Inland Revenue to hold Value Added Tax lottery

Plans are in place for a Value Added Tax (VAT) lottery to be held here.{{more}}

At a press conference on Wednesday, Prime Minister and Minister of Finance Dr. Ralph Gonsalves indicated that a system will be put in place, where consumers would be encouraged to request and collect their VAT receipts; and have a chance to win various prizes, to be announced.

“I had announced sometime that we were going to do a lottery in relation to VAT.”

“The Inland Revenue Department has been in discussions with the National Lottery.”

“Because there are some own accounts people who provide a service; they don’t want to give you a VAT receipt. Demand your VAT receipt because the more of those receipts you have, the better your chances.”

“You go to certain stores; they don’t want to ring it up; they just tell you and you give them the money, and you run out (because) you hurry, you want to catch van; ask for your receipt so that we will see whether you, by putting pressure on people to give you your receipt, that your government will be able to collect your VAT.”

The Prime Minister said that he hoped that the initiative will be in place around the upcoming carnival season, and suggested that there may be other ways identified, to encourage the payment of the tax by business places.

“Because you pay the VAT you know; is only that you don’t get your receipt for it. But if a man doesn’t give you a receipt, it means the VAT stays in his or her pocket; so we have to find ways to encourage people to demand their receipt.(JJ)