See your take-home amount after withholding tax
Enter a lottery prize to see what you actually receive after Korean income tax and local income tax are withheld. For checking the real value of a first- or second-tier Lotto prize, or whether scratch-card and sports-betting winnings are taxed.
Lottery prizes are withheld as 'other income' under Korea's Income Tax Act. Up to 2,000,000 KRW is tax-free (the Article 84 minimum taxable threshold, raised from 50,000 KRW in January 2023); above that the whole prize is taxable at 20% up to 300,000,000 KRW and 30% on the portion above, plus local income tax at 10% of the income tax. Combined: 22% and 33%. The result shows income tax, local tax, total tax and net amount separately, along with the net amount as a share of the prize. For example, a 50,000,000 prize loses 10,000,000 income tax + 1,000,000 local tax = 11,000,000, leaving 39,000,000 (78.0%).
No, anything up to 2,000,000 KRW is exempt. Third-tier prizes (around 1,500,000) are usually exempt too, but a draw where they exceed 2,000,000 incurs 22%.
22% applies to the part of the prize up to 300 million KRW and 33% only to the part above it; the whole prize is never taxed at 33%. A 500 million KRW prize pays 300M × 22% + 200M × 33% = 132 million KRW.
Lottery prizes are taxed separately and the withholding is final, so no further filing is normally needed. Check with a tax professional for your situation.
Yes. Through 2022 only prizes of 50,000 KRW or less were tax-free; from January 2023 the threshold rose to 2,000,000 KRW. So a 4th-prize Lotto win (50,000 KRW) and most 3rd prizes are now tax-free.
Each monthly payment is withheld at 22%; a 7,000,000 monthly prize nets 5,460,000. This calculator is for lump sums and does not fit the annuity product.
The rates (22%, and 33% above 300,000,000) are the same. But only the stake on the winning ticket counts as an expense, not losing bets, so tax falls on something close to the whole payout, and the exemption rules differ by product, so this calculator gives only a rough figure.
That country withholds first, then a Korean resident reports it as other income and claims a foreign tax credit. Rules vary by country, so consult a tax adviser.
An approximation under Articles 129 (rates) and 84 (minimum taxable threshold, amended for 2023) of Korea's Income Tax Act, not tax advice. Rates and thresholds can be amended, and actual withholding is handled by the lottery operator.