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Fiscalisation refers to configuring of fiscal devices to enable them to record sales and other tax information on the read only fiscal memory at the time of sale for use by ZIMRA in Value Added Tax administration.
These 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 broad categories of the prescribed fiscalised devices and these are;
· Fiscalised electronic registers, also referred to as electronic tax registers (ETRs);
· Fiscalised printers; and
· Electronic signature devices (ESDs)
Every VAT registered operator, whether in retail or not, is obliged to have a fiscalised device for the purpose of recording their day to day transactions. The registered operators have certain requirements spelt out in the statutes that must be followed when one has a fiscal device.
However, the Authority has noted that some registered operators are not complying to the requirements. Kindly note that as outlined in SI 104 of 2010 as read with SI 148 of 2016 and SI 153 of 2016. VAT registered operators are mandated to do the following:
- ü Use the device on a daily basis and for every transaction.
- ü Prepare daily, monthly and annual reports (z-reports), which outline:
i. the date of the report and period it applies;
ii. the name and address of the registered operator;
iii. the VAT identification number and Business Partner Number of the registered operator;
iv. the unique identification number (Serial number) of every fiscalised electronic register, fiscal memory device and electronic signature device used by the registered operator;
v. the total value of sales in respect of the period covered by the report; and
vi. the total amount of tax paid in respect of the period covered by the report.
- All All currencies of trade should be shown on the report
- Ensure that the device is correctly configured with particular regard to description of goods/services and the correct allocation of their respective tax rates.
- Keep such reports as mentioned above for a period six years and avail such reports to ZIMRA whenever required to do so.
We encourage all registered operators with fiscal devices to comply as failure to do so may attract penalties and lead to prosecution.
- How do I know the type of device I am required to use?
VAT registered retail operators are required, for the purposes of recording their business transactions, to use:
· A fiscalised electronic register; or
· A non-fiscalised electronic register together with a fiscal memory device.
All other operators who are required to use such devices but who are not retail operators are required to use:
· An electronic signature device; or
· A fiscalised electronic register; or
· A non-fiscalised electronic register together with a fiscal memory device.
- Is there any assistance ZIMRA is giving in acquiring the devices?
Incentives which are granted to facilitate the Fiscalisation Programme are as follows:
· Registered operators can claim 50% of the cost of acquisition of the fiscal electronic registers as Input Tax on their VAT 7 Return.
· In addition the remaining 50% is spread over two years as and claimed as SIA on the Income Tax Return (ITF 12C).
· Rebate of duty is granted to Approved Suppliers on the importation of fiscal devices and fiscal memory devices.
· No VAT is payable on the importation of fiscal devices by approved suppliers.
The local supply of fiscal devices and fiscal memory
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