Regarding the personal income tax payable by the winner of the 92 billion VND lottery jackpot, the Vietnam Computerized Lottery Company stated that it always complies with legal regulations concerning the personal income tax of lottery winners and affirmed the following:
– Winners are not required to pay any fees other than the personal income tax deduction for winners as stipulated in Circular No. 111/2013/TT-BTC guiding the Law on Personal Income Tax and Decree 65/2013/NĐ-CP issued by the Minister of Finance.
– Winners will receive the full prize money in one lump sum after tax deductions, not in installments. Prizes will be paid to winners within a maximum of 05 working days from the date Vietlott receives the winner's claim request. In cases of disputes or complaints, the payment period will be extended until an official conclusion is reached by the competent state authority.
– Winners have the right to claim their prize in cash or via bank transfer.
– Formula for calculating personal income tax payable: Personal income tax payable = Total prize money exceeding 10 million VND from a winning ticket in a lottery draw x 10% (personal income tax rate)
Vietlott is responsible for issuing a personal income tax deduction receipt to lottery winners upon request.
According to Vietlott
