Belgium has announced the modernization of its fiscalization system, which should start in the year 2025.
Do you want to know the key aspects of this new fiscalization system? What are the challenges Fiscalization 2 will need to face?
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This year marks the 70th anniversary of the VAT – the tax which represents the highest percentage in tax revenues for governments around the world. For some countries, it can be as high as 37% to 40% of the countries’ total yearly collection earnings.
However, this tax would never have existed if, on April 10th 1954, a man in France named Maurice Lauré did not have the vision to create a tax that would not tax the turnover but the added value produced by companies. This vision has clearly been a huge success, so much so that the VAT has even been widely referred to as the “fiscal Grail”.
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Morocco, a country with a population of next to 40 million inhabitants, is slowly but steadily adopting decisive fiscalization practices, expecting to fully embrace them by 2026.
Will they be able to overcome all obstacles and delays they have had since its conception?
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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?
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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 After several decades of existence, it was determined that the system was largely neglected and outdated.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.
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