The trick to prevent the Treasury from keeping part of the Children’s Lottery prize
With the new year inaugurated and just a few days until the first big draw of the year, Spaniards are preparing to try their luck again with the traditional draw on January 6, Three Kings’ Day in the Lotería del Niño. At stake 770 million euros in total and a jackpot of 200,000 euros for the tenth.
However, it must be remembered that those lucky enough to win the Gordo or one of the main prizes will not be able to enjoy the full amount, since the Treasury taxes all prizes above 40,000 euros at 20%. This way, The Child’s First Prize, worth 200,000 euros, must be accountable to the Treasury. Of course, the first 40,000 euros are exempt. The same happens with the second prize, worth 75,000 euros.
However, despite the impossibility of completely avoiding paying taxes, there is a legal method to prevent the Treasury from retaining part of the prize.
This is the trick so that the Treasury does not keep part of the Gordo del Niño or the Second Prize
The trick is to take out insurance for each tenth purchased, which costs around three euros. With it, if awarded, the The insurer will pay 20% of the premium paid to the Treasury.
The insurance must be contracted before the date of the draw and an insurance must be signed for each tenth. Likewise, during contracting it must be specified that, if awarded, the amount will be paid in full.
