Receipt lottery meets expectations, says IFP

THE NATIONAL Receipt Lottery launched last September has fulfilled expectations for now, Martin Filko, head of the Financial Policy Institute (IFP), told the press on May 12. Since the potential positive impact of the state-receipt lottery on annual value-added tax income is €7-8 million and with the expected annual spending on marketing and prizes at €2 million, the yield of the lottery is four-fold, he added.

THE NATIONAL Receipt Lottery launched last September has fulfilled expectations for now, Martin Filko, head of the Financial Policy Institute (IFP), told the press on May 12. Since the potential positive impact of the state-receipt lottery on annual value-added tax income is €7-8 million and with the expected annual spending on marketing and prizes at €2 million, the yield of the lottery is four-fold, he added.

Analysts with the Finance Ministry based their evaluation of the impacts of the lottery on VAT incomes on comparing the annual VAT yield between the third and fourth quarters of 2013, the periods shortly before and after the introduction of the lottery, the TASR newswire wrote.

“The improvement of VAT collection achieved this year therefore was, with big probability, the result of several measures, and it is not easy to quantify the impact of the lottery itself,” reads the IFP report, as quoted by the SITA newswire, adding that with more data they will probably be able to identify the impacts more precisely.

Filko however said that the lottery’s impact on VAT collection was rather a secondary priority. The first priority was to motivate the public to ask for VAT receipts and check them. Moreover, the lottery helped open a discussion over measures aimed at improving the effectiveness of tax collection, as reported by SITA.

Nearly 65 million VAT receipts from 450,000 people worth €780 million were registered for the lottery between its launch in September 2013 and the 15th drawing in April. More than seven million receipts – a record number - were registered with the very first round of the drawing. Since the beginning of 2014 the number of receipts in the lottery has stabilised to about three million.

Most of the registered receipts were issued by retail stores, especially big retail chains. The IFP is currently working on possible improvements that may also increase the number of receipts from smaller shops. Another way to boost people’s interest in the lottery may be the registration of invoices, and the IFP is also considering improving the analytical work it conducts with the data provided by the lottery, as reported by SITA.

Source: TASR, SITA

Compiled by Radka Minarechová from press reports

The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Top stories

Hand drawn art in GMB Photo

THERE are some obvious similarities between the life stories, and also main motif of works by two painters now exhibited in the Bratislava City Gallery (GMB), Lajos Szalay and Koloman Sokol. 

Koloman Sokol: Men from Tacuba

Eva Nová conquers Canada, Slovakia

THE FILM which won an award at the Toronto International Film Festival last autumn, Eva Nová, now comes to Slovak cinemas – and with English subtitles so that even non-Slovak speakers can enjoy it.

Movie: Eva Nová

ETP: State could learn from our work with Roma

WHILE some mayors struggle to improve life in segregated Roma settlements, the non-profit organization ETP Slovakia has helped hundreds of marginalized people construct their own houses. 

Slávka Mačáková, the director of ETP Slovakia

Health care and education harm Smer

THE RULING Smer may not continue in its one-party government after the March 5 general election, recent polls indicate.

Protests by teachers and nurses have hurt support for Smer.