How much tax i have to pay in singapore for lotory win?
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I am an expatriate. I recently brought a Singapore sweep lottery ticket while i was on holiday in Singapore. I have won the second prize. How do i claim my Money ? How many percent tax have i got pay ?
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Answer:
In Singapore, according to the IRAS (Inland Revenue Authority of Singapore)'s web page (http://www.iras.gov.sg/irasHome/page04.aspx?id=164), "Winnings from betting such as 4D, toto, football, Singapore sweep, horse racing, fruit machine (jackpot) winnings and etc. in Singapore, are not taxable as they are windfalls and not of income nature." It should be the same for both locals and foreigners, you may wish to double check with them though As for claiming your money.. look under the claiming prizes section in the Singapore Pools website, http://www.singaporepools.com.sg/en/html/usefulinfo.html
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