In a surprise to many, the National Lotteries Control Board (NLCB) placed an Ad in today’s Newspaper advising customers that 10% Tax will be deducted on total winnings per ticket over $1,000 - starting from today, Monday 30th July 2018.
In September 2017, the Honourable Minister of Finance, Colm Imbert, announced the introduction of 10% Tax on Cash winnings from the National Lotteries Control Board. He explained that the Tax will be applicable on all games administered by the NLCB including Lotto Plus, Play Whe, Cash Pot, Pick 2, Pick 4 and any other game or set of games, methods or devices as organised and conducted by the NLCB. How will this work? Read four (4) facts below as outlined by the NLCB and let us know your thoughts in the comments. 1) What is the Tax on NLCB’s games? We are a small operation. If you've found our articles to be informative, please consider supporting us via PayPal or buying us a coffee. Your contribution is incredibly appreciated and goes a long way. Simply sharing our articles also helps us. Sign up for our free WhatsApp Alerts to be notified as soon as we post breaking news. NEW! Check out our Merchandise Store for high-quality t-shirts, hats and more!
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