Withdraw money without paying taxes - Norway

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BigwinZ

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Recently I won a large amount of money on a online casino. The amount is over half a million NOK. 
 

The site I played at have a VIP-level system where I am at level 1. This means that I can withdraw max 5 000 NOK every 24 hours and 100 000 NOK every month. It will take about 114 transactions for me to completely empty the account. I asked the casino if there is any way that I can withdraw bigger amounts or faster, but they said no. Do I just have to accept that?

I understand that I have to pay taxes on the amount, but can I subtract the amount that I have lost on gambling throughout the year? The most ideal would be not to pay taxes at all.. How can I solve that? I have some demands;

I want to have easy access to the money online, with the opportunity to pay off bills and such along the way. It’s a big upside if I can get a VISA or Mastercard connected to the money so I can spend them in the everyday. I also have some private debt I wish to pay off. This is about 250 000 NOK, and I’m thinking to cash it out through monthly payments. How low do these payments have to be before the bank/government starts asking questions to the receiver? 
 

So far I have been recommended Revolut. It seems to cover all my needs, but I can’t find any information telling me if they have duty to report to the government. 
 

Can anyone help me? What is the most secure and “of the grid” way for me to deposit and spend this money?

 
I'm from Ireland and we don't pay taxes on gambling winnings here, and I don't know anything about the tax system in Norway, but I have worked in a tax related job in Ireland. 

I would immediately hire a good accountant, they will probably be able to save you far more than what you spend on them. 

There is likely a way they can reduce the amount of tax you have to pay, it is possible that you can offset some of your gambling losses against your taxes against your taxable amount, they will be able to review your income and expenses from every angle and advise you on the correct amount to pay. 

Some accountants will advise you on how to avoid tax completely and their duty is to you and not the government. They should keep all your questions confidential. 

This is a question for an accountant and not a gambling forum.

From what I know of European law, ALL transactions over 10k must be reported to the government by your financial institution (I know for a fact this is in revoluts terms and conditions), also combined transactions totalling 100k must also be reported. You will not get away with doing this through a European bank and especially without the help of an accountant. 

Also! Obviously put loss limits on the account of about 10 so you don't spend everything. 

 
Gambling isnt taxed in Norway. If you check f.eks Norsk tipping, it says all wins will be payed out in full with no taxes applying before or after you get the money.

Pretty sure its the same for other casinos, even tho they are in the grey area of legal here.

 
rowan said:
I'm from Ireland and we don't pay taxes on gambling winnings here, and I don't know anything about the tax system in Norway, but I have worked in a tax related job in Ireland. 

I would immediately hire a good accountant, they will probably be able to save you far more than what you spend on them. 

There is likely a way they can reduce the amount of tax you have to pay, it is possible that you can offset some of your gambling losses against your taxes against your taxable amount, they will be able to review your income and expenses from every angle and advise you on the correct amount to pay. 

Some accountants will advise you on how to avoid tax completely and their duty is to you and not the government. They should keep all your questions confidential. 

This is a question for an accountant and not a gambling forum.

From what I know of European law, ALL transactions over 10k must be reported to the government by your financial institution (I know for a fact this is in revoluts terms and conditions), also combined transactions totalling 100k must also be reported. You will not get away with doing this through a European bank and especially without the help of an accountant. 

Also! Obviously put loss limits on the account of about 10 so you don't spend everything. 
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You’re propably right, an accountant maybe is the best next step. Are some of them normally specialized in this matter, or do you think that “every accountant” have knowledge about this? 
 

i still think I could get some good tips from users in here though - I bet my last dime that there is a member or two in here that successfully have withdrawn from online casino without paying taxes.. 

As I understand the tax-regulations, I can only offset the loses directly connected to the prize I’m paying taxes for. For example, if I win pay 20 NOK per spin and win 100 NOK, I pay taxes for 80 NOK. I can’t subtract the money I have lost in earlier games.

Natb0412 said:
Gambling isnt taxed in Norway. If you check f.eks Norsk tipping, it says all wins will be payed out in full with no taxes applying before or after you get the money.

Pretty sure its the same for other casinos, even tho they are in the grey area of legal here.
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No, sorry. Prizes won at Norsk tipping is free of taxes, but if you win at foreign online casinos, you have to pay taxes for every prize above 10 000 NOK in Norway.

 
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