NEWS | SDC

May 14, 2024

Ethiopia fiscalization: Is it time for a restart?

Ethiopia wrote its fiscal law back in 2007, which was advanced at the time, and a year after that began the introduction of fiscal cash registers and fiscal printers. The basic component of these fiscal devices was an integrated and protected fiscal memory. Daily summaries were regularly sent to the tax administration’s server with the help of GPRS terminals.

The fiscalization process was successful and, therefore, attracted the attention of many authors who studied fiscalization and cited Ethiopia as a positive example in their works.

But for how long can a system (including fiscalization) stay effective?

March 20, 2024

Greece extends the use of POS terminals to all economic activities

Greece, a country in the southernmost part of Europe and counting with a population of just above 10 million inhabitants has now decided to extend the use of POS terminals to all economic activities.

Greece is one of the countries with the oldest fiscalization in the world. After several decades of existence, it was determined that the system was largely neglected and outdated. Many taxpayers have significantly reduced the issuance of fiscal invoices, and some have completely stopped doing so.

January 19, 2024

Bangladesh fiscalization: Has it finally accelerated fiscalization?

On December 6, 2023, the NBR (National Board Revenue) announced that the installation of EFD (Electronic Fiscal Device) is finally profitable. It is said that 18,000 EFDs have been installed so far and that 60,000 EFDs are expected to be installed in the current financial year.

“The businesses which used to pay Tk5,000-6,000 per month in Value Added Tax (VAT), now pay Tk50,000 monthly after installing EFD”, said NBR member Dr Moinul Khan. That’s almost 10 times more.

However, a long history of continuous failures, delays, weak response from the suppliers, and a way too long accreditation process prevented this country from achieving fiscalization earlier.

Want to know more about this story? Just keep on reading.

November 30, 2023

Verifactu expected to go “live” by July 2024

The Spanish tax agency Agencia Tributaria has announced a tentative future release date for their electronic invoicing system, Verifactu. All in all, the plan is to release the system in the summer of 2024.

The implementation of the project depends on the approval of the regulations for the invoicing system by the Spanish law authorities. The system is ready to launch.

The estimated release date is expected somewhere during July 2024. The IT department of Agencia Tributaria has published a technical draft of its working methodology.

February 25, 2023

Slovenia: Should the fiscal lottery be renewed?

Last year (2022) was economically more stronger for Slovenia compared to the year 2021, partly because the measures against covid weakened, especially in the service sector. That is why the Government was surprised by the information that the number of digitally signed invoices in 2022 is 8.9% lower than in the previous year. This is especially pronounced in construction and service industries (restaurants, hairdressers, flower sales, etc.). Although the number of taxpayers decreased by 1.6% compared to the previous year, as the main reason for it was assigned to the decision of the previous Government of the Republic of Slovenia in January 2021 to abolish the obligation of every customer to request and receive a fiscal invoice. In this sense, the idea of re-introducing the article in VAT law is being considered, by which the buyer who the inspection find did not take over the invoice is fined with a fine of EUR 40.