Greece VAT receipt lottery to fight fraud
- Oct 17, 2017 | Richard Asquith
Greece is to become the latest country to launch a monthly lottery based on VAT compliant receipts in an order to reduce VAT fraud.
From the end of October, every VAT receipt will be stamped with a unique number which will be automatically entered into a cash-prize draw organised by the government. Each month, 1,000 winners will win €1,000 each – which will be exempted from income tax.
The scheme should encourage consumers to demand VAT receipts, produced by secure e-registers, provided by shops, restaurants etc. It will also deter the practice of negotiating discounts on VAT-evading cash payments. The lottery has been backed by Greece’s bail out partners, the ECB, EU and IMF.
Portugal, Poland, Slovakia and Malta have a similar VAT lotteries in operation.
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