Open Side Menu Go to the Top

10-28-2019 , 08:39 AM
Hi Guys,
The WSOPE is running in Rozvadov and i wanna participate. My friend wants to stake me but we both dont know how to transfer the money if i win big. I.e. i win 200k and have to pay him 100k. I live in Germany and we have to pay taxes for moneygifts. I cant pay him as a ''gift''. How you guys handle a situation like that? Can i transfer 100k from Kings Casino to my friends account and the other half to mine?

Thx in advance.
Staking Quote
Staking
$25m Guaranteed WPM on CoinPoker
Join the action now
Daily Rewards • Splash Pots • CoinRaces
Staking
10-28-2019 , 08:49 AM
I'm not a lawyer but maybe getting something in writing explaining that it isn't a gift if you bink. alternatively just bink and worry about it then.
Staking Quote
10-28-2019 , 09:36 AM
if Germany and Czech Republic have a no double-taxation agreement (and I assume they do, most countries in EU have it with each other) then you only need to pay the taxes in Czech. Czech have very friendly taxes on poker, and I imagine that they could pay out both of you if said you have an agreement and then you could both pay (Czech) tax. I'd clear that with the casino beforehand, though.
Staking Quote
10-28-2019 , 09:44 AM
gl OP and OP's benefactor
Staking Quote
10-28-2019 , 02:18 PM
Pay out his money in cash, let him deposit via the casino, bank or whatever he prefers and let him pay his own taxes.
Staking Quote
10-29-2019 , 06:31 PM
If you cash for a significant amount you should each consult a tax professional.

I imagine regular income taxes would apply if Germany/Czech treat gambling winnings as income, and there are some nuances when money is earned in a different country.

It would be a good idea to document your agreement.
Staking Quote
Staking
$25m Guaranteed WPM on CoinPoker
Join the action now
Daily Rewards • Splash Pots • CoinRaces
Staking

      
m