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“The team was recently visible advising on a number of pharmaceutical cases. Sources agree that the team is “moving in the right direction” and are particularly impressed by its work in the pharmaceutical sector”.

 

The Disappearance of Paper Receipts Is Not That Far Off

28.01.2019

Oleksandr Kamsha, Attorney at Law, Insolvency Receiver

Source: LB.ua

In 2019 the Cabinet of Ministers of Ukraine lined up for the new and more advanced methods of payment for goods and services. Today companies use special devices – cash registers (CR). They print paper receipts we used to get in supermarkets, stores and many other public places.

At the same time, the State Fiscal Service of Ukraine launched an E-Receipt information system in the test mode. This system enables businesses to register cash registers and cashiers online without visiting the SFS bodies. It is fair to say that today it is the only new system available in the test mode. Everyone can install the software offered by the SFS on its official website and apply it in their activities. For its part, the SFS promises to introduce this system for general use should the test results be successful. It is quite possible that the E-Receipt will be the only program proposed and, as a result, Ukrainian entrepreneurs will have no alternative to work with.

At the same time, the SFS introduced an option of electronic receipt search in the open part of the Taxpayer’s Account. In other words, any buyer may use this service to find his/her e-receipt and, in the event of any discrepancies found, notify the SFS thereof. In the long run, this system will allow registering any device as a cash register with the possibility of real-time registering of issued receipts with the SFS. Any PC, tablet, smartphone or any other device with appropriate software installed will be possibly used as the CR? Currently the service is supported by Windows and Android. In the future, the support of iOS is expected. The support of various systems will provide unhindered access for a wide range of users. According to SFS, as much as 120 companies already use E-Receipt. And a number of cases of non-compliance of issued electronic receipts with the data received by SFS have been already registered, which may testify not only to the unscrupulousness of users, but also possible drawbacks of the software. In any case, the introduction of new technologies across the entire country is not always a one-step process.

The new system will not be launched immediately after 1 April 2019. And it is still premature to draw any conclusions on how the system will be developing. By the end of this year the project will produce results, at least, the authors hope so.

However, it is possible to predict the main trends in the development of modern payment systems, in particular: 1) registration of cash registers online with no time-consuming filing of documents in paper; 2) reduction of registration price; 3) real-time reporting to controlling bodies. The aforementioned should reduce the business burden in terms of financial and time costs. In addition, the cost of maintenance of accounting devices should decrease.

The advantages and nuances for business should also be mentioned. Firstly, the new system should reduce the bureaucratic component of the fiscal system. Secondly, it should reduce the shadow economy, which, in turn, will lead to the increase in the amount of tax deductions. Interestingly, this system promises significant cost reductions for the large and medium-size business, yet for the small businesses it may not be of particular interest, since the SFS will get a possibility to control the reporting more efficiently and quickly.

Currently the project is in its infancy. New technologies are being tested and not yet included in the state register. The feedbacks received show that there are shortcