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.

One 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.

On January 18th 2017, Czech Finance Minister Andrej Babiš held a conference where he spoke about positive results of fiscalization in the Czech Republic. In the first month of system operation (December 2016), 43000 taxpayers issued over 118 million fiscal receipts. Those receipts are generated by the first group of taxpayers. Next group of 250,000 new taxpayers in retail sector is planned to rollout in March 2017.

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The world is entering a very turbulent period where economies are becoming dependent on proper fiscalization. Many countries in 2016 has started implementation processes related to changes of the existing or defining new fiscal laws and regulations, launching tenders for the procurement of necessary HW and SW for fiscal solutions and finally in some countries successful fiscalization has generated new revenues.

The upcoming year (2017) will remain very colorful, in terms of different views of what is the best fiscalization method. Many countries have already voted new legislations or are just now preparing for it. The goal is common, combatting the black economy, mostly in cash-based sectors. Following is a quick recap of events that are ongoing in some fiscal countries: