First €10,000 of lottery winnings to be tax-exempt
Wednesday, May 16, 2018 @ 11:09 PM
THE first €10,000 of lottery winnings will be tax-exempt from this year, rising to €40,000 by the year 2020.
Opposition parties UPN, from Navarra, Ciudadanos, and the Basque National Party (PNV) have voted in favour of a move by the right-wing PP-led national government to raise the maximum exempt from tax from €2,500 to €10,000.
Until a few years ago, lottery winnings were not subject to tax at any amount, but the PP brought in a law which stipulated that the first 21% would be stopped on all winnings exceeding €2,500.
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