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Taxes are not applicable to prizes exceeding 40,000 Euros

After the 2018 limits, the tax exemption for certain prizes of Christmas Lottery will not apply to prizes of the extraordinary draw.

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Taxes are not applicable to prizes exceeding 40,000 Euros

After the 2018 limits, the tax exemption for certain prizes of Christmas Lottery will not apply to prizes of the extraordinary draw.

The rule, which came into effect on July 5, 2018, provides that the exempt amount is 10,000 euros and 20,000 euros respectively for prizes derived in 2019. Prizes derived from games held in 2019 are exempted. Prizes held after January 1, 2020 are exempted.

The National Association of Provincial Associations of Lottery Administrators has warned that this year's crisis resulting from the covid-19 pandemic will cause the State to stop buying 1,200 million euros worth of Christmas Lottery Draw tickets.

The association has data that shows lotteries have "disappointing sales figures", with a 30% decrease in the sales of Christmas Lottery tickets from July to October compared to 2019.

Jesus Huerta (President of State Lotteries and Betting Society SELAE), lamented sales were suffering "quite a bit" and expressed concern.

"It's too early to give a number because it is between now and the 22nd that the moment of truth is," stated the president of SELAE in his speech. He also predicted "a bad year" in this respect.

The Extraordinary Draw of Christmas Lottery 2020 will award 2,408 million Euros in prizes on December 22, which is 28 million more than last year.

This year's draw issue is made up of 172 series each of 100,000 numbers. The total value of the issue is 3,440 million euros. 70% of this amount is distributed as prizes.

The Christmas Lottery's first prize of 400,000 Euros for the tenth is the most notable. The second prize will be 125,000 Euros for the tenth, and the third prize will be 50,000 Euros for the tenth.

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