If you are trading in European countries, then it is likely that you will need to familiarise yourself with fiscalisation. This is the process of digitally signing and securely recording all transactions in order to meet each country’s specific tax regulations to prevent any tampering of records. Additionally, system events also have to be signed and recorded, including any cancellations or modifications. Every transaction is signed with a unique fiscal signature and every reprint must also be tracked and recorded securely.
The range of requirements across different countries, not to mention the complexity of the requirements, can make this a challenging process. At Eurostop, we offer fiscalisation services that will simplify the implementation and accreditation process for you. We cover both the fiscal printer and integrated models and can help to ensure that your transactions are compliant with the relevant country's regulations in which you trade.
Fiscalisation in the EU
The goal of fiscalisation is to prevent tax fraud, with strict rules for how your POS and retail processes should operate so that accurate tax data is reported to the relevant authorities. These requirements vary from country to country.
In countries like Poland, fiscalisation is implemented via hardware. In this situation, the device must save sales data on a memory card. The tax information is recorded at the time of sale so that it may be used by both tax authorities and Value Added Tax administrators.
Starting in 2018, merchants in France have been required to use certified and compliant point-of-sale systems that meet NF525 standards. These rules are designed to ensure retailers trading in France comply with all tax laws while also ensuring quick, secure and tamper-proof transactions that adhere to stringent requirements. It is also one of the few countries where a POS provider has to re-certify their software with an annual audit in order to comply with the ever changing fiscal regulations in that country. It is important to verify that your selected POS provider is registered with software which has been accredited with NF conformity.
The first country to implement fiscalisation was Italy in 1983. Italy requires that fiscal data be recorded and supplied automatically. It also necessitates the use of RT hardware or an RT server to communicate with the tax authorities.
In accordance with German regulations, POS units must allow businesses to provide digital and hard copies of receipts to consumers while also using a secure transaction procedure.
Through the real-time recording of transaction data, a Fiscal Journal (FJ) is updated, and the data can then be correctly exported. Receipts of every kind can be customised to show whatever information is required. Not only that but any cash receipt must also be validated in accordance with regulations.
Why is Fiscalisation a Challenge?
The modern retail environment is already complex and merged with fiscalisation, there are many additional regulatory requirements to consider which can impact your omnichannel retail system. They may involve your hardware, software and connectivity requirements. Remaining compliant can be a challenge with the range (which may also change over time) of regulatory requirements across Europe. This is where a trusted partner like Eurostop can help. We have extensive experience of assisting retailers to expand internationally, including complying with fiscal regulations. We can simplify the process of fiscalisation for retailers and you can also rest assured that we complete an annual audit from the tax authority in France.
Eurostop’s fiscalisation services are designed to make sure that your transactions remain compliant with all regulations.
Things to Consider During Implementation
There are several aspects of retail businesses that require consideration during implementation:
Different Payment Methods
Since fiscalisation is required for all transactions, retailers will need to take into account all the different types of payments they accept. This includes cash, credit/debit cards, and gift cards
There needs to be a secure connection between the POS system and the fiscal device. The data must be transmitted in real-time as it must be recorded and stored securely.
Furthermore, all fiscal data must be stored safely and securely. The data may need to be accessed at a later date, so it is important that it is well-protected.
Rules for Different Industries
As well as varying from country to country, the retail industry has its own set of fiscalisation rules, with different fiscalisation requirements for other industries such as hospitality, healthcare, and transportation. Retailers will need to ensure that they comply with the correct regulations.
Unified Commerce Solutions
Fiscalisation applies to multichannel sales with both online and offline sales being fiscalised. This means that businesses will need a unified commerce solution that can fiscalise transactions regardless of how they are made. Eurostop's POS is designed to do just that.