First receipt lottery to be organized next August

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The Finance Ministry has completed work on rules for the first receipt lottery in Latvia, which stipulate that the first lottery would be organized in August of 2019, the ministry told LETA April 10.

The receipt lottery is expected to help reduce the shadow economy in Latvia and increase tax revenue by €3 million.

The projection is based on the assumption that information acquired as a result of the receipt lottery will make it possible to identify tax evaders, unregistered cash registers and businesses.

According to the Finance Ministry's legislation, residents will be able to register their receipts for the lottery through a mobile application or some other digital solutions. The lottery will be organized by the State Revenue Service.

There will be weekly and monthly lotteries. The weekly lotteries will be organized once a week, and there will be ten cash prizes for the winners, each worth €200. The monthly lotteries' main prize will be €3,000.

The winners will be determined with the help of a random number generator. €200,000 will be allotted from the state budget for the development of an IT system necessary for organization of the lottery.

The Finance Ministry's bill will be now reviewed by other ministries and then by the government.

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