Saturday, January 20, 2018

10 % Tax on Lotto, Play Whe winnings delayed

THE plan to impose a 10 per cent tax on National Lotteries Control Board (NLCB) winnings from December 1, has been delayed.

The Ministry of Finance has communicated the information to NLCB agents.

During the presented of the 2017-2018 Budget in October Finance Minister Colm Imbert announced the measure.

However, some NLCB agents complained there were no directives on how they should proceed with this new tax measure.

In a message dated December 1, agents were told: “NLCB prizes remain tax free until further notice, tell your players.”

An official from the Ministry of Finance confirmed this via email to the Express.

The message stated: “The NLCB has advised that the introduction of the 10 per cent tax on all cash winnings has not yet taken effect. The NLCB will notify when this measure becomes effective.”

No further explanation was given for the reason behind this decision.