Online game winnings attract withholding on net winnings upon withdrawal and year-end, with safeguards for in-kind prizes. Online game winnings are subject to tax deduction at source on net winnings in the user's account, at the rates in force. No monetary exemption threshold ... Summary
Online game winnings attract withholding on net winnings upon withdrawal and year-end, with safeguards for in-kind prizes.
Online game winnings are subject to tax deduction at source on net winnings in the user's account, at the rates in force. No monetary exemption threshold applies. Tax is deductible upon withdrawal of net winnings and at the end of the tax year on net winnings remaining in the account, with computation governed by Rule 135. Where winnings are wholly in kind, or partly in cash and kind with insufficient cash, tax payment must be ensured before the winnings are released.
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