FinHackathon2: MyVAT#MyPrize has commenced

29th November 2019 Skopje - From today until Sunday, in the Ministry of Finance, in mutual organization with the Fund for Innovation and Technological Development, eight teams should respond to the challenge of FinHackathon2: MyVAT#MyPrize - to create innovative marketing strategy for #MyPrize.

As Minister of Finance Nina Angelovska said, presenting the challenge before the teams, the objective of #MyPrize is to stimulate, through innovative solutions, citizens to take their fiscal receipts, thus reducing the grey economy.

-Mobile Application MyVAt has been operational for five months, already yielding results. VAT collection has increased, there are 180,000 citizens actively scanning around 8 million fiscal receipts per month, or 230-250,000 fiscal receipts on daily basis. Under this prize game, we go step one forward, that being higher number of both users and scanned receipts - Angelovska said.

She underlined that the European Commission published the best examples of countries that have combatted grey economy through prize games, and that such practices has started since 1960 in Taiwan, where they organized lottery with receipts, after which VAT collection increased by 30%.

During the presentation, Angelovska said that the prize game will start in December, as well as that MYVAT mobile application will be slightly redesigned, which will include monthly, quarterly and daily reports on the scanned fiscal receipts. There will also be option for reporting irregularities, i.e. there will be button by which they can immediately report any irregularity in case the respective fiscal receipt is not issued.

Both Angelovska and the Director of FITD Jovan Despotovski said that FinHackathon was an excellent opportunity for young people to become known and to have their entrepreneurial spirit developed.

-I am pleased that our joint initiative with the Ministry of Finance as  for FinHackathon, mostly encouraged the students in the field of marketing, graphic design and related sciences. Out of total 8 teams that applied therefor, even five of them are from Brainster Academy, as well as from three marketing agencies, including three students in each of their teams. This is yet another stimulus to continue, along with the Government, to offer different solutions and projects. Thus, we show the young people and the business sector that we value their talent and we continuously strive for young people to share their creativity at home since they have a real chance to get a job - Despotovski said.

"FinHackathon2”: MyVAT#MyPrize is intended for marketing agencies and other domestic companies registered pursuant to the company law, which may offer innovative marketing strategy. For the purpose of supporting the youth population, the teams of the interested companies must also include undergraduate students in the field of the economy, law, organizational studies, design, public relations or related studies.

FinHackathon should come up with an innovative marketing strategy for the next 12 months, pertaining to branding, draft design, design, creativity, video concept, proposal for drawings and announcing the winners of the Prize Game "MyVAT#MyPrize". Budget for implementing the strategy of the winning team will amount to Denar 2 million.