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The New Electronic Cash Register System, on a Trial Period

The-New-Electronic-Cash-Register-System-on-a-Trial-Period.jpgCompanies in Czech Republic are testing a new electronic cash register system, which will provide reliable information to the state’s authorities in terms of cash transactions completed across the country. The system entered into a one month trial period and it will become operational from the beginning of December 2016. Persons who want to open a company in Czech Republic will also need to implement the system, which is now tested for the reduction of tax evasion and increasing the real revenues obtained by various businesses. Our team of Czech lawyers can offer more details on the regulations related to the new electronic cash register. 
 

The main attributes of the Czech electronic cash register 

 
The new electronic system is connected to an online tax authority, which can verify the current situation of the companies that have implemented the cash register. The system will become available for most of the retailers in Czech Republic and the businessmen interested to set up a company here will be required to use this new system
 
At the moment, the local authorities declared that the system will be imposed in the first stage for the catering industry, as well as for the accommodation sector
 
Recent information in this sense reveals  that approximately 20% of  the businessmen have already purchased the new cash register, while half of the establishments that will need to use it were interested in finding out details on how the system works. The system will become compulsory and our team of attorneys in Czech Republic can offer more details in this sense. 
 
The challenges that are not yet clear for the local businessmen refer to various matters, such as: 
 
power outage;
no internet connection. 
 

The electronic cash register – tax matters  

 
Once the system will become available throughout Czech Republic, the local authorities consider they will collect additional taxes, amounting for EUR 666 million per year. As mentioned above, the first stage of the project will start in December, while the second one is programmed for March 2017 and it will be available for retailers and wholesalers. Later on, other industries, such as transportation and agriculture, will need to implement the electronic cash register
 
Businessmen interested in receiving more details on the new electronic cash register system are invited to contact our law firm in Czech Republic
 
 

Comments

  • Jacques 2016-11-04

    I've heard there are some concerns about this new system, but I believe that the trial period will reveal such issues, which will then be resolved, like in any other new technology.

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