Tuesday Sep 23, 2014
| Text Size
[-]
[+]
Search IPPmedia

TCCIA commissions study on electronic fiscal devices

12th September 2012
Print
Comments
TCCIA

The Tanzania Chamber of Commerce, Industry and Agriculture (TCCIA Morogoro Region) has commissioned an independent study on the challenges facing VAT registered businesses in operating Electronic Fiscal Devices (EFDs) in the three regions of Morogoro, Iringa and Njombe.

TCCIA Morogoro Region chairman Bachoo S. Bachoo said yesterday that the region is grouped as one in terms of paying tax, and efficiency or inefficiency of EFDs, which are a legal requirement for VAT-registered traders.

 “Many of our members have not been happy with the inefficiency of most of EFDs. That is why we saw it necessary to do a study that would show how traders are dealing with the challenges of implementing the devices,” he said.

The government through the Tanzania Revenue Authority (TRA) introduced Electronic Fiscal Devices (EFDs) in the Finance Act, 2010 to replace Electronic Cash Registers so as to enhance VAT collection.

“During the implementation of the EFDs from 2010 todate businesses have been encountering a number of challenges, which we feel it is good to know, they are up to what extent,” he explained.

TCCIA Morogoro has seen the importance of analysing the effectiveness of EFDs for the period that the machines have been used and advocate for the challenges to be exposed and addressed.

The study, being undertaken by Pamoma is financed by Business Environment Strengthening for Tanzania - Advocacy Component (BEST-AC).

According to TRA, EFD bears fiscal seal, has special inbuilt Read Only Memory (ROM), incorporates fiscal memory that cannot be erased by use of electromagnetic interface, keeps 48 hours power backup, can also use external battery in areas without electricity supply, and issues automatically self-enforcing daily Z reports.

Besides, the machines have irreversible date mechanism ensuring that no backdating can exist and they can be used as a stand alone or configured into network.
The tax collecting authority says the devices have memory capacity to store data for at least five years or 1800-day transactions.

TCCIA Morogoro Region aims to further link industrial and agricultural producers and traders to market and promote, coordinate, protect and expand commercial, industrial and agricultural interest to contribute towards expansion of employment opportunities in the country.

Its objectives include, among others, to unite its members of the business community, promote, co-ordinate and protect commercial, industrial and agricultural interests in Tanzania in general, and of members in particular, and foster social unity within and to promote the welfare of the commercial, industrial and agricultural community.

As a membership organization, TCCIA Morogoro is mandated to act as an instrument of the members in dialogue with the Government on broad issues of macro and micro-socio-economic policy.

BEST-AC is a grant programme that assists business membership organisations to create a better business environment. The grants enable these organisations to be successful in their dialogue with government to change policies, laws and regulations. 

Besides, it is responsible for the effective and efficient design, development and delivery of the Private Sector Advocacy (PSA) Fund provided through grants from the governments of Denmark.

SOURCE: THE GUARDIAN
0 Comments | Be the first to comment