Quote:
Originally Posted by el_tribettador
Your article is from 2008, I don t knopw if is reliable.
Whatever I found something in france stating you have to pay taxes on earnings: http://www.guide-poker.net/
Here are the echelons appliable on taxable incomes from the france taxiation:
up to 9.690 € 0%
from 9.690 € up to 26.764 € 14%
from 26.764 € up to 71.754 € 30%
from 71.754 € up to 151.956 € 41%
over 151.956 € 45%
Hope I understood well... if not, can somebody please correct me?
Thnx!
Looks like you left a few things out, according to that article. First, your poker income is only taxable if you are a steady winner.
Second, if your poker income does not exceed 32.600 € for the year, you pay the progressive income tax rate only on 66% of that income as "non-commercial profits" (but you can't deduct expenses).
If your poker income exceeds the 32.600 € for the year, you pay the progressive income tax on all of it, but can deduct these expenses, if they are justifiably related to your play:
- Rent or owner expenses to local professionals. (maintenance, repair etc ...).
- Professional fees (lawyer, accountant, etc.).
- Operating expenses (telephone, electricity, internet, documentation, costs of small equipment).
- Meal and travel expenses.
- Rental costs (hotel, villa rental, etc.).
As bad as this seems, it's a lot better than the U.S. system of income taxation. Here, every dollar of winnings is considered taxable income, whether you are an amateur or a pro player, and whether or not you are a winning player. Not to mention the fact that online poker sites are illegal in most of the country.
