The draw of Christmas Lottery 2024 is fast approaching and the Treasury is rubbing its hands at the avalanche of prices arriving on the morning of Sunday, December 22. It should be remembered that the Tax Agency takes a large part of the prizes won by the winners. Everything you need to know about the Christmas Lottery draw and the role of the Treasury.
This Sunday, December 22, the draw for Christmas Lottery which kicks off the most endearing time of the year. In the previous weeks, the big dreamers are already accumulating tenths and series with the aim of being one of the winners in the draw which, as has been the custom since 1962, will take place at the Teatro Real in Madrid , a place that will host one of the major events of the year.
The millions of Spaniards who play the Christmas Lottery still don’t know if they will win, but the one who clearly knows that they will benefit from the draw is the Tax agencywhich will take a large portion of the money that the winners will take. Like the draw of Christmas Lotterythat the Treasury takes part of the profits is also a tradition at Christmas time. All this is included in Law 16/2012 of December 27, which adopts various fiscal measures aimed at consolidating public finances and promoting economic activity, subject to tax, through a special tax, among others, on prizes paid corresponding to lotteries and. betting organized by the National Lottery and Betting Company (SELAE).
The Treasure and the Christmas Lottery
When it comes to talking about what the Treasury takes during the draw of the Christmas LotteryThe first thing to know is that the prizes awarded are subject to a special tax from the Tax Administration which applies in the form of withholding tax on prizes exceeding 40,000 euros. “Prizes whose total amount is equal to or less than 40,000 euros will be exempt. Prizes whose total amount exceeds 40,000 euros will only be imposed for the part thereof which exceeds said amount”, informs the Tax agency on its website while specifying that: “The basis for withholding at source of the special tax will be made up of the amount of the gain which exceeds the exempt amount. The percentage of withholding or deposit on the deposit will be 20 percent.
In this way, in the case of “El Gordo” of the Christmas Lottery, which distributes 400,000, it will be necessary to subtract 40,000 so that the Treasury takes 20% of 360,000. In other words, the Tax agency he keeps 78,000 euros and the winner with 328,000. Concerning the second prize, worth 125,000 euros, by doing this calculation, the winner would keep 108,000 euros while Tax authorities it would take 17,000. If you win the third prize, worth 50,000, only 2,000 euros will be taxed, or 20% of the mandatory tax of 10,000 euros. In the rest of the awards, the Tax agency This doesn’t fit since it’s less than 40,000 euros.
The Treasury also makes a separate provision for tenths shared by several people. “In the case of shared prizes (group of friends or parents, clubs, brotherhoods, etc.), in which the prize is distributed among all participants, the €40,000 exempt must be distributed among all beneficiaries in proportion to their percentage of participation, and the person who distributes the prize and who appears as the sole beneficiary (or as responsible for collection) having declared it at the time of collecting the prize, must be able to prove to the ‘Tax Administration that The prize was distributed to participation holders, which is why the identification of each winner as well as their participation percentage is necessary,” it specifies on its official website.
The main prizes distributed in the Christmas Lottery
- El Gordo: 4,000,000 euros (per series) – 400,000 for the tenth.
- Second prize: 1,250,000 euros (per series) – 125,000 for the tenth.
- Third prize: 500,000 euros (per series) – 50,000 for the tenth.
- Fourth prize (two) – 200,000 euros (per series) – 20,000 for the tenth.
- Fifth prizes (eight) – 60,000 euros (per series) – 6,000 for the tenth.
- Five-digit stones (1,794) – 1,000 euros (per set) – 100 per tenth.
