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Today’s Top Headlines

Italy Imposes Tax On Instant Lottery Winnings

by Ulrika Lomas,, Brussels

03 January 2012

Following their misfortune in suffering the heavier taxation imposed by the latest ‘Save Italy’ budget introduced by the new Monti government, Italian taxpayers have now found out that, arising from a measure within last August’s Berlusconi government budgetary package, they are also liable to be taxed if they have a little good luck in the future.

With the objective, as specified in the earlier budget, of raising some EUR1bn (USD1.3bn) in additional revenue, enabling decrees have recently been issued to impose a 6% tax in Italy on all winnings above EUR500 from the national instant lotteries (including, for example, scratch cards), with effect from January 1, 2012.

The tax will be immediately subtracted from the payment of winnings by the lottery operator. However, winnings from the ‘Lotteria Italia’ (the national lottery), poker, online casinos, bingo and slot machines remain outside of the tax net.

TAGS: individuals | tax | economics | business | gambling tax | budget | gambling | Italy

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