GL is a limited partnership, and they serve as the money exchange for government lottery prizes same as other agency who is buying lottery prizes which need to follow the policy of government lottery office (but it isn’t Government agency). GL will charge the fee from persons who exchange the prize with money and need to know that these prizes are exempted income tax or not?
Panwa: The income tax exemption for the prizes according to Revenue Department section no. 42 (11) is for the personal taxpayer only, but, GL is a juristic person and hold the lottery prizes which is same as GL obtained the prizes, so, it isn’t exempt the income tax and GL will withheld the tax from these prizes money when it is exchanged from Government Lottery office at the rate 1% according to Revenue Code section no. 69 bis.
For more information, please feel free to contact us:
Phone: +66 2 933 9000
Fax: +66 2 933 6120
Email: bkk@panwa.co.th