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Is there any tax deducted from the prize money?

April 26, 2017deducted money prize tax

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Is there any tax deducted from the prize money?

1 Answer

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Posted

If you win, we will transfer to you the entire prize amount received from the official lottery organization, after deducting local or federal tax if applicable. This is in addition to any bank transfer costs. If there is any legal reason to report the prize money or pay any other tax according to the laws of the country where you live or pay taxes, such reporting is your responsibility.