What is fiscalisation and how could it affect you?

Written by Eurostop

Eurostop to implement certified Fiscalisation in Czech Republic.

Several countries in Europe, Africa and South America have adopted electronic fiscal devices (EFDs) in their quest to combat noncompliance, particularly as regards sales and the value-added tax (VAT) payable on sales.

Italy was the first country to publish fiscal legislation in 1983. Since then, other countries have introduced their own Authority for fiscal law.

A retailer looking to setup or expand to a fiscal country (for example Russia, Bulgaria, Serbia, Romania, Republic of Macedona, Albania, Poland, Moldova, Slovakia) must ensure that their retail equipment complies with certification standards that have been set by that country.

For example, fiscalisation on an approved Fiscal printer involves recording sales on a memory card on the device. The tax information is recorded at the time of sale for use by the tax authorities and in Value Added Tax administration.

Eurostop’s customers are now able to use Fiscal printers for several countries in Europe, with March seeing the addition of the Czech Republic to the list of certified countries. Eurostop will be rolling out with Trespass next month.

Are you considering or planning international expansion? Speak to a retail expert at Eurostop, who would be happy to advise on the process.

Eurostop

Editor at Eurostop Ltd

Eurostop Ltd provides omnichannel retail software and services to international retailers in the fashion, footwear and retail industries.

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