Italy introduces VAT receipt lottery 2020
- Nov 26, 2019 | Richard Asquith
Italy is to follow Greece, Malta, Lithuania, Latvia, Slovakia and Portugal in introducing a VAT receipt lottery to help reduce undeclared VAT on sales to consumers.
From January 2020, electronic cash registers, Registratori telematici, are being mandated for retailers with an annual turnover above €400,000. These registers must be certified with the Agenzia delle Entrate, covering storage and transmission functions to report daily to the authorities on sales and VAT due.
The registers must produce special receipts with a unique code, Codice lotteria, which are then entered into a regular prize lottery for the winning receipt-holding consumer. The plan is that it will encourage consumers to insist on any transactions being properly recorded within the electronic cash registers and a receipt being offered.
Such schemes have proven very successful in other countries at reducing non-reporting of cash transaction.
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