"massive 28 percent tax"
The house always wins. Whatever the game, whatever the amount, the taxman is the only one to win 100% of the time.
India's GST Council seems to have declared war on online gaming – raising taxes on the endeavor to 28 percent, according to the country's Ministry of Finance on Wednesday. In a tweet, the Ministry shared a number of recommendations from the 50th meeting of the GST council, which included the anticipated decision on gaming. …
Not always. Donald Trump managed to lose money running casinos. Failure is always achievable for those with sufficient talent if they work hard enough at it.
Yes, it is difficult to tell incompetence from criminality in such cases, but the casino business is so highly regulated it seems it would be pretty difficult to cook the books and show losses when profits were in fact being made. This isn't like a restaurant owner siphoning cash from his business to dodge taxes where there are no financial regulators looking over his shoulder.
Though maybe New Jersey's casino laws weren't as tight as they should have been, given the mob influence when they first allowed casinos there. In the case of Trump the most likely scenario is probably a mix of incompetence and criminality. That's pretty much Trump's brand, after all.
India slaps massive 28 percent tax on online games of skill
A skill tax? Well it's possibly an innovative idea. I can't recall anyone trying it before. Perhaps we can apply it not just to gaming, but to everything. If it requires skill and is done properly, we'll tax it.
What's that? Won't raise much money except possibly in some professional sports? Hmmm .... Thinks a while .... You're probably right,