As we already announced, a new fiscalization known as virtual fiscalization (software-based) is expected in Zimbabwe. The authorities are working on regulations and more details, but certain general requirements have been introduced. The latest information is published by the Zimbabwe Revenue Agency, known as ZIMRA.
Here are the additional particulars...
Changes in fiscalization in Zimbabwe: Fiscalization Data Management System
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Author: Kristina Dosen
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Fiscal subject related
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4804
Content accuracy validation date:
08.09.2023
Content accuracy validation time:
09:45h
More precisely, in the public notice from August 2023, the main information is presented for the fiscalization data management system (FDMS). It represents 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.
Importantly, it is stated that the Commissioner of Domestic Taxes hereby advises all registered operators and taxpayers who are required to fiscalize under the Value Added Tax (VAT) Act to comply with the requirements of the new Fiscalization Data Management System (FDMS).
Taxpayers are supposed to ensure that they:
- Upgrade their hardware fiscal devices to comply with, interface with, and be compatible with the ZIMRA Fiscalization Data Management System (FDMS).
- Ensure that all receipts (Fiscal Tax Invoices) issued at each and every point of sale operated by a taxpayer are: recorded through the upgraded fiscal devices, interfaced with FDMS, printed invoices displaying QR codes, and authentication codes that can be verifiable using the ZIMRA FDMS Validation Portal https://fdms.zimra.co.zw and any QR code scanner applications.
- Work with the ZIMRA-approved suppliers of fiscal devices to ensure that all their existing or installed hardware fiscal devices are configured with the new FDMS Application Programming Interface (API) or
- Where the taxpayer wishes to directly interface with ZIMRA using their online point of sale, server, or accounting system, kindly liaise with the ZIMRA Fiscalization Team at the nearest ZIMRA office for more details related to the Application Programming Interface [API] and ensure compliance with the ZIMRA FDMS.
- Issued with receipts (Fiscal Tax Invoices) that can be validated from the FDMS system using QR codes or authentication codes for use when claiming VAT input tax.
Also, they introduced the benefits of FDMS as follows:
- Improved ZIMRA service delivery through a self-service portal to taxpayers, approved suppliers, and manufacturers of fiscal devices;
- Taxpayers will be able to verify receipts (Fiscal Tax Invoices) soon after purchases through QR codes, authentication codes, and verification portals.
- Increased ZIMRA operational efficiency when processing VAT refunds and verification of input tax claims;
- Introduction of virtual fiscalization solutions, which will complement the existing hardware fiscal devices while offering a variety of choices and options to taxpayers in Zimbabwe;
- Increasing tax compliance amongst taxpayers as FDMS will reduce and detect tax fraud;
- Increase in transparency when dealing with fiscal tax invoices, as taxpayers will also be able to verify before claiming input tax.
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