What's the tax rate for lottery tickets?

Lottery winning income needs to pay personal income tax according to accidental income, the tax rate is 20%, and the personal income tax payable = winning income ×20%.

When an individual wins a lottery ticket, the winning income will be withheld and remitted by the payer or individual, that is, the winning income received by the individual is after-tax income. In practice, when individuals win a large amount of lottery tickets, they will generally choose to donate part, and the donation expenses that meet the requirements of public welfare donation can be deducted before tax.

According to the Individual Income Tax Law of People's Republic of China (PRC), if the amount donated by individuals to public welfare charities such as education, poverty alleviation and poverty alleviation does not exceed 30% of the taxable income declared by taxpayers, pre-tax deduction is allowed, and full pre-tax deduction is allowed for some public welfare charities specially stipulated by the State Council.

Feature classification

Traditional lottery is a passive lottery, and the issuing department prints the number (usually 5-7 digits), winning form, prize level and winning amount in advance. After the purchase, the lottery will have to wait for the public lottery results to know if they have won the prize. The prize level is generally determined according to how many digits or mantissas in the lottery number match the winning number.

Traditional lottery has a long history and has spread all over the world except the United States. Navidid in Spain is the largest traditional lottery in the world. Digital lottery is a game in which players choose three digits (000-999) or four digits (0000-9999) or five digits (00000-99999). Usually, the lottery is carried out every day, and the buyer chooses a combination of three, four or five digits.