NEWS | SDC

January 11, 2016

RUSSIA: Online cash registers to curb shadow economy in 2017

The government of the Russian Federation submitted to the state Duma a bill providing for gradual transition of sales control and cash equipment (контрольно-кассовой техники – KKT), transmitting information about payments to the tax authorities in electronic form. The transition needs to happen within 2017.

Background: It is mandatory to use the cash register in the territory of the Russian Federation by all organizations and individual entrepreneurs at carrying out cash payments or payment cards established by Article 2 of the Federal Law of May 22, 2003 № 54-FZ.

December 27, 2015

Bangladesh: NBR enforce rules on cash registers to curb tax evasion

The National Board of Revenue plans to persuade all large and medium stores to install electronic cash registers (ECRs) in an effort to curb dodging of value-added tax on retail sales.

Along the way NBR is launching a spot survey activity on shops and other business establishments for the first time in a bid to bring eligible entities under value-added tax net and enhance revenue collection from the sector. The survey teams will also detect the shops eligible to install electronic cash register or point of sale machines for maintaining sales records accurately.

December 23, 2015

BELGIUM: CCRS and FDM pushed to 2017, many failed to comply with Rules

Although Belgium Government has justified their reasons for introduction of so called black box devices (fiscal data module) to prevent VAT cheaters who manipulate tax liability by adjusting or deleting their journal records, there is a resistance by business associations in Horeca sector who have triggered a request to delay security device implementation.

December 14, 2015

SARS: tax evasion through fraudulent VAT refund claims

An audit into 40 private companies throughout South Africa has revealed more than R80 million worth of tax fraud‚ the SA Revenue Service said on Thursday.

SARS Commissioner Tom Moyane on Thursday revealed a new strategy to combat non-compliance companies in “high-risk sectors”.

Moyane said that the “cash and carry industry” was identified as one of the high risk sectors SARS aimed to focus on.

“Over the last six months SARS’ risk processes have selected more than 40 companies operating in this space for audit. To date‚ full audits have been conducted on a number of these companies‚ and non-compliance to the value of R80 million discovered. They owe taxes ranging from R500 000 to R20 million‚” he said.

Moyane said that the money included withholding of VAT payments from cash sales‚ illegal repatriation of funds to global tax havens and fraudulent vat refund claims.

December 11, 2015

FRANCE: Certified POS in 2018

Merchants in France will use an anti-fraud retail system soon.

Pharmacies, restaurants, bakeries, florists, hairdressers, supermarkets … These professions are under the tax administration radar because they are part of the majority group that cheat on VAT. The reason is simple: their customers can pay in cash for their product/service. To fight against this tax authority in France will use new instrument. As of 1 January 2018, the VAT payers must use only secure and certified POS software and cash registers. This measure was adopted last month in the National Assembly within the framework of the first reading of the Finance law for the year 2016.