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Economy

Treasury reminds Spaniards that Christmas draw prizes exceeding 20,000 euros pay taxes

Before spending without moderation in the case of being one of the winners in the Extraordinary Christmas Sweepstakes, which is held on Sunday in Spain, it should be borne in mind that above 20,000 euros, the Treasury takes a part of the prize.

 

 
Madrid / All the prizes organized by the State Lottery and State Betting Society (Selae), including the special Christmas raffle held on Sunday in Spain, exceeding 20,000 euros are subject to the payment of a special tax, as it recalls the Tax Agency on its website.

This tax is applied in the form of withholding, that is, that Selae herself will deduct from the prize – be it tenth, fraction or lottery ticket – the corresponding tax at the time of payment, so that the winners will not have to carry out any procedure additional.

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

324,000 euros for the winner of the first prize

For example, if you win the first prize, endowed with 400,000 euros, the first 20,000 euros are exempt and taxed for the remaining 380,000, so that the Treasury would be left with 76,000 euros and the winner, with 324,000 euros.

In the same way, for a second prize of 125,000 euros, 20% would be taxed on the non-exempt 105,000 euros: the Treasury would keep 21,000 euros and the winner would receive 104,000 euros.

Shared awards

The Tax Agency explains that when the prizes are shared with friends or family, the 20,000 euros exempt from taxation must be distributed proportionally to the participation of each.

Whoever is responsible for this task will appear as the sole beneficiary or collection manager and must be able to prove to the Tax Agency that the distribution has been made and to identify all the winners.

Since 2013, the State lottery prizes, autonomous communities, National Organization of the Spanish Blind (ONCE), Spanish Red Cross and European similar entities above the exempt minimum – from 2,500 euros until 2017, 10,000 euros in 2018, 20,000 euros in 2019 and 40,000 euros in 2020- are taxed with 20% of personal income tax.

The technicians of the Ministry of Finance (Gestha) calculate that the tax collection of the prizes of the draw will amount to 175 million euros, 13.6 million less than last year due to the rise in the exempt minimum.

Draws, raffles and ‘macrocestas’

Together with the Christmas Lottery itself, many companies or businesses carry out raffles and raffles linked to the winning number of the first prize, which are also subject to taxation, although not to the special tax of 20%.

The tax administration considers these awards a capital gain, so the taxpayer has to value it at market prices and incorporate it into the general IRPF base.

The same applies to the raffles of bicycles, cars or ‘macrocestas’ (big basket of prizes), considered capital gains, but not with the baskets that some companies give to their workers, since these are considered in kind remuneration and, therefore, should be valued at market prices and join the salary in the income statement. (December 20, 2019, EFE/Practica Español)

News related in video (December 2016):


Comprehension

Lee la noticia y responde a las preguntas (Read the news and answer the questions)

Congratulations - you have completed Lee la noticia y responde a las preguntas (Read the news and answer the questions). You scored %%SCORE%% out of %%TOTAL%%. Your performance has been rated as %%RATING%%
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Question 1
Principalmente, el texto habla de... (Mainly, the text talk about...)
A
todos los juegos de azar que están gravados con un 20%.
B
las rifas o macrocestas que también están sujetas a tributación en España.
C
la cantidad de dinero que recibirán los ganadores del Sorteo Extraordinario de Navidad.
Question 2
Según el texto, quien gane "el Gordo" de Navidad... (According to the text, who wins the first prize in the Christmas lottery...)
A
recibirá trescientos veinticuatro mil euros.
B
no tendrá que tributar nada a Hacienda.
C
solo recibiría poco más de setenta mil euros.
Question 3
En el texto se dice que... (It's said in the text that...)
A
Hacienda recaudará menos con los premios de este sorteo con motivo de la subida del mínimo exento.
B
las personas que compartan un décimo del primer premio de la Lotería de Navidad no tendrán que tributar nada.
C
si ganas justo 20.000 euros en la lotería, Hacienda también se quedaría con una parte.
Question 4
Según el texto... (According to the text...)
A
Hacienda desmiente que los premios de rifas y macrocestas sean considerados como una ganancia patrimonial.
B
los premios de loterías del Estado no son los únicos que están gravados con un 20%.
C
se desmiente que este año los ganadores del "Gordo" de la lotería de Navidad vayan a cobrar más dinero.
Question 5
En el vídeo se dice que...(It's said in the video that...)
A
el "Gordo" terminó ese año en 13.
B
ninguna administración de Madrid vendió un décimo del "Gordo".
C
el primer premio tocó íntegramente en Navarra.
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Vocabulary

Congratulations - you have completed . You scored %%SCORE%% out of %%TOTAL%%. Your performance has been rated as %%RATING%%
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Question 1
En el texto, la expresión "tirar la casa por la ventana" significa... (In the text, the expression "tirar la casa por la ventana" means...)
A
literalmente tirar los muebles por la ventana.
B
ser austero.
C
gastar mucho dinero de forma desmesurada.
Question 2
La expresión "de la misma manera" significa... (The expression "de la misma manera" means...)
A
"de ningún modo".
B
"por el contrario".
C
"del mismo modo".
Question 3
"Exento" es... ("Exento" is...)
A
"libre".
B
"sujeto".
C
"lleno".
Question 4
En el texto, 'gravamen' hace referencia... (In the texto, 'gravamen' refers to...)
A
a los impuestos.
B
a todo aquello que está libre de impuestos.
C
a una donación.
Question 5
En el texto "el Gordo" se refiere... (In the text, "el Gordo" refers to...)
A
al tercer premio del Sorteo Extraordinario de Navidad.
B
al primer premio del Sorteo Extraordinario de Navidad.
C
al segundo premio del Sorteo Extraordinario de Navidad.
Question 6
El artículo determinado para 'cupón' es: (The definite article for 'cupón' is:)
A
lo
B
la
C
el
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