The Malawi Revenue Authority (MRA) officials say they will take stern measures against traders issuing non-fiscal receipts by the end of June this year. MRA Commissioner General, John Biziwick says MRA will first of all implement the use of Electronic Fiscal Devices (EFD) for Value Added Tax (VAT) operators before taking action. According to Biziwick, the implementation of EFD is line with legal changes made in July 2011 which gives VAT operators mandate to acquire and use these machines when making each transaction. The implementation runs in phases depending on the VAT operators beginning with those that are currently using manual receipts or ordinary cash register. The program extends to Point of Sale System requiring Electronic Fiscal Printers followed by those that issue business to business invoices and require Electronic Signature Devices. The MRA boss then said that it will be mandatory to operators to process transactions through Electronic Fiscal Devices units and issue fiscal receipts or invoices when the operations commence. Read more on EDFs capitalradiomalawi.
Posted on: Fri, 07 Mar 2014 07:59:05 +0000
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