The Zimbabwe Revenue Authority (ZIMRA) has issued a reminder to all registered operators under the Value Added Tax (VAT) Act [Chapter 23:12] regarding the compliance requirements for Fiscal Tax Invoices (receipts). This reminder aims to ensure compliance and streamline the VAT process for all registered operators.
Compliance with the fiscalization data management system in Zimbabwe
Public
Other countries
Author: Nikolina Basić
Category:
Fiscal subject related
Views:
1659
Content accuracy validation date:
25.10.2024
Content accuracy validation time:
08:04h
It is stated that:
- Fiscal device requirement: all fiscal tax invoices (receipts) must be generated by a fiscal device that is integrated with the ZIMRA Fiscalization Data Management System (FDMS).
- Non-compliance consequences: invoices (receipts) that do not comply with these requirements cannot be used to claim VAT input tax or income tax expenditure.
- Invoice (receipt) Features: According to Section 20(4) of the VAT Act, a compliant fiscal tax invoice must include:
- The words “Fiscal Tax Invoice” are prominently displayed.
- The supplier's name, address, and registration number.
- The recipient's name, address, and registration number (if applicable).
- A unique serial number and the date of issuance.
- A description of the goods or services supplied.
- The quantity or volume of goods or services supplied.
- The amount of tax charged.
- Verification process: to ensure an invoice is generated by a compliant fiscal device:
- The invoice (receipt) should feature a verifiable QR code, which can be authenticated via a QR code scanner or the ZIMRA FDMS portal.
- The details on the printed invoice must match those transmitted to the FDMS and be verifiable.
- The invoice (receipt) should show as 'valid' on the validation portal without errors. Any discrepancies must be rectified by the issuer.
- Buyer Information: When a buyer requests a fiscal tax invoice (receipt), it is mandatory to capture the buyer's full details, including:
- Buyer Name
- Buyer Address
- Buyer TIN
- Buyer VAT Number (if registered for VAT)
Other news from Other countries
Indonesia Clarifies E-commerce VAT
Public
Other countries
Author: Ljubica Blagojević
Other countries
Author: Ljubica Blagojević
In Indonesia, online marketplaces facilitating cross-border digital sales may be required to charge and remit VAT, though the law is unclear on which platforms this applies to. Marketplaces must also report all vendor transactions to the tax authorities. These rules aim to strengthen VAT collection and increase transparency for digital sales to Indonesian consumers. A marketplace operator is defin... Read more
Qatar's Tax System: VAT & Electronic Invoicing
Public
Other countries
Author: Ema Stamenković
Other countries
Author: Ema Stamenković
Qatar is implementing a modern, transparent, and digitized tax system to align with a globalized economy. Main reforms include strengthening the General Tax Authority, preparing for a 5% VAT under the GCC VAT Framework Agreement, and exploring electronic invoicing. Qatar is shifting toward a modern, transparent, and digitized tax system to align with a globalized, less hydrocarbon-dependent econom... Read more
VAT & Promotions: Understanding Vouchers, Gifts, and Discounts in the UK
Public
Other countries
Author: Ema Stamenković
Other countries
Author: Ema Stamenković
VAT treatment for business promotions is complex due to changes in EU and domestic legislation and case law. The main points are whether there is a supply and, if so, what the value of that supply is. The UK rules for face value vouchers (FVV) have been altered, with VAT due on the value of the voucher when issued. Single-purpose vouchers carry the right to receive only one type of goods or servic... Read more
Latvia Moves Towards Mandatory E-Invoicing: Consultation Now Open
Public
Other countries
Author: Ema Stamenković
Other countries
Author: Ema Stamenković
The Latvian Cabinet is launching a public consultation on a draft regulation for mandatory electronic invoicing, outlining technical standards, transmission channels, and compliance timelines, with voluntary participation allowed for B2B transactions. A public consultation on a draft regulation outlining the steps for enforcing mandatory electronic invoicing in Latvia was launched by the Latvian C... Read more
USA: New York Passes Law Requiring Stores to Accept Cash
Public
Other countries
Author: Ivana Picajkić
Other countries
Author: Ivana Picajkić
New York has passed a law requiring stores to accept cash, banning retailers from refusing it as payment. The aim is to protect access to basic goods for low-income, elderly, and unbanked residents in an increasingly cashless economy. The bill now awaits the governor’s signature. New York has passed a new law that requires stores to accept cash. The bill, approved by both chambers of the state leg... Read more
Malaysia Adopts PINT-MY Billing for E-Invoicing
Public
Other countries
Author: Ljubica Blagojević
Other countries
Author: Ljubica Blagojević
The PINT-MY Billing Specification is Malaysia’s version of the Peppol e-invoice, adapted for SST and based on the UBL 2.1 XML format. It sets guidelines for B2B and B2G invoicing via the MyInvois platform, supporting automation and tax compliance. It includes defined business roles, main invoice fields, and tax tagging for SST (Sales and Service Tax), TTx (Tourism Tax), LVG (Low-Value Goods), and... Read more
Latvia: B2B E-Invoicing Mandate: New Timelines Approved
Public
Other countries
Author: Ema Stamenković
Other countries
Author: Ema Stamenković
The Latvian Parliament adopted a revised draft law, No. 967/Lp14, setting new deadlines for mandatory e-invoice data reporting, domestic B2B transactions, and voluntary e-invoicing for small businesses. On June 5, 2025, the Budget and Finance (Tax) Committee rejected a proposal (Amendments to the Accounting Law No. 927/Lp14) to delay the B2B e-invoice mandate to January 1, 2027. Instead, a revised... Read more