This December 22the children of San Idelfonso will sing the numbers in the Royal Theater while all the audience and people who are following the draw from home wait expectantly to hear ‘four million euros’. This year, they will be distributed 2,702 million euros in prizes.
The ‘big’ prizes of the Christmas Lottery are subject to certain considerations regarding taxation and what the Treasury takes. According to current legislation, Christmas Lottery prizes are not subject to withholding if their amount is less than 40,000 euros. For those that exceed this amount, the withholding will be 20% of each prize.
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First prize, ‘El Gordo’: 4,000,000 euros for the series and 400,000 euros for the tenth
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Second prize: 1,225,000 euros for the series and 125,000 for the tenth
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Third prize: 500,000 euros for the series and 50,000 for the tenth
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Fourth prizes (2): 200,000 euros for the series and 20,000 for the tenth
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Fifth prizes (8): 60,000 euros for the series and 6,000 for the tenth
What the Treasury takes with the prizes
In this way, you must keep in mind that if you get ‘El Gordo’, that is, 400,000 euros if you have a tenth, you will not pay taxes for the first 40,000. A 20% withholding will be applied to the remaining 360,000, so Tax authorities will keep 72,000 euros of the final prize and 328,000 will go directly to your account.
The same goes for the second prize. They cost 125,000 euros if you get a tenth. Of them, 40,000 are exempt. On the remaining 85,000, 20% is applied, so the Treasury takes 17,000 and 108,000 will be yours.
Finally, in the third prize, which is 50,000 euros, the Treasury will apply a 20% withholding on the 10,000 euros that exceed the limit. The Tax Agency will keep 2,000 and yours will be the remaining 48,000.
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First Prize, ‘El Gordo’: 72,000 euros for the Treasury and 328,000 for the bearer of the tenth.
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Second Prize: 17,000 euros for the Treasury and 108,000 for the bearer of the tenth.
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Third Prize: 2,000 euros for the Treasury and 48,000 for the bearer of the tenth.
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Rest of prizes: As they are less than 40,000 euros, the full amount will be deposited into your account and the Treasury will not take anything.
Regarding the rest of the prizes, since the amount is less than 40,000 euros, all of the money will go to the account of the lucky person who has purchased that number.
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