José Pedroso de Melo, Tax Counsel at TELLES, explains the differences in Euromillions prize taxation across Europe to Jornal i.
According to the tax lawyer, these discrepancies are due to the fact that, with the exception of VAT, most taxes are not harmonised at a European level, which allows each member state to define its own tax rules. In Portugal, prizes over €5,000 are subject to a 20 per cent stamp duty, which is considerably higher than in other member states.
José Pedroso de Melo emphasises that “taxes on games of chance are a clear example of different tax regimes between states”, and notes that this diversity also applies to taxes such as income tax. Nevertheless, he warns that limits are imposed in the context of the European internal market: “States cannot impose discriminatory taxation on their own citizens compared to citizens of other member states, as set out in the Treaty on European Union”.
Read the full article here (only available in Portuguese).
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