a good deal for some grinders as you won`t have to pay high season rates or have to commit to lease. Approx 6 weeks - 2 months notice would be required if you`re leaving if you`d like to retain deposit :P I`m a 22 yr old Irish mid to high stakes MTT grinder

http://*******/maps/8mqFm

http://www.belmonteheights.com/main.html

Send me a PM if you are interested in arranging a viewing/ reserving a place.

edit: one room available now from the 1st of Feb
Here are some pics- only available for brief period. If your interested in getting a 2 bed with me elsewhere let me know as I have a few in mind- need something from March 1st





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01-30-2013 , 02:12 AM
Not sure if this has been covered, I have read most of this thread but not all pages.

Did any of you guys need to obtain a residency permit and or a identification card, in order to rent a place. Or would this only be necessary if I was to live there permanently.

Also I have been looking into isp providers, is it true you have to pay a hefty deposit in order to get internet hooked up. I read somewhere if you get an id card you do not need to pay any deposit.
Thanks One-Time
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01-30-2013 , 02:39 AM
U need no id card when from eu

Paid no depo for internet ever, at least not a lifechanging amount...
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01-30-2013 , 02:45 AM
Quote:
Originally Posted by TimStone
U need no id card when from eu

Paid no depo for internet ever, at least not a lifechanging amount...
Thanks Tim, you are very helpful.
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01-30-2013 , 05:11 AM
You pay around €75 deposit for the router from melita.
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01-30-2013 , 10:47 AM
Blah blah blahhhhhhhhhhhh
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01-30-2013 , 12:39 PM
Quote:
Originally Posted by One-Time
Not sure if this has been covered, I have read most of this thread but not all pages.

Did any of you guys need to obtain a residency permit and or a identification card, in order to rent a place. Or would this only be necessary if I was to live there permanently.

Also I have been looking into isp providers, is it true you have to pay a hefty deposit in order to get internet hooked up. I read somewhere if you get an id card you do not need to pay any deposit.
Thanks One-Time
Today i paid 200€ as deposit with the installation of melita because i don't have a maltese ID card, they said they will give me back when I have one.
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