NEWS

Virtual cash registers are not new, as we have seen them replacing old tills from big retail chains in the USA when Apple iPads are introduced as ECRs. In fiscal country with traditional fiscal devices however, this is indeed revolutionary.

Article by: Radka Minarechová – Finances and Advisory

DOCTORS, dentists and hoteliers are exempt from having to use cash registers, but the Finance Ministry is proposing to scrap this exception in an effort to curb tax evasion. The proposal has met with protest from some business owners, who point to the increased costs that come with registers. To silence the criticism, the ministry has introduced virtual cash registers, which will be free of charge. Though some professions see this as a positive step, they also point to potential risks.

Little bit of Chilean e-invoicing and a whole lot of Brazilian SPED experience “Nota fiscal eletrônica”, gave birth to a fully online Croatian fiscalization system.
Finance Minister Boris Lalovac enjoys promoting the system, in his latest visit to American IRS…

By: TIMES REPORTER

At Quartier Mateus, Kigali’s premier trade centre, business is booming; the sellers are cashing-in and the buyers are taking their money’s worth but one party is being cut out of the deals – Rwanda Revenue Authority (RRA).

On Wednesday evening, a New Times journalist lurked around this busy area, poking his nose in several premises to see how people here do business and the findings were worrisome.

“My mind on money, money on my mind” seems to be the tune on everyone’s mind here; every deal must yield maximum profits…