In Greece, winnings from casinos and other gambling games are subject to taxation and must be declared in the player’s annual tax return. These winnings are considered as income from capital goods and are taxed according to their amount, in accordance with the relevant tax brackets. It is important that players keep detailed records of their winnings and losses, as accurate recording is required for the correct application of taxation and to avoid potential problems with the tax authority.
Casino profits tax return
How the taxation of online casinos is determined
The taxation of online casinos in Greece is determined by specific regulations and is graduated according to the amount of profit. Here are three main points that describe the taxation process:
01
Scales of Taxation
- 0€ to 100€: Net winnings up to 100€ per playing session are not taxed.
- 100,01€ to 500€: Profits within this range are taxed at 15%.
- Over 500,01€: Profits exceeding 500€ are taxed at 20%
02
Gaming Session
The tax is applied to each playing session, which is defined as a 24-hour period starting at 07:00 in the morning and ending at 06:59:59 the following day. Each session may end earlier if the player leaves or withdraws, in which case a new session starts.
03
Examples of tax calculation
For a profit of 1,000€, the first 100€ is tax-free. The next 400€ are taxed at 15%, i.e. 60€. The remaining 500€ are taxed at 20%, i.e. 100€. In total, the tax is 160€ and the player receives a net of 840€.
Definition of a Gaming Session
It is important to understand the term “gaming session” in order to fully understand the taxation of online casinos. According to Law 4787/2021, a gaming session is defined as follows:
“Playing session” means the period of time starting from the moment the player enters the player’s individual player card into a slot machine or from the moment the online gaming provider (online provider) connects to the central information system (CPS). By entering the player’s individual player card details, until, in any of the above circumstances, the player’s individual player card is removed from the slot machine or disconnected from the online gaming service provider (CPS). In either case, each playing session shall expire twenty-four (24) hours. From the time the player enters the individual player card into the slot machine or from the time the player logs into the online gaming service provider by entering the individual player card details”.
Simply put, according to the legislator, a play session is the winnings we as players will receive within 24 hours from the moment we log in to the live casino and start playing until the moment we log out.
Casino profits tax return
The taxation of casino winnings in Greece is a matter governed by clear rules and provisions. According to Greek legislation, casino winnings are taxed according to the amount of the winnings. The taxation is applied on a graduated basis and must be declared in the players’ tax return.
Table of tax Rates
| Profit category (EUR) | Rate of Taxation |
|---|---|
| up to 100 | 0% |
| 101 – 500 | 15% |
| 501 – 1.000 | 20% |
| 1.001 – 5.000 | 25% |
| 5.001 and above | 30% |
Profits up to €100 are tax-free, while profits of €101 and above are subject to tax, which increases on a sliding scale. The declaration of these profits in the tax return is mandatory to ensure compliance with Greek legislation.
A proper understanding of the winnings from betting tax return regulations is vital for all gambling players to ensure that they fully comply with the tax authorities and avoid potential problems.
Here is an example of how the tax is calculated:
- For profits of €1,200, the first €100 is tax-free.
- The next 400€ are taxed at 15%, i.e. 60€.
- The next 500€ are taxed at 20%, i.e. 100€.
- The remaining 200€ are taxed at 25%, i.e. 50€.
Total tax: €60 + €100 + €50 = €210.
The player must declare these winnings and pay the relevant tax through their tax return.
Tax return submission procedure
The tax return process for casino winnings in Greece requires players to follow certain steps to ensure that the tax authorities are informed about their winnings. This is important to avoid potential fines and to ensure that tax rules are followed.
01
Collection of evidence
Before submitting the declaration, players must collect all necessary documents proving their winnings and related betting costs. These may include receipts from the casinos, official reports and electronic records of their transactions.
02
Submission via TAXISnet
Players must declare their winnings through the TAXISnet online system, which is the official online tax return system in Greece. In this system, they must select the appropriate form for the capital gains declaration and fill in the required information.
03
Submitting a Tax Return
Once they have filled in all the necessary information and verified their data, players submit their tax return. It is important to do this within the deadlines set each year to avoid charges.
04
Payment of Tax
If the declaration is subject to tax, the player must proceed to pay the tax via the same system or by bank deposit. The amount of tax is calculated on the basis of the net winnings and the corresponding tax rate.
By following these steps, players can be sure that they are fully compliant with tax requirements and enjoy their winnings without legal complications.
Conclusion on the taxation of online casinos in Greece in 2024
The taxation of online casino winnings in Greece for 2024 is clearly defined by Greek legislation and is applied in a graduated manner depending on the amount of winnings. Players should be fully aware of their obligations and declare their winnings in their tax return, ensuring payment of the applicable taxes.
The graduated taxation ensures that small profits remain tax-free, while larger profits are subject to proportional taxation. This system allows for a fairer distribution of the tax burden between players according to their profits.
Overall, the taxation process is simple and transparent, allowing players to know their obligations in advance and avoid any legal complications. Proper understanding and compliance with the tax rules is essential to avoid problems and ensure an enjoyable gaming experience.
Players should consult the relevant sources and legislation to be fully informed and to ensure that their statements are accurate and comply with the applicable regulations.
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