What to do if I win the lottery in Spain?
Every day there are more tourists going around the world betting their luck and playing the lottery. We cannot imagine the amounts of money that the tourists lottery bet. The spanish solicitors tell us that more and more English people are seeking advice from a tax lawyer in Spain to guide them when collecting his award because they have been lucky to win.
As everything in life, it has a small text, which usually consumers rarely even notice to read it. So it is recommended to hire the services of a tax lawyer in Spain, to have all the necessary legal information. However it is important to note that the so-called tourists lottery, when they decide to gamble in a country, the first thing they do is hire a group of Spanish lawyers, to explain their taxes to cancel and the procedure to receive and take their money to their country.
The spanish solicitors say that in most countries, the lucky ones who win a lottery than an amount earn as about 2.500 Euros, must give accountable to hacienda, usually hacienda keeps the 20% of the award. This percentage is automatically retained by the organization of lotteries and gambling in the state.
In general rules this is knowledge of many players what some may not know is that from that hacienda keeps with the percentage given, the winner must worry about declaring the treasury the performance that generates this money, such as interest which pays the bank for having their money there, if you buy a property and decide to rent it, the income must be declared or if the prize is of a very high amount must be declared the estate tax.
So it is always recommended the intervention of a tax lawyer in Spain to make known the winner each of the taxes and procedures to be followed is always recommended.