The Canada Revenue Agency (CRA) announced on September 30th 2014, that Jezz Shi-Cheng Huang, of Calgary, Alberta, pleaded guilty in Provincial Court to tax evasion and failing to remit goods and services tax (GST) for his company 1320530 Alberta Ltd, operating as Edgemont City Asian Cuisine. The court imposed a total fine of $89,753 for both the income tax and GST offences…
Read More›The BOE has seen a recent increase in the number of business owners using sales suppression or sales-hiding software to evade the payment of taxes due to the state.
Sales suppression software erases sales transactions which enables users to avoid paying income tax, sales tax, and other point of-sale (POS) fees collected on retail sales. Using such technology to deliberately falsify records for the purpose of evading taxes properly due is a crime and punishable by law.
Source: Tax information bulletin, Publication 388 as of September 2014 – www.boe.ca.gov
In the first half of 2014 a larger number of fiscal receipts is issued than the last year. This is due to the fiscalization, introduced in Croatia last year, bringing desirable surplus to the treasury, as much as 8 billion HRK (~1,3 billion USD) out of which 2.6 billion HRK is contributed by hospitality and as many as 5.2 billion HRK by retail traders.
In Hungary, as from September 1st all taxpayers must use fiscal cash register with remote audit capability. According to the Tax Office information 170.000 fiscal cash register has been already installed, and users can choose now between 146 licensed models to upgrade. In Hungary taxpayers are asked to install cash registers that are directly connected to the tax office. Hungary has observed first effects and some taxpayers are now declaring much higher amounts of value added tax (VAT ).
Hungary is introducing remote audit cash register after two-year preparation. Taxpayer, who from this day will not use the appropriate cash register and software, can expect up to one million forints (3.180 Euros) penalties, the tax office can also order the closure of their shops up to 12 working days. According to the Minister of Economy Mihaly Varga VAT in the retail sector in the first half of this year is increased by 106 billion forints (337 million Euros)…
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Ministry of Finance and Economic Development (MoFED) had mandate by July 2014 to amend the Gambling Regulatory Authority Act to specify the conditions to be applicable for the operation of specialised machines.
EFD ( Electronic Fiscal Device ) from the MRA, will be extended to cover all horse-racing bookmakers and football bookmaker.
MRA was testing on a pilot basis EFD with the horse-racing bookmakers to capture data on a real time basis. It is planned that the EFD will be extended to cover all horse-racing bookmakers and football bookmakers by June 2014.