Looks like even your chances for winning the lottery have just gotten a bit more expensive.
Lottery and other gaming tickets sold by the Philippine Charity Sweepstakes Office (PCSO) now cost 20 percent more due to higher taxes brought about by the TRAIN law that took effect early this year.
These are now subject to higher documentary stamp taxes (DST), which doubled under the TRAIN law (except for a few transactions). Lotto tickets that used to sell for P5 are now priced at P6. P10-tickets now sell for P12, while P20-tickets are now at P24.
Effectively, tickets for Ultra Lotto 6/58, Grand Lotto 6/55, Super Lotto 6/49, Mega Lotto 6/45, and Lotto 6/42 cost P24 instead of the usual P20. Tickets for the 6-Digit Game, 4-Digit Game, Suertres Lotto, EZ 2 Lotto, and the minimum amount for Keno are at P12. The minimum amount for mini sweepstakes have gone up to P6 from P5.
It doesn't stop there: aside from the increase in the prices of lottery tickets, winnings are also now subject to tax under TRAIN.
The price adjustments were implemented on July 8, 2018. We guess that these days, nothing really comes for free.
This story originally appeared on Entrepreneur.com.ph.
* Minor edits have been made by the Femalenetwork.com editors.
