The amount to be taxed will depend on the total amount to be received. We tell you what are the different scenarios that you can face if you are successful.
Next December 22 is a day marked on the calendar of many of us, since it is when the classic Christmas Lottery draw is held. Sal Ildelfonso’s children begin to sing the numbers and, if we are very lucky, we may be lucky with a prize in some of the tenths that we have been buying in recent weeks.
It is worth keeping in mind that if this happens, we will not be the only lucky ones. The Treasury will also take its part, although it will depend on the total amount that we are going to receive for the prize. Below we tell you the different scenarios in which you will have to pay the tax body part of your financial reward.
From 40,000 euros
All the Christmas Lottery prizes that do not reach €40,000 They are exempt from taxation, so we will collect it in full once we carry out the corresponding procedures for this process.
From there, for every tenth prize awarded, the first €40,000 is exempt from taxes, from then on, 20% will go to the Treasury. In the case of El Gordo, who is endowed with 400,000 euros per tenthwe will receive a total of €328,000. If we are lucky enough to have been second prize winners, whose endowment is €125,000 For tenths, we will obtain a total of €108,000, the other €17,000 will go to the treasury.
Finally, in the event that we are €50,000 winners that correspond to the third prize, the Treasury will only tax €10,000, so the amount we will receive will be quite close to the real amount: €48,000.
The positive part of all this is that it is the banking entity that is in charge of making the corresponding withholding and issuing the relevant tax model. So we won’t have to worry about doing any other extra paperwork.
In the event that you have shared the tenth
One of the most common doubts when we talk about the taxation of the Christmas Lottery has to do with those tenths that have been awarded with a amount greater than €40,000 and which, furthermore, have been purchased by several people. A scenario that makes it difficult to make a simple calculation on how much taxes each of the participants must pay.
In the case of shared prizes, the first thing we must do is distribute 40% exempt among all beneficiaries based on the percentage of participation. Normally, these tenths are purchased in equal parts, so a division will be the easiest way to do the calculation. The person who distributes the prize must appear as the sole beneficiary and, in addition, must prove to the Public Administration that the prize has been distributed among all participants.
To do this, as is usual in all the procedures we carry out with the Treasury, it is important that all the information is clearly collected: identifying each winner with the necessary documentation and also informing about the percentage of participation they have, contributing the evidence that is necessary for this. All information must be signed and duly accredited by each person.
