Tax on Prizes from Small Town Lotteries

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Title Supreme Court: Tax on Prizes from Small Town Lotteries

Law: Bir Revenue Memorandum Circular No. 74-90

Decision Date: Aug 1, 1990

Prizes from small town lotteries are subject to a 20% final tax if exceeding P3,000, while those below this threshold are subject to income tax, as mandated by the Philippine Charity Sweepstakes Office and the Tax Code.

taxability

small town

lottery

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