Fiscalization in Zimbabwe is hardware-based; fiscal devices are used. But, at the beginning of 2023, some changes were announced in their National Budget plan. This refers to some changes in the fiscalization system (known as Virtual fiscalization) in terms of modernizing this system, introducing some new features, possible software requirements, a new system for controlling income, and similar. The goal of these changes is to eliminate the challenges being experienced by the current system. That is why the Zimbabwe Tax Authority (ZIMRA) has published a public notice about the Fiscalization Data Management System. Importantly, there are still no new laws and regulations, but they are expected to be published soon. But the new system will support software-based fiscalization and real-time communication with the Ta authority, ZIMRA, which represents a major step forward in the fiscalization rules.
The Zimbabwe Tax Authority's official announcement regarding the new fiscalization system
Public
Other countries
Author: Kristina Dosen
Category:
Fiscal subject related
Views:
3411
Content accuracy validation date:
07.07.2023
Content accuracy validation time:
09:52h
Fiscalization Data Management System, or FDMS, is an integrated fiscalization back-end solution that is focused on interfacing with most of the existing and installed hardware fiscal devices at taxpayers’ points of sale while introducing virtual fiscalization solutions to harness opportunities presented by digitalization, offering self-service facilities to both taxpayers and approved suppliers and manufacturers of fiscal devices, thereby improving ZIMRA Service Delivery.
According to the above-mentioned Public notice, the main functions of FDMS are:
- Fiscal tax invoice-receipt generation
- Credit note or Debit note generation
- Z report generation
- Tracking and checking of the fiscal device upon purchase
- Registering fiscal devices
- Online Error reporting and acquittal
- Online device monitoring
Also, some benefits of FDMS have been introduced and referred to:
- Taxpayer login portal
- Allows for invoice validation, confirmation of receipt generation through self-service login into FDMS, and scanning of QR codes to prevent fraud.
- Allows for the issuance of Credit notes and Debit notes, assisting taxpayers in amending errors made on receipts.
- Convenience and low compliance costs through the use of the mobile Android App and Microsoft Windows App
- Instant API gateway communication
- Convenient device error reporting and resolution
- Quick registration and interfacing of fiscal devices
- VAT Input tax schedules will be system-generated.
We are monitoring new changes, and new regulations and explanations are expected soon.
Other news from Other countries
Malaysia Postpones Mandatory E-Invoicing to 2027
Public
Other countries
Author: Ljubica Blagojević
Other countries
Author: Ljubica Blagojević
Malaysia has delayed mandatory MyInvois e-invoicing for businesses with RM1m–RM5m (€190k – €980k) turnover to 1 January 2027, with an extended penalty-free transition, citing readiness and cost concerns. This follows the increase of the exemption threshold to RM1 million, which removes smaller businesses from the scope and cancels the RM500k–RM1m rollout. Larger taxpayers remain on the existing ti... Read more
Hong Kong Mandates Electronic Filing for Pillar Two Top-Up Tax Starting January 2026
Public
Other countries
Author: Ljubica Blagojević
Other countries
Author: Ljubica Blagojević
Inland Revenue Department confirmed that Pillar Two top-up tax filings in Hong Kong will be mandatory via an electronic portal from January 2026. In-scope Part 4AA entities must submit notifications and returns through the new Pillar Two Portal, accessed via the Business Tax Portal (BTP), using an organisational e-cert with AEOI functions. While Pillar Two applies to fiscal years starting 1 Januar... Read more
Challenges in Managing Electronic Invoices in Vietnam
Public
Other countries
Author: Ema Stamenković
Other countries
Author: Ema Stamenković
Strengthening management through stricter enforcement, advanced technology, and increased awareness of tax laws is essential to prevent fraud effectively and protect revenue. Current laws impose administrative or criminal penalties for illegal invoice trading/use, based on severity. Decree No. 310/2025/ND-CP (amending Decree 125/2020/ND-CP), effective January 16, 2026, expands violation scope, cl... Read more
New Simplified VAT Framework Introduced for Small Businesses in Chile
Public
Other countries
Author: Ema Stamenković
Other countries
Author: Ema Stamenković
From January 1, 2026, Chile simplifies VAT for small businesses, allowing fixed monthly payments if qualifying criteria and application procedures are met. With effect from January 1, 2026, the Chilean tax authority has simplified the VAT taxation regime for small taxpayers. This simplifies their tax obligations by enabling qualified small businesses to pay a fixed monthly VAT based on their sales... Read more
Accredited Service Provider (ASP): The Trust Anchor in UAE's E-Invoicing
Public
Other countries
Author: Ema Stamenković
Other countries
Author: Ema Stamenković
An Accredited Service Provider (ASP) is crucial for businesses in the UAE’s digital tax system, holding exclusive authority to obtain clearance from the Federal Tax Authority (FTA). Unlike standard ERP software, ASPs provide secure transmission and validation, serving as intermediaries in the Peppol-based 5-Corner Model for e-invoicing. Their core responsibilities include transforming raw data int... Read more
Understanding VAT Rates in Vietnam
Public
Other countries
Author: Ema Stamenković
Other countries
Author: Ema Stamenković
VAT in Vietnam is applied to goods and services, with rates of 0%, 5%, and 10% depending on the product category. A temporary reduction to 8% is enacted until December 31, 2026, except in certain sectors. Exemptions include agricultural products, items with low annual revenue, and specific services. Businesses must properly manage VAT rates to avoid penalties, file declarations monthly or quarterl... Read more
Malaysia Tightens E-Invoicing Validation Rules for Data Quality
Public
Other countries
Author: Ljubica Blagojević
Other countries
Author: Ljubica Blagojević
Malaysia’s Inland Revenue Board (IRBM) is strengthening e-invoicing validation rules by introducing stricter format, length, and code requirements for main invoice fields to improve data quality. Businesses must update their invoicing and ERP systems to avoid rejections, with the changes effective in Sandbox from 15 December 2025 and in Production from 9 January 2026. The updated rules impose form... Read more