Finance Ministry wants to tax contests and sweepstakes

The Finance Ministry proposed designating contests and sweepstakes with prizes over €2,000 as gambling: their organizers must register, place a 5% deposit, and pay a 15% levy (tax). This would impact firms such as retailers or telecoms operators giving out cars, holidays, or smartphones to their customers. Under the new rules, youngsters below 18 years of age won’t be allowed to participate. The Ministry would not disclose the expected revenue. The new legislation would not impact winners; they would continue paying a 19% income tax and health levies on winnings over €350.

(SME/4)