Greece sets lotto jackpot to promote e-transactions
From the end of October, taxpayers will automatically qualify to enter a raffle on the basis of the number of their electronic financial transactions, the finance ministry said. The lucky winner could win a cash – and tax-exempt – prize of 1,000 euros, it said.
Greece first proposed the VAT lottery system to the country’s European Union and the IMF lenders in 2014, hoping it would help prevent budget shortfalls.
Making it operational is now a term in its current bailout; the third since the crisis broke out in 2009, and is aimed at boosting the use of electronic payments in a country that has been dominated by cash.
Customers can often negotiate discounts on goods and services in Greece by agreeing to take them without a receipt – allowing shoppers, shops, and workers from plumbers to builders to avoid the country’s 24% VAT rate.
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