If you are one of the few lucky individuals who cashes in on a lottery ticket in Israel, you will be paying a bigger chunk to tax authorities. The income tax on Mifal HaPayis lottery winnings is increasing from 30% to 35% beginning on January 1, 2017. The current up to NIS 50,000 tax exemption in place where applicable will not be affected.
Back in 2013 income tax on lottery winnings stood at 25% to 30%. Prior to 2003, there was no tax on lottery winnings.
(YWN – Israel Desk, Jerusalem)
' } });
Join the official YWN WhatsApp status
