Deadline for collecting the prize

[Joywtseo421]

The Christmas special draw is on December 22nd and if luck is on your side you might win the “Gordo”, but what do you do if you win the lottery?

Pay taxes
There are tax consequences. Since 2013, prizes over 2,500 euros are taxed at 20%.

Those who win the Christmas raffle must share the prize not only with family and friends but also with the Treasury.

The Treasury will automatically/directly withhold 20% of the prize when the switzerland business email list winners receive it. The winners will receive the amount with the tax already deducted. They must record the prize in their income tax return as a special tax, but declaring the prize will have no impact on their personal income tax. However, all investments and income arising from the prize must be declared.


If the winning ticket has been purchased by two or more people, 20% will still have to be transferred to the Treasury since the withholding is required from the prize.

Lottery administrations grant a 3-month expiration period for collecting the winning ticket. If the winning ticket is not delivered within this period, it expires and the money goes to the public coffers.

What to do next?
Experts always say that the most important thing is to stay calm, as there are many cases of people who have won the lottery and ended up bankrupt. It is recommended to keep a cool head and not get carried away by impulsive purchases.

Also, the fewer people who know that you won the lottery, the better; remaining anonymous is always a good option.

One of the most typical phrases we hear when someone wins the lottery is that they will use the money to cover holes, that is, to pay off debts and normally the remaining money is invested in investment funds, deposits, pension plans, public debt, etc.