Russia, online cash registers to be mandatory as from 2017
Jan 4, 2017 2:30 pm
The new law on cash register equipment will allow Russian tax authorities to track cash payments online
The law on transition to new cash register equipment, conveying online information about cash payments to the tax authorities, came into force on July, 2016, aiming to optimise state control and regulation in this field. It provides for gradual transition, obligatory from Feb. 2017, to the use of new cash register equipment up to July 1, 2018.
It basically changes technical requirements for the invoicing system, as well as penalty statute. In short, cash registers, which taxpayers have been using so far, were recording the totals of all receipts per day. When tax audit takes place, usually inspectors read these daily totals from the fiscal memory and compare them with the data recorded in the ledger. The new cash registers work following a different criteria. Just like cell phones they have a modem in their hardware, which is sending information about each and every receipt directly to the tax server, where it can be viewed by the tax inspector.
The obligatory transition to the such new cash register equipment in Russia is as from Feb. 2017; while for those registers already in use – from July 2017. There are also some exceptions: for those who have no right to use cash registers (service industries, owners of vending machines etc.) the transition to new regime is mandatory as from July 2018.
Source URL: http://eurasiatx.com/russia-online-cash-registers-mandatory-2017/
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