Warbirds Posted November 21, 2008 Share Posted November 21, 2008 From Bluff Europe: Peter Eastgate might have won $9.1 million but he might only be clearing $2.5m of that after it was revealed the Danish tax system with relieve the champion of around $6.5m. You'd think winning the World Series of Poker Main Event would be the stuff of dreams. The bracelet, the magazine covers and all of that lovely money. Wrong, amigo. As Peter Eastgate is finding out now, not all of that money finds its way into your bank account, with the Dane potentially losing $6.6m to the Danish taxman. That's gotta hurt. What makes it worse for Eastgate is the fact that Ivan Demidov will be clearing twice as much to his account despite coming second to the young Dane. The Russian government takes a flat 15% of any winnings, meaning Demidov will get to buy around $5.8 million worth of vodka, if he so desired. Even the man who came third will take home more money. Dennis Phillips cashed in third for $4.5 million, with 35% going in federal taxes to the US, leaving him with around $2.9 million. Eastgate had moved from Denmark to London in a bid to pick up the English tax benefits, although it is being claimed he will struggle to have that move succeed in light of his win in Las Vegas. Woooooow! :loon:loon:loon:loon Fred Quote Link to comment Share on other sites More sharing options...
BillHicks Posted November 21, 2008 Share Posted November 21, 2008 Re: Danish Taxman Actually Wins WSOP! how can anyone beat that rake? can he claim his buy ins as expenses when he does not cash? Quote Link to comment Share on other sites More sharing options...
Spooner Posted November 21, 2008 Share Posted November 21, 2008 Re: Danish Taxman Actually Wins WSOP! That's a disgrace. :\ Quote Link to comment Share on other sites More sharing options...
GaF Posted November 21, 2008 Share Posted November 21, 2008 Re: Danish Taxman Actually Wins WSOP! I'm amazed that the UK hasn't become a tax haven for poker pros - especially American online poker pro's.... Quote Link to comment Share on other sites More sharing options...
Fonzie14 Posted November 21, 2008 Share Posted November 21, 2008 Re: Danish Taxman Actually Wins WSOP! :puke Quote Link to comment Share on other sites More sharing options...
heniek31 Posted November 21, 2008 Share Posted November 21, 2008 Re: Danish Taxman Actually Wins WSOP! It is absolutely shocking :puke Glad he didnt come to PL for some staking. That would have been another 80%. Coat please. Quote Link to comment Share on other sites More sharing options...
Warbirds Posted November 21, 2008 Author Share Posted November 21, 2008 Re: Danish Taxman Actually Wins WSOP! It is absolutely shocking :puke Glad he didnt come to PL for some staking. That would have been another 80%. Coat please. :rollin:rollin:rollin my vote for post of the year Quote Link to comment Share on other sites More sharing options...
Mad Duke Posted November 21, 2008 Share Posted November 21, 2008 Re: Danish Taxman Actually Wins WSOP! How long before it changes here :unsure ps i havent heard out before we all get :puke Quote Link to comment Share on other sites More sharing options...
Galronix Posted November 21, 2008 Share Posted November 21, 2008 Re: Danish Taxman Actually Wins WSOP! Don't think we pay any tax on winnings just tax on the interest earnt. :unsure Quote Link to comment Share on other sites More sharing options...
ubermonkey1 Posted November 21, 2008 Share Posted November 21, 2008 Re: Danish Taxman Actually Wins WSOP! you only get taxed if your pro:okus muppets are all okay:tongue2 did see a thing recommending that all the final 9 should have set up a residence in a tax haven before the final table,bet he wishes he had now. Quote Link to comment Share on other sites More sharing options...
Marlin Posted November 21, 2008 Share Posted November 21, 2008 Re: Danish Taxman Actually Wins WSOP! I used to think that the off course betting tax in the UK was an obscenity, but those levels of taxation are seriously sick. Quote Link to comment Share on other sites More sharing options...
Woodie Posted November 23, 2008 Share Posted November 23, 2008 Re: Danish Taxman Actually Wins WSOP! I read on 2+2 that he moved to England couple months before so he keeps nearly all? Quote Link to comment Share on other sites More sharing options...
JulioArca Posted November 23, 2008 Share Posted November 23, 2008 Re: Danish Taxman Actually Wins WSOP! Vote labour at the next general election.....maintain the status quo. I wouldn't put it past Cameron to start taxing us muppets Quote Link to comment Share on other sites More sharing options...
gavham Posted November 23, 2008 Share Posted November 23, 2008 Re: Danish Taxman Actually Wins WSOP! He set up residence in London before the final table, so he will keep the lot. Quote Link to comment Share on other sites More sharing options...
Warbirds Posted November 23, 2008 Author Share Posted November 23, 2008 Re: Danish Taxman Actually Wins WSOP! Eastgate had moved from Denmark to London in a bid to pick up the English tax benefits, although it is being claimed he will struggle to have that move succeed in light of his win in Las Vegas. Hmmmm.... Quote Link to comment Share on other sites More sharing options...
BillHicks Posted November 23, 2008 Share Posted November 23, 2008 Re: Danish Taxman Actually Wins WSOP! Maybe he can get Pokerlitical Asylum here and avoid him and his winnings being sent back to Denmark. Quote Link to comment Share on other sites More sharing options...
GaF Posted November 24, 2008 Share Posted November 24, 2008 Re: Danish Taxman Actually Wins WSOP! I'm curious - is there any "hostility" towards Peter Eastgate for moving to the UK to try and avoid Danish Tax? There's been a lot of opposition to Lewis Hamiltons move to Switzerland to avoid UK tax - exactly the same surely? Quote Link to comment Share on other sites More sharing options...
ubermonkey1 Posted November 25, 2008 Share Posted November 25, 2008 Re: Danish Taxman Actually Wins WSOP! He set up residence in London before the final table' date=' so he will keep the lot.[/quote'] bit of luck he won then ,he'll need 9.1 mill to get a flat in london:loon Quote Link to comment Share on other sites More sharing options...
Spooner Posted November 25, 2008 Share Posted November 25, 2008 Re: Danish Taxman Actually Wins WSOP! bit of luck he won then ' date='he'll need 9.1 mill to get a flat in london:loon[/quote']:rollin Quote Link to comment Share on other sites More sharing options...
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