Alottery winning from a European country
2006-08-17 03:50:13 · 6 answers · asked by Jaytango 1 in Business & Finance ➔ Personal Finance
In Malaysia, only income earned is taxed unlike in other countries such as the United States or Britain.
Anything you get through inheritance, luck or chance is considered a windfall or capital gain and is not taxable.
While one might choose to declare cash or prizes won in a contest, those who dont do so are not committing a punishable offence.
Even if you do declare your prize, a conscientious tax officer at the Inland Revenue Board will tell you that it is not necessary.
2006-08-17 03:59:03 · answer #1 · answered by willie_wally 2 · 0⤊ 0⤋
I see you're interior the united kingdom (Union Flag on your avatar). Winnings on wagers are no longer taxable. The tax on the lottery is deducted from the stake at a cost of 5%. There was once an decision on bets in making a guess shops to the two pay a tax on the stake (final time it replaced into levied replaced into at 9%) or to bypass over the tax on the stake, and pay it from winnings as a replace. despite the fact that this replaced into abolished some years in the past in favour of a tax paid by utilising the bookmaker (effectively gathered from stakes). So there is on no account any tax deducted from winnings on lotteries, swimming pools, bingo, etc.
2016-12-17 12:27:49 · answer #2 · answered by ? 4 · 0⤊ 0⤋
This sounds like a common fraudulent email that circulates as spam. They ask that you pay taxes on a lottery that you won yet never entered. They usually ask for a money order, wire transfer, or even your bank account number so that they can draft the taxes.
This is all bogus. Protect yourself!
2006-08-17 04:37:19 · answer #3 · answered by Anonymous · 0⤊ 0⤋
did you win too ??? I won the nigerian , Ghana , and gold coast lottery all in one week and they asked me to send tax money . Yeah right - pure SCAM CITY AFRICAN RETARDS RUNNING GAMES.
2006-08-17 08:08:38 · answer #4 · answered by Anonymous · 0⤊ 0⤋
only if declare it i guess. but you never know, the LHDN are really good in getting this kind of information.
2006-08-17 23:02:28 · answer #5 · answered by dranagar 5 · 0⤊ 0⤋
Please tell me you have not been fooled by an advance fee lottery scheme.
You are being scammed.
2006-08-17 05:56:28 · answer #6 · answered by BoomChikkaBoom 6 · 0⤊ 0⤋