Receipt Lottery and Cash Back Electronic Payments

17 november 2020

In 2021, important innovations are planned for both traders and individuals.

In fact, the government in its attempt to reduce the circulation of cash has provided 2 important

incentives to stimulate buyers to pay with electronic money instead of cash and to request the issuance of a receipt.

In this news we will see in detail what these two important innovations entail.

 

Receipt lottery

 

It was supposed to start in July 2020 but with the pandemic and the various economic and health problems that have upset the country, the start of the receipt lottery has been moved to January 2021.

 

For each electronic receipt issued to the tax office, the lottery system will generate a certain number of virtual tickets.

There will be monthly draws with 3 prizes per month of € 30,000 each and an annual draw with a prize of € 1,000,000.

 

Adults residing in Italy can participate in the lottery by simply requesting their "lottery code" on the portal of the revenue agency by combining it with their tax code.

 

Basically, at the time of purchase, the buyer will simply have to show the lottery code which will be a bar code saved on the phone or printed that the merchant will match with the receipt issued, as is already the case for example with pharmacies through the health card.

 

So if a person has made a purchase of € 100.00, the revenue agency will match that tax code with 100 lottery tickets for the various draws.

 

Registration is immediate and can be done on the portal www.lotteriadegliscontrini.gov.it

 

The prizes

The draws will be monthly and yearly and will take place every second Thursday of the month. The first draw is scheduled for 14/01/2021

Ordinary drawings include:

• A prize of € 1,000,000 for the winner of the annual draw.

• 3 prizes of € 30,000 for the winners of the monthly draws.

• 7 prizes of € 5,000 for the winners of the weekly draws.

 

There is also an additional reward for payments made with electronic money or credit card where both the buyer and the merchant will be rewarded in order to entice the merchant to accept payments by credit card for modest amounts.

 

In this case the prizes will be:

• A prize of € 5,000,000 for the citizen and € 1,000,000 for the operator;

• Each month: 10 prizes of € 100,000 for citizens and 10 prizes of € 20,000 for exhibitors;

• Weekly draws: 15 prizes of € 25,000 for citizens and 15 prizes of € 5,000 for exhibitors.

The winnings will be communicated to the winner by registered letter with return receipt or by certified e-mail and the winner will have 90 days to collect the winnings.

 

Cashback

The second maneuver envisaged by the government to encourage the use of credit cards and debit cards is the so-called Cash Back.

 

It consists of a bonus recognized to taxpayers for payments made with electronic cards.

 

In December there will be a real experimental phase in which 10% of the transactions will be reimbursed (with a total spending ceiling of € 1500). However, at least 10 credit card transactions will have to be made in December and the amount will be credited in February 2021.

 

How to participate

To participate, you must be of age and resident in Italy and be registered on the IO app of the Public Administration or on any other systems made available by operators affiliated with PagoPa to provide your tax code, the details of one or more cards and the iban since refunds will be made directly to the current account.

 

When we enter the "fully operational" phase, the reimbursement will amount to a maximum of € 300.00 per year for an expense, therefore, of at least € 3,000.00 per year in electronic stores, excluding e-commerce.

However, the transaction ceiling will be at least 50 per semester.

The reason for this choice is to avoid that payments made by credit card are only referable to large amounts. In this way, taxpayers will be pushed to ask for payment by credit card even for lower amounts.

 

Finally, supercashback is foreseen, that is a prize of € 3,000.00 which will be paid to 100,000 citizens who have carried out the largest number of transactions in a year

 

Lorenzo Rogai

Dottore Commercialista e Revisore Legale dei conti.

 

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