Navigating Poker Taxes in Russia: What You Need to Know

The author won a significant amount of money in an online poker tournament and decided to withdraw 80% of it. The author transferred the money to an internet wallet and then to a bank card.

The author consulted with lawyers to understand the taxation of poker winnings in Russia. Russian tax law requires residents to pay a 13% tax on income from physical persons. There is no specific mention of poker in the tax code, but winnings are considered income.

If money is not transferred to a Russian bank account, tax authorities may have difficulty accessing it. Russian financial organizations are required to monitor suspicious transactions. Tax authorities can request information from banks about specific accounts.