Fiscalisation is the recording of transactions for Value Added Tax (VAT) purposes using electronic fiscal gadgets. The fiscalised gadgets record the information on read only memory, meaning that once recorded, this information cannot be altered (SI 104 of 2010). Statutory Instrument 153 of 2016 requires every registered operator to connect all fiscal devices to the ZIMRA server for the purposes of transmitting sales data. Interfacing means linking of a registered operator's fiscal devices to the ZIMRA server. VAT Registered Operators should fully fiscalise for currency of transaction and their devices interfaced with ZIMRA servers. That is, devices should be configured to specifically show:

  • •Transactions done in local currency ZW$
  • •Transactions done in foreign currency like the USD.

Where client have devices that cannot be configured for multicurrency, different devices can be configured to show either of the above requirements.

WHO IS REQUIRED TO FISCALISE AND INTERFACE?

All VAT registered operators are required to fiscalise their operations and ensure the devices are interfaced with Zimra systems. Fiscalisation as outlined in SI 104 of 2010 as read with SI 148 of 2016 and SI 153 of 2016.

WHAT ARE FISCAL DEVICES?

Fiscal devices are electronic devices, which contain a “fiscal memory”. A “fiscal memory” is a special read only memory which is permanently built into a fiscalised device to store tax information at the time of the sale. There are three categories of fiscal devices, from which clients can choose from depending on their nature of business.

– Fiscalised electronic cash register/ electronic tax registers (ETRs)

-Fiscal printer

-Electronic signature device (ESD)

REQUIREMENTS OF TAXPAYERS AND REGISTERED OPERATORS:

  • ensure that in all instances documents recording sales (Invoices, Tax Invoices, Till Slips, Receipts or other documents recording sales) are issued to the customers.
  • Fiscalised registered operators are required to produce fiscalised documents.
  • Where a sale is made in Zimbabwe dollars, the invoices/till slips/receipts recording the sale must be issued in Zimbabwe dollars.
  • Where a sale is made in foreign currency, the invoices/till slips/receipts recording the sale must be issued in foreign currency.
  • Where a sale is made in parts of Zimbabwe dollars and foreign currency the invoices/till slips/receipts must reflect such currency details.
  • On areas of non-compliance clients are encouraged to come forward and make voluntary disclosures

Statutory Instrument 153 of 2016 requires every registered operator to connect all fiscal devices to the ZIMRA server for the purposes of transmitting sales data. All VAT registered operators were thus expected to interface their devices by 31st December 2017. Clients must therefore approach your preferred supplier of the fiscal devices to expedite and finalise the fiscalisation process.

 

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Disclaimer

This article was compiled by the Zimbabwe Revenue Authority for information purposes only. ZIMRA shall not accept responsibility for loss or damage arising from use of material in this article and no liability will attach to the Zimbabwe Revenue Authority.