Tax on lottery winnings

As the sole winner of the Aug. 31 lottery draw, her prize was NT$12.4 billion and she received NT$990 million after taxes, Huang said. She has already donated NT$40 million to charity and plans to send her children to study abroad, which was one her dreams, he said.

Thats a pretty heavy tax on winnings! Still a great day for her and her family (and the local real estate agent).

It’s 1.4 billion not 12.4

:grinning: I didn’t catch the typo in the article, nor did the editor.

That’s why in many countries you have the option, lump sum or yearly installments.