How much are the lottery winnings and raffle lotteries taxed?
From 1 January 2012, as a result of the Ministry of Economy's decree of 12 October 2011, the winnings to the lot above 500 euros are taxed using the withholding tax system at the rate of 6% . Taxation only applies to the part exceeding the expected limit. For example if you win a lottery prize of 600 euros the withholding tax will be calculated only on 100 euros and then the tax will be equal to 6 euros. As a result, the net amount received from the win will be 594 euros. The same taxation mechanism applies to games such as Win for life, Win for life gold, SiVinceTutto, Superenalotto, Scratch and Win, Enalotto, Superstar.
The amount that is thus retained by the concessionaire, as a substitute tax, must be paid immediately to the tax authorities. The withholding agent has the duty to pay the winner the premium net of the 6% tax payable on the portion exceeding 500 euros.
How much are the lottery winnings? Are the lottery winnings listed in the tax return?
No, the tax withholding tax system does not include the obligation to indicate in the 730 model or in the UNICO model .
Coming up with the tax reform on games: will it also hit the lottery winnings?
Recently the Government has enacted the decrees implementing the law to delegate the reform of the tax system . At the moment, the revision work has focused on issues such as sanctions and collection legislation. However, starting in September, the Renzi Government has undertaken to reform the taxation of prize games. The methods for revising taxation are not yet clear; certainly we expect an increase in rates. In the executive's purposes, the tax revenue deriving from the higher taxation of games will also be used to finance the activities of the organizing committee of the 2024 Rome Olympics.
