Taxes on poker winnings. Meu portuguese ruin, desculpa!

[WhiteMotumbo]

@tilo

i'm 100% sure that, with stocks, you can compensate a losing month on the upcoming months.. but you cannot adjust in the end of the year.

in your example, you started in january winning 10k, so you will have to pay 15% (in 30 days), which is 1.5k

february you lost 10k, so you don't pay.

march you won 10k, so now you don't pay since you lost 10k in february.

etc etc etc..

in december you lose 10k, so you won't pay and next year you'll have -10k to compensate for future winning months.

but the 1.5k that you paid for january profit is lost.. and you can't do anything about it.

[henriqueds32]

i was talking with a friend of mine these days about poker taxes and how to make legal taxes payments. the conclusion we had is that, IF you want to pay taxes, you can, annually, state in your Imposto de Renda, the full amount of your yearly winnings as "Outros Rendimentos" (other incomes), and pay the tax over the yearly profit.

[negozin]

I totally agree with the last post. This is the way, I've learned.
I will do the first one this year, due to an ITM on BSOP. I believe the previous post is the best answer for this topic. I played 2 Mtts. 1 itm and other ootm. I will present the one that I got itm and also received one paper from bsop to declare as "other incomes".

[benito007]

The taxation will depend on the type of income/source.

Foreign sourced income is subject to taxation on a monthly basis using the already mentioned carne leão. And no, you cannot offset winnings and losses in this case, as there is no provision allowing you to do so.

Therefore, is makes sense to realize the gain every 6 months or so to avoid excessive taxation.

Taxation of capital markets is totally different and there are specific provisions allowing the offset which is not the case of poker.

BTW I am a tax advisor in Brazil.

[WhiteMotumbo]

@benito007

alguns pontos ficaram claros nesse tópico.. tipo a questão da compensação mensal q ocorre com ações e no poker não é permitida.. blza

minha dúvida é a seguinte.. eu to crescendo minha banca e fazendo os moveups etc, não pretendo sacar nada esse ano.. ja que eu não vou gerar "disponibilidade" dessa renda.. ou em outros termos, não vou realizar o lucro.. posso considerar entao q não devo pagar nada ?

numa situação hipotetica q minha banca cresça bagarai a lá sphinter.. enquanto eu nao sacar essa grana, nao tenho q pagar nada

Sent from my SM-G900H using MaisEV mobile app

[cazj88]

Só declara quando saca

[benito007]

Só declara quando saca

[tilo]

The taxation will depend on the type of income/source.

Foreign sourced income is subject to taxation on a monthly basis using the already mentioned carne leão. And no, you cannot offset winnings and losses in this case, as there is no provision allowing you to do so.

Therefore, is makes sense to realize the gain every 6 months or so to avoid excessive taxation.

Taxation of capital markets is totally different and there are specific provisions allowing the offset which is not the case of poker.

BTW I am a tax advisor in Brazil.

Nice to hear this from a tax advisor on a pokerforum. It seems that i didn't had 'alot of misconceptions about our income tax' as Picinin told me.

One more question: As it is overseas income and the gains realized and then transferred to a bank outside of Brazil first (in my case), will it be necessary to have hand history and proof it came from a pokersite? Or is it because the gains are NOT transferred direct to a Brazilian bank not mandatory to have that kind of proof? I ask this because i play some small pokersites where there are no handhistorys available to download or send directly to computer by the site. And some sites work with independent cashiers where you can ONLY deposit and withdrawal from, so u deposit and cash out the money with a banktransfer or neteller transfer directly with on of the many independent cashiers. It might be an illegal site, not sure about that but it looks like it, dont have a clue i just play there and win. Would that create a problem if i dont have full proof to explain where it came from? Or wont the Brazilian tax authority come with questions anyway because the gains where send to a European bank and these banks already do these checks. I can for example let my winnings on a site where they dont have hand history or deposit/withdrawal history, to be transferred by the independent cashier to my pokerstars account, and then i just cash out from pokerstars and have it deposited into my european bankaccount. Then when i transfer the money to Brazil and i have paid tax over it and have declared my annually CBE (Capitais Brasileiros no Exterior), i wont be asked questions by Brazil? Is it only when its directly transferred to a Brazilian bankaccount that there will come questions about it for whitewashing doubts by banks as they want everything to be legal to dont get any problems?

Maybe you have anything to say about this case? Thanks