Mr Lee Posted May 19, 2011 Posted May 19, 2011 This sure seems like a rip off, and IMO the guy should have just left the money, and spent the money in the Philippines. If you won a large sum, would you go back to your home country, or live like a king here?MANILA, Philippines — Remember the super lucky balikbayan from New York City, United States, who won P741.17-million in the Nov. 29, 2010 Grand Lotto 6/55 draw, the largest online lottery jackpot in the Philippines?While his prize was tax-free in the Philippines, he lost P223 million in taxes to the United States government.A very reliable source who is a top-level executive in a government agency relayed the information to the Manila Bulletin on the ironic twist of events experienced by the 60-year-old Filipino, a civil engineer who works in the Big Apple as building estimator.Obviously, the source said, the balikbayan, who has been working for a long time in New York, is already a US citizen and green cardholder, thus he is covered by American tax laws.He really cannot escape paying taxes to the US if he is an American citizen.“Imagine, not a single centavo was deducted from his P741.17 million prize because lotto prizes in the country are pre-deducted with tax. So what the Philippine Charity Sweepstakes Office (PCSO) says is the lotto jackpot is exactly what every winner gets,” the source said.The complete story HERE Link to comment Share on other sites More sharing options...
intrepid Posted May 19, 2011 Posted May 19, 2011 Easy come,..easy go! :SugarwareZ-034:But still a good take.danny Link to comment Share on other sites More sharing options...
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