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Tuesday, 23.04.2024, 14:41
Latvia’s Saeima committee approves higher prize money amounts for receipt lottery
Originally
the bill stated that there would be ten weekly 200 euros prizes and one 3,000 euros
monthly prize.
The latest
version of the bill approved by the committee stipulates that there will be no
weekly prizes. Instead, there will be monthly prizes: one 10,000 euros prize,
three 5,000 euros prizes and fifty 100 euros prizes.
Furthermore,
the legislation now says that there will also be annual prizes: one 20,000 euros
prize, four 10,000 euros prizes and five 2,000 euros prizes.
Due to the
increased prize money amounts, the legislation's negative effect on the 2019
state budget is estimated at 211,493 euros, the Finance Ministry's deputy state
secretary Jana Salmina told the
committee.
The first
annual receipt lottery will be organized in 2020 for receipts issued from July
1 to December 31, 2019.
The receipt
lottery is projected to increase tax revenue by 3 mln euros annually as the
Revenue Service will have more information about tax evaders and unregistered
cash registers.
200,000 euros
has been allotted from this year's state budget for development of an IT system
necessary for organization of the receipt lottery. The funding for
administration of the lottery and payment of prizes is estimated at 250,000 euros
in 2019 and 2020 each.