NEWS | SDC

June 19, 2024

Celebrating 70 years of VAT

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 10^th 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”.

May 24, 2024

Morocco fiscalization: Electronic invoicing is slowly finding its way in

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?

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 After several decades of existence, it was determined that the system was largely neglected and outdated.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.

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