How much i have to pay if I win the Christmas lottery in Spain ?
Introduction: The most eagerly awaited draw of the year in Spain
We are here to talk about the most eagerly awaited draw of the year in Spain: the Christmas Lottery! This Christmas tradition full of excitement and emotion transports us to a world full of possibilities, where dreams come true.
Who hasn’t dreamed of winning one of those million-dollar prizes that the Christmas Lottery gives out? With just one lottery ticket in our hands, we can imagine a life full of happiness and opportunities. It is incredible how this lottery manages to unite the whole country in the same shared illusion.
The Christmas Lottery is not just a game, it is an integral part of our Christmas celebrations. Every year, millions of people take part in this event that brings with it the hope and excitement that is characteristic of this special time of year.
So get ready to live a unique experience full of excitement and joy. What would you do if you became one of the lucky winners of one of these millionaire prizes? Let your imagination run wild as you immerse yourself in the magical world of the most awaited draw of the year!
The story behind the Christmas Lottery in Spain
Get ready to discover the exciting story behind Spain’s Christmas Lottery! From its humble origins to becoming a popular tradition rooted in the hearts of all Spaniards, this lottery has captured the attention and mass participation of millions of people every year.
The origins date back to the 19th century, when it was created as a way to raise funds for hospitals and asylums. Since then, it has become an annual event eagerly awaited by people of all ages.
One of the reasons why the Christmas Lottery is so special is its mass participation – imagine millions of people buying tickets and eagerly awaiting the draw! It is a unique phenomenon that unites the whole nation in a festive spirit.
And over the years, there have been famous winners whose lives have been changed by this magical lottery. From inspiring stories to unexpected surprises, every year we are treated to new anecdotes about those lucky enough to hit the jackpot.
How much do I have to pay if I win the Christmas lottery?
This year the Christmas lottery draw is on Friday 22nd December. If you win the Christmas lottery and your prize is more than 2,000 euros you will have to pay it into your bank. If it is less than 2,000 euros you can collect it at your nearest lottery office.
Everyone pays the same. Fixed rate of 20%.
If in the next few days you buy a ticket for the National Lottery Christmas draw, don’t forget that prizes from Loterías y Apuestas del Estado, ONCE, Spanish Red Cross, regional draws and lotteries, etc., are taxed at a fixed rate of 20%.
Note. The recipients of these prizes, at the time of collection, are subject to a withholding of this percentage.
The first €40,000 are exempt
Exemption.
However, this taxation only applies to prizes whose full amount exceeds EUR 40,000 (and only for the excess over this amount). Up to 40,000 euros, the amount received is exempt.
Attention! This exemption is applied separately for each winning lottery ticket, fraction or lottery coupon or bet. Thus, in the case of shared prizes (among friends or relatives, clubs, sports clubs, etc.), the 40,000 euros exempted must be divided among all the beneficiaries in proportion to their participation.
Example.
In this way, if you and a relative play a Christmas Lottery ticket that wins 50,000 euros (a third prize), you will each be entitled to 25,000 euros, of which 20,000 will be exempt. In this case, their individual taxation will be EUR 1,000: (25,000 – 20,000) × 20%. The net amount received by each of them will therefore be EUR 24,000.
Lottery prizes are taxed for personal income tax purposes at a flat rate of 20%. However, the first 40,000 euros are exempt.
How the raffle works and how you can participate
When it comes to lotteries, one of the most famous in Spain is “El Gordo de Navidad”. In order to participate, you will need to purchase tickets or tickets. These can be purchased either at lottery administrations, online, or by paper tickets.
Once you have your ticket or tenths, you are ready for the big day of the draw. During the event, a very exciting prize distribution takes place. The total prize amount is divided into different categories and each has its own winning number.
If you are lucky enough to have a ticket or tenth with one of the winning numbers, congratulations! You could be one of the lucky ones to win a share of the grand prize.
