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.
Tax reform always comes with a price tag. When this cost is transferred to traders, requiring them to update their bookkeeping software or purchase specialised equipment, it creates massive resistance. Subsidies or tax write-off for these expenses are not popular measure, as suppliers of certified machines require payment upfront. Traders in developing countries, who cannot afford long term planing, consider themselves victims of such reform and do not acknowledge that modernisation will bring them benefits.
There is a solution for that…
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Tax officers in Sweden, having almost 5 years experience in monitoring the use of Certified Cash Registers, have significantly improved their audit methods. It’s been noticed that half of the traders, operating in the area of inspection, were avoiding to issue certified receipts for cigarette sales despite hefty penalty fees. The case…
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