The Treasury will keep 32,000 euros from each first prize of the Niño lottery

The Tax Agency will keep 32,000 euros from every tenth winner of the first prize of the Children’s lottery draw which will be held on January 6 and with 7,000 euros for each second prize, as recalled this Friday by the association of technicians of the Ministry of Finance (Gestha).

All prizes organized by the State Lottery and Betting Society (Selae), including the special Christmas draw and the Child’s draw, that exceed 40,000 eurosare subject to the payment of a special tax, as recalled by the Tax Agency on its website.

This tax is applied in the form of withholding, that is, Selae itself will deduct the corresponding tax from the prize (whether tenth, fraction or lottery coupon) at the time of payment, so that the winners will not have to make no additional procedure.

In accordance with current regulations, all prizes less than 40,000 euros are exempt from the special lottery tax, while those exceeding that amount, in addition to identifying the winner, They will have to pay tax at a rate of 20% in the part that exceeds this figure.

Thus, each winner of the first prize of the El Niño draw, endowed with 200,000 euros per tenth, will receive 168,000 eurossince the remaining 32,000 euros will be kept by the Treasury to cover the special lottery tax.

In the same way, each tenth winner with the second prize, of 75,000 euros, will report 68,000 euros to its owner and 7,000 euros to the Public Treasury, while the 25,000 euros of the third prize will be in full for its bearer, since it is not subject to tax.

The Tax Agency explains that, when the prizes are shared with friends or family or when they are participations, the 40,000 euros are exempt from taxation. They have to be distributed proportionally to the participation of each one.

Whoever is in charge of this task will appear as the sole beneficiary or collection manager and must be able to provide proof to the Tax Agency. that the distribution has been made and to identify all the winners. Gestha technicians calculate that, if all the tenths of the first and second prize are sold, the Treasury will raise 21.45 million with this year’s El Niño draw.