Fiji Vat Monitoring System project goes live January 1st

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Fiji will soon join the growing number of countries that will start the fiscalization process, as of January 2018. Earlier in June this year, Regulation was officially published.

From January 1st 2018 all supermarkets and pharmacies will have to comply with the Regulation. Each sales point will be monitored by an EFD (Electronic Fiscal Device) that issues a digitally signed invoice and performs remote transfer to a dedicated tax administration server in Fiji. This invoice can be verified and stored on tax administration server in a digital form for an unlimited time.

The EFD under the Regulation must be accredited. Requirements for that are minimal and the time that developers have to fulfill in its adaptation is short, especially for the computerized POS developers. FRCS is inviting vendors to register and test their solutions with Tax Authority.

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CZ: Fiscal receipt lottery as incentive

20151016144114-sa2With the desire to increase the popularity of electronic fiscal receipts, citizen survey was conducted in May this year with goal to assess citizen’s affection for the introduction of fiscal lottery. Three-fifth of citizens considered introducing fiscal receipt lottery as positive measure. A majority of the public (55%) is interested in joining a lottery. Senior citizens are more likely to participate (60%). The willingness to participate in a receipt lottery does not differ between men and women or between different educational groups.

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Czech Republic: EET – online fiscal cash registers

 

ONline Czech model

 

Electronic record of sales (EET) in Czech Republic started with first group (hotels and restaurants) in December 2016 and continued with second group (retail and wholesale) in March 2017. Next two business groups will follow up from next year. According to the latest information by the end of August more than 2.5 billions receipts were issued from more than 155,000 taxpayers.

For more information about EET legislation visit our fiscal encyclopedia.

 

 

AUSTRALIA: Cash-only businesses beware

The Australian Tax Office announces its plan to protect honest businesses from tax evadors.

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Focus of the investigation is on those businesses who:

  • operate and advertise as ‘cash-only’
  • are part of an industry where cash payments are common
  • indicate unrealistic income relative to the assets and lifestyle of the business and owner
  • fail to register for GST or lodge activity statements or tax returns
  • under-report transactions and income according to third-party data
  • fail to pay employment duties
  • operate outside the normal small business benchmarks for their industry
  • were reported by the community as potential tax evasion.

This effort can support with evidence found that anti sales suppression system is necessary to be put in place in the near future.

Austria: RKVS more than a month in operation

dt.common.streams.StreamServer.clsOne month after Cash Register Ordinance Registrierkassensicherheitsverordnung (RKSV) commenced into force, some comments appeared to suggest that process at the beginning had more problems as it was probably expected. Start of the project was postponed, instead of starting the January 1 it started on April 1 since most users were not ready on January 1, they were given more time to prepare. First month of implementation resulted lower compliance from taxpayers than expected; there are those who still do not issue receipts, although they were obliged to do it even before the 1st of April. One of the leading software vendors in Austria (BMD) made an independent survey that included 239 taxpayers (from SME to corporates), and reveled that errors and malfunctions related to compliance with technical requirements were found in one-third. Almost 40% percent of the receipts were not correct. Percentage of defects is higher in the gastronomic sector than in the other industries.

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