Lottery winners to be charged 2% stamp duty instead of 0.5%

 

 

Lottery winners will have to be charged 2 percent stamp duty on the amount of their winning prizes under Revenue Code amendments to be submitted to the cabinet in May by the Revenue Department.

 

Revenue Department director-general Prasong Poontaneat said that the legal affairs unit of the department was in the process of amending the Revenue Code to increase the stamp duty on lottery winners from 0.5% to 2% of the amount of the prizes in order to keep up with the increased amount of prizes.

 

He noted that the 0.5% stamp duty had been in use for up to 36 years since the amount of First Prize was set at one million baht while the amount of First Prize now has been increased to six million baht.

 

Full story: http://englishnews.thaipbs.or.th/lottery-winners-charged-2-stamp-duty-instead-0-5/

 

 

-- © Copyright Thai PBS 2018-04-22

4 minutes ago, rooster59 said:

in the process of amending the Revenue Code to increase the stamp duty on lottery winners from 0.5% to 2% of the amount of the prizes in order to keep up with the increased amount of prizes.

illogical (by western standards); a percentage is a percentage, a ratio; the amount of the prizes goes up, so does the percentaged amount

6 minutes ago, rooster59 said:

Lottery winners will have to be charged 2 percent stamp duty

government and taxes go together; trouble here in thailand is that we pay for a bad government

Must be another submarine purchase that needs funding.

7 minutes ago, YetAnother said:

illogical (by western standards); a percentage is a percentage, a ratio; the amount of the prizes goes up, so does the percentaged amount

Please don't confuse them with mathematical facts they are incapable of understanding. 

Prasong Poontaneat didn't get to be Director-General of the Revenue Department by being good at sums. 

I for one is wondering what to them so long to come up with

this money grabbing idea, but having said that, i'm sure many will

be happy to pay the tax as long a s they win, as 2% out 6 millions

is better than 0.5% out of nothing....

in simple terms..everything here is a pie  ,i'm a pie, your a pie,lottery winnings are a pie ...and thais want a piece of every pie..their piece of the lottery pie just got bigger..saddly..after 20 years in Thailand my pie is nothing more than an old crust...

underground lottery must be thinking they have literally won the lottery ...these people in charge are just dumb ...

This is nothing but a tax grab, bet those who run the local mafia lotto's are looking forward to increased profits.

 

Edit

555 Beat me too it terryp

 

Edited April 22, 20188 yr by edwinchester

I av to quit now that I am in front...I will not buy anymore as the 2% plus the thieving vendors charging 1 to 2%...

I love reflecting on old stories. Particularly ones that quote comments about or by PM Prayut. I came across a TVN story about lottery tickets back on 23rd may 2015. Here are a few excerpts which might draw a laugh or two.

1. "....10 special teams have been assigned to probe the problem of overpriced lottery tickets".

2. "....retailers who sell lottery tickets for more than Bt80 would face up to one month in prison and a fine of Bt10,000".

3. "....The team will interrogate lottery sellers to find out the source of the problem. We will take recourse to the Revenue Code, which is known to crack down on mafias,''

4. "....Prime Minister Prayut Chan-o-cha has also invoked Section 44 to solve what he believes to be one of the main reasons for the problem". 

5. "....Having the support of the country's leader to solve this problem is very important,''. 

6. "....The prime minister wants to solve this issue because he believes consumers are being taken advantage of. He always wants to take good care of all his subordinates". 

7. "....The office is also looking into the possibility of selling tickets online but it would wait to see the results after the June 16 draw, he said". 

 

Having been inspired by these gems of junta governance I will now try to find the old, old story about PM Prayut and the beach chairs.

 

Edited April 22, 20188 yr by Cadbury

5 hours ago, YetAnother said:

illogical (by western standards); a percentage is a percentage, a ratio; the amount of the prizes goes up, so does the percentaged amount

While I do agree 100% it must be noted that restaurant tips have gone from 10% - 15% - 18% - 20% plus. (in the USA)

Must be another submarine purchase that needs funding.

Actually it’s artillery that’s in the cue but you pinned the tail on the donkeys.

