The use of Fiscalised Tax Registers and Fiscal Memory Devices was launched by The Minister of Finance, Hon. Tendai Biti at the Rainbow Towers.  The launch was attended by various stakeholders who included the Minister of Information and Communication Technology Hon. Nelson Chamisa, officials from the Ministry of Finance, Members of the Retail Association of Zimbabwe, Senior Government officials and various other stakeholders.

 Minister Biti urged private businesses to embrace fiscalisation and the public to support the Government’s efforts by ensuring that they receive fiscalised receipts whenever they make purchases. These will be effective as from the 1st of October 2010.

An Electronic Tax Register (ETR) or printer is a device approved by the Government to record and issue fiscal data of goods and services sold. It is fitted with a memory that is placed in a permanent non-transparent substance (mass) that enables the permanent single recording of data by the program for the register operations. Its use should negate the possibility of erasing its fiscal data, and enable convenient access to this data.

Each ETR is identified by a single unique number assigned by the Government. ETRs record sales at the point of sale thus they are best placed to record VAT payable after every period. Every businessman is therefore an informal revenue collector for the Government, who is not paid and in fact, the penalties for late submission of returns are dire. A number of countries in this region and beyond are already using this system.

Mr Tichawona G Chiradza, ZIMRA’s Acting Commissioner General was quoted at the launch saying he believes the selected service providers are putting in place effective training programmes for both the business and ZIMRA personnel, to ensure successful implementation of this project. He called for unity of purpose in this regard.

Fiscalised registers are set to improve collection of Value Added Tax by the Zimbabwe Revenue Authority (ZIMRA).