According to the information released by Caixa, the largest prize paid was Mega da Virada 2017, when R$ 306,718,743.68 (US$56.87m) was drawn.
According to the law, the lottery prizes managed by Caixa expire 90 days after the draw. After the period, the person loses the right to the prize and the money is entirely allocated to Fies, the federal government's higher education financing fund.
Lottery collection in 2020
Caixa Lotteries raised R$ 7.4 billion (US$1.37bn) in the first half of 2020, which is 8.4% less compared to 2019. The first six months of last year totaled R$ 8.1 billion (US$1.5bn) in bets.
Caixa told DCI newspaper that the COVID-19 pandemic interfered with the regular performance of lotteries in all its sales channels, whether physical or electronic. However, the institution understands that considering the atypical situation that led, even, to the impossibility of functioning of several activities in some states of the federation, the reduction in collection during the period is a natural consequence.
Since 1962, Caixa has transferred part of the proceeds to the Federal Government with bets for legal beneficiaries. That is, the social transfer is the main activity of Caixa Lotteries. The amounts are redistributed for investment in the country in areas such as Health, Education, Security, Sports, among others.
The total collected from the games, including the percentage allocated to Income Tax, is passed on to investment in priority areas. In the first half of 2020, Caixa transferred R$ 4.3 million (US$797k).
How much is tax deducted from the Mega-Sena prizes?
The good news is that the bettor will take 100% of the announced amount, as lottery prize is already net of income tax. In other words, the “Lion” is hungry, but in Brazil the tax is deducted at source. The value of prizes received in cash, goods or services won in a lottery, contest, draws or horse race must be declared in the Income Form Subject to Exclusive / Definitive Taxation. Users don’t have to declare in Income Received from Legal Entities.
Source: GMB/ Jornal DCI
