There are only a few hours left before one of the most anticipated moments of Christmas arrives in Spain. This Monday, December 22, the draw for Christmas Lotteryand millions of people are taking advantage of the last day to look for tenths with whom to try their luck.
It should be remembered that those lucky with the Gordo or one of the main prizes will not be able to enjoy the entire amount, because The Treasury taxes all prices above 40,000 euros at 20%. Thus, only the first, second or third prize, with a respective value of 400,000, 125,000 and 50,000 euros per tenth, will have to pay taxes. Thus, the Gordo will be reduced to 328,000 euros after payment of the corresponding taxes, the second to 108,000 euros and the third to 48,000 euros.
However, despite the impossibility of completely avoiding paying taxes, there is a legal method to prevent the Treasury from retaining part of the pricewhich can be applied to both the upcoming Christmas lottery and the children’s lottery.
The trick so that the Treasury does not keep part of the Gordo
The trick is to take out insurance for every tenth purchased, which costs around three euros. With this, if it is awarded, the insurer will pay 20% of the price paid to the Treasury.
Insurance must be taken out before the draw date and insurance must be taken out for every tenth. Likewise, when awarding the contract, it must be specified that in the event of an award, the amount will be paid in full.
However, this insurance does not completely exempt you from paying taxes, since Profits will be taxed in the income tax return. To do this, the Tax Agency indicates two options: to be taxed as movable capital or as capital gains at the general rate.
In the first case, rates fluctuate between 19% and 28% of the income tax levy, while in the second, the rates would depend on the income of the declarant, and could reach between 47% and 54%, according to the Tax Administration. Damn.
In this sense, if a person wins the jackpot and has the tenth insured, he You will end up receiving more money than if you didn’t have insurance, but not all of the 72,000 euros that the Treasury would keep in the event of non-insurance.
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