What is FISCALIZATION? Definition by JB Consulting
Fiscalization or fiscalisation is an internationally used term that describes in one word the progressive development of legal regulations for the use of electronic recording systems. This means that all transactions of a till must be completely recorded and stored securely. In this way, the data can be protected from manipulation and archived at the same time.
The basic principles of fiscalization are the seamless recording of all sales data, as well as their protected storage in order to prevent manipulation, fight grey economy, and reporting to the Tax Authority (TA).
In general, fiscal regulation covers topics such as:
✓ Fiscal device requirements
✓ Business processes
✓ Transaction data and receipt requirements
✓ Report types and reporting to the TA
Even though basic principles are the same in all fiscal countries every country has its own specific set of rules that must be fulfilled.
In addition to previously stated, in most cases, requirements and conditions that must be fulfilled are regulated by numerous different rules and regulations such as general Tax Code, Accounting Act, Consumer Protection Act, various technical regulations, etc.
The first country that introduced the concept of fiscalization that we know today was Italy back in 1983.
Currently, there are approximately fifty fiscal countries across the globe with increasing trends every year.
Fiscal country is a term used for a country which has adopted fiscalization as a mean to control taxpayers, usually in the retail and hospitality sectors.
ALBANIA
- Fiscalization in Albania: Full implementation is postponed until end of December 2021
- Fiscalization implementation schedule and penalties in Albania
- Fiscalisation model implementation in Albania is complete – all taxpayers are in scope
- Fiscalization in Albania
AUSTRIA
AZERBAIJAN
BANGLADESH
- Bangladesh Tax Agency Announces Mandatory Electronic VAT Payment
- NBR invites application from local vendors for EFD mgmt
- NBR ponders handing over EFD services to private sector
BELGIUM
- Fiscalization in Belgium
- Mandatory receipt in catering/hospitality business will disappear next year: “Digital receipt will become the norm”
BOSNIA AND HERZEGOVINA
- Proposal of new Law on Fiscalization in the Republic of Srpska is adopted by the National Assembly
- Fiscalization in Bosnia and Herzegovina
BULGARIA
COLOMBIA
CROATIA
CZECH REPUBLIC
- Delay of implementation EET electronic cash registers until 1 Jan. 2023
- Czech VAT cash registered suspended till 2023
- Fiscalization in the Czech Republic
EUROPE
- VAT electronic cash registers
- 2021 Year-in-Review – Subscribe to the review of JB Fiscal Consulting
- Fiscalization perspective of a difference between HoReCa and Retail?
EUROPEAN UNION
FRANCE
GERMANY
- Storage of invoices; Fulfillment of sales tax requirements for electronic or computerized cash register systems or cash registers
- Fiscalization in Germany
GREECE
- Fiscalization Essentials: Greece
- Fiscalization: Transfer of receipts to the myDATA platform, Interconnection of cash registers, etc. with AADE
- Can the QR code be omitted on receipts?
- Fiscalization in Greece
HUNGARY
ITALY
KENYA
- Kenya cracking down on VAT evasion with real-time monitoring
- Nowhere to run as KRA installs VAT system to nab tax cheats
- Kenya e-invoicing TIMS
LITHUANIA
PERU
POLAND
PORTUGAL
RUSSIA
SERBIA
- “ESIR time” in the new fiscalization in Serbia
- Announcement from Tax authorities in Serbia regarding picking up the requested secure elements
- Amendments to the Rulebook on Value Added Tax
- Rules concerning VAT invoices
- The Rulebook on Amendments to the Rulebook on Value Added Tax was published in Serbia
- eFiscalization Main Novelties in Serbia
- Changes regarding the return of goods procedure in stores and fiscalization
- New rules for receipt issuing systems at point of sale (fiscalization) in Serbia
SIERRA LEONE
SLOVAKIA
SLOVENIA
SPAIN
UKRAINE
VIETNAM
WORLD
- Global e-invoicing, SAF-T and pre-filled filings kill off VAT return?
- Global – Types of Fiscalization
- Transitioning from paper to electronic receipt
- What Is QR Code and Why It Should Be Included on Invoices and Sales Receipts?
- Countries requiring that a transaction between seller and buyer is issued in a verifiable manner with mandatory or optional use of QR code
- Different systems for receipt issuing systems at point of sale (fiscalization)
- Introduction to the rules for receipt issuing systems at point of sale (fiscalization)
ZIMBABWE