Latvijas Loto and Latvian State Revenue Service to launch a receipt lottery in 2019

Latvian mass media inform that a receipt lottery is planned to be launched in Latvia in 2019. The lottery will be organized by the State Revenue Service jointly with Latvijas Loto. There will be a weekly drawing with 10 cash prizes of € 200 each, and a monthly drawing of 3000 euros.

The lottery is planned for receipts of more than 5 euros excluding value-added tax (VAT). Latvians will need to register their receipts online, indicating the information about the location they got the receipt and the phone number to contact them in case of the winning. There are no age restrictions for this lottery.

The lottery will not be cheap for Latvia: the development of a special IT-system will require 200 thousand euros, and the prize fund and administrative expenses will cost 250 thousand euros in 2019 and 2020. But the authorities plan that they will receive more from this venture than they will spend to implement it.

State Revenue Service expect that the receipt lottery will help in the fight against shadow economy and result in additional 3 million euro of taxes. The Latvian Government instructed the Ministry of Finance to increase the forecast of VAT revenues in 2019-2020 by 2.95 million euros. Latvians will start to ask for checks and thus help the State Revenue Service to deal with unregistered cash flow, and thus, Latvia will improve fair trade and fair payment of taxes.

It is worth mentioning that a similar receipt lottery has been launched in Lithuania in 2017.


Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *