FIRST LOTTERY OF CASH REGISTER RECEIPTS TO BE HELD IN ARMENIA IN 2009

ARKA
Dec 12, 2008

YEREVAN, December 12. /ARKA/. In 2009, a drawing of cash register
receipts issued to the population is to be held in Armenia for the
first time, Chairman of Armenia’s State revenues Committee Armen
Alaverdyan reported.

The lottery is to be introduced as from January 1 and to make Armenian
population interested in getting cash register receipts.

Alaverdyan reported that a total of about 45,000 cash registers are
installed in trade centers in Armenia, including 7,200 cash registers
in trade fairs.

"We can say that the problem is solved in terms of the quality, but
serious steps remain to be taken in terms of the quality so that cash
register receipts are provided to citizens," Alaverdyan said.

Traders are obliged to provide these receipts under the law, but
it is impossible to carry out an everyday monitoring of some 45,000
economic entities. This lottery is to encourage citizens to ask for
the receipts themselves, Alaverdyan said.

He pointed out that Armenian Government was taking the required
measures in the last two months to provide a proper legal framework
for the lottery (prevent receipt forgery, establish lottery-holding
procedure, and etc).

In his turn, Head of Tax Procedures Department Artur Manukyan said
that the drawing is to be held on the Public TV of Armenia every fifth
working day of each month20with receipts for the previous month to
be ruffled off.

Cash register receipts are to contain combinations of eight arbitrary
unique numbers and two-digit series with Armenian capital letters.

5mln Drams is to be paid off if the eight-digit number matches. If
seven digits match, 9 receipts are to be paid off 500,000 Drams for
each. If six digits match 90 receipts are to be paid off – 50,000
Drams each. If five digits match 900 receipts are to be paid off –
20,000 Drams each. If four digits match 9,000 receipts are to be paid
off – 5,000 Drams each.

Apart from this, bonuses are to be paid – 1% of the winnings for
every 1’000 Drams worth purchase.

Before the lottery is held, information on prize calculation will
be published in "Respublika Armeniyi" newspaper and the official
website of tax authorities at least three days in advance. Winners
should apply to the respective local treasury department of Armenian
Ministry of Finance not later than on the last working day of the
current month after the lottery is held.