BUSINESS IN SHORT

More than a million receipts in lottery

TWO DAYS after the Finance Ministry’s receipt lottery was launched, Slovak consumers had registered 1.16 million receipts. Finance Minister Peter Kažimír called it a “giant success”.

TWO DAYS after the Finance Ministry’s receipt lottery was launched, Slovak consumers had registered 1.16 million receipts. Finance Minister Peter Kažimír called it a “giant success”.

“The key thing is for people to be interested in checking the registration papers, to become our fellow controllers,” Kažimír said on September 18, as quoted by the SITA newswire.

Each sales receipt for a purchase of at least €1 issued after September 1 is eligible for winning thousands of euros. Customers only need to take the receipt from the merchant and enrol it with the Tipos lottery company, or via the internet or a short text message. The registration of receipts in the lottery started on September 16.

Most people have registered their receipts over the internet.

The aim is to encourage shoppers to ask for receipts, thereby forcing more retailers to issue official receipts on every sale and thus pay more VAT. The state estimates that VAT evasion via cash registers alone amounts to €150 million annually. In the past experts have estimated that Slovakia loses a total of €1.2 billion in VAT evasion and fraud annually.

The lottery will be overseen by Tipos. The first drawing will take place on September 30, and it will occur twice per month thereafter.

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