I wanted to buy 10 tickets with same number. Every ticket seller wanted 1300 baht instead of the 800 baht by law. Mafia.

 

21 minutes ago, Ulic said:

While I do agree 100% it must be noted that restaurant tips have gone from 10% - 15% - 18% - 20% plus. (in the USA)

 

please don't apply these sick and perverted US tipping standards to anywhere else on this planet

Running out of money? No more subs or trips to Hawaii for you!!

Of course 

The Thai Lottery is said to be the worst lottery to play of all, seems like this makes it worse than the worst...

I'd settle for buying tickets for 80b.  

If you collect from a certain lottery vendor in Phuket ..their take is 3%-4% depending on who you see...now with the increase I wonder if their fees will go up too

Edited April 22, 20188 yr by Lingba

Just now, Lingba said:

If you collect from a certain lottery vendor in Phuket ..their take is 3%-4% depending on who you see...now with the increase I wonder if their fees will go up as well

e

Just like most price increases here...it always seems to at least DOUBLE . And in this instance, a double would seem fair...compared to this 300% increase!  

 

Amusing Thailand 

 

4 hours ago, Ulic said:

While I do agree 100% it must be noted that restaurant tips have gone from 10% - 15% - 18% - 20% plus. (in the USA)

 

4 hours ago, THAILIBAN said:

 

please don't apply these sick and perverted US tipping standards to anywhere else on this planet

While tips are expected and "the norm" in the USA...still not mandatory. If service is substandard, can leave a reduced tip...or no tip at all. Thais expect tips now too, but certainly not mandatory. However, I would wager a tip that one stands much more a chance of "backlash" from a Thai server than an American server, for leaving no tip. 

21 minutes ago, Skeptic7 said:

 

While tips are expected and "the norm" in the USA...still not mandatory. If service is substandard, can leave a reduced tip...or no tip at all. Thais expect tips now too, but certainly not mandatory. However, I would wager a tip that one stands much more a chance of "backlash" from a Thai server than an American server, for leaving no tip. 

Tip..a great subject not many people are aware of..the acronym T.I.P...stands for To Insure Promptness...originally I believe at various Pubs across England in the 19th century.. some money was given to the waithelp BEFORE the meal ...To Insure Promptness..they received a TIP..for some unknown reason..over the years it got twisted into patrons being "expected" to give money after the meal with percentages applied...my guess is the restaurant owners were behind this as this now made it the patrons responsibility to supplement the majority of the  income of the waithelp as they only get paid minimum wage now knowing that they will receive tips to provide the rest...on a side note..it's actually a "gratuity" that is the term given to money given AFTER the service

14 hours ago, rooster59 said:

He noted that the 0.5% stamp duty had been in use for up to 36 years since the amount of First Prize was set at one million baht while the amount of First Prize now has been increased to six million baht.

Now I am well informed. Thanks! I will no longer raise my eyebrows when the shop owners just graduated for university daugther using the calculator for  counting 10 + 10. 

14 hours ago, rooster59 said:

Lottery winners to be charged 2% stamp duty instead of 0.5%

Again the "government" is out of touch with reality....

To cash in a win today...you have to pay the agent 3% per the 'service'...

 

Just as bad as overcharging for the tickets...In the last draw my wife won 100.000......Amount paid out 97.000

The bankrupt junta are nickel & diming everyone on everything. Pathetic really.

On 4/22/2018 at 7:08 AM, YetAnother said:

illogical (by western standards); a percentage is a percentage, a ratio; the amount of the prizes goes up, so does the percentaged amount

Percentage not same your Country Mister 

Will it make me win ??

10 years I have done the lottery here spending 1000 bht every 2 weeks . Not once have I even came close to winning.

Some of the worst odds with lowest prizes of any lottery in the world. !!

On 22/4/2561 at 12:13 PM, pieeyed said:

I wanted to buy 10 tickets with same number. Every ticket seller wanted 1300 baht instead of the 800 baht by law. Mafia.

 

 

I bought 6 tickets yesterday in Khampaeng Phet in 3 pairs. 100 baht each. She also had tickets on sale at 80 baht but they were only singles. One place was selling single tickets at 78 baht.