VAT news tagged as "Cash registers"

Ghana

Ghana VAT e-cash register

October 27th, 2017

Ghana has introduced mandatory ‘Fiscal Electronic Devices’ (FED) for the recording of secure VAT transactions.  These are similar to e-cash registers, which live report to tax authorities cash payments in the retail, restaurant and other services sectors.  The aim is to reduce the incidence of VAT avoidance by non or partial recording of cash payments. …


Poland

Polish live cash register requirements

September 27th, 2017

Poland is to introduce a new, centralised database to live record all cash based payments in shops, restaurants and similar outlets. This will include a new range of electronic point-of-sale registers which will be electronically linked to the database for instant reporting of transactions and VAT calculations. Data exchanged will include: price, VAT rate and …


Venezuela

Venezuela offers discounted VAT on card payments

December 25th, 2016

Venezuela is to offer a 2% VAT rate discount to consumers purchasing goods or services by electronic payments, including credit cards and wire transfers. The measure is an incentive to avoid unrecorded, cash-based payments and reduce VAT fraud. The current standard VAT rate in Venezuela is 12%. The 10% discounted rate will apply only to …