Sean with Solarbet

  A recent lottery win in Singapore made a warehouse supervisor lose all his winnings within six months. Instead of using his winnings to improve his lifestyle, he went on a lavish holiday and bought cash gifts for his friends and family. The rest of his winnings went to pay off his HDB flat mortgage. Is this what tax collectors look for in lottery winners? Here's a look at some of the tax implications associated with lottery winnings in Singapore. Winning the lottery is an incredible experience. However, the question remains, do you have to pay tax on a lottery win in Singapore pools ? It is completely tax-free if you do not claim the winnings within six months. For those lucky enough to win the jackpot, the money is usually distributed in the form of a cheque to the winner. However, winnings of over $5,000 will have to be claimed in person and presented with valid identification. Moreover, any unclaimed prize money will be channeled to charity grants or donations. In addition to ...

  Who owns the casinos in Singapore? is a question that has become increasingly relevant as the country struggles to diversify its economy. With regional competition in a range of industries, Singapore has felt the need to expand its gambling industry to stay competitive. As Singapore's founding father, Lee Kuan Yew, 87, has championed the idea of casinos, it's important to understand who owns the casinos in the city-state. Las Vegas Sands has recently announced plans to invest $13 billion in the Singapore casino. The plan includes a fourth tower with an indoor arena seating 15000 people, a new hotel and an exhibition hall. The new property will be located adjacent to the Marina Bay Sands, which opened in 2010. The government has introduced new rules aimed at curbing problem gambling. These rules include a monthly gambling limit and automatic bans for some people. A recent report shows that nearly half of Singaporeans have been banned from gambling and over 1,000 have been excl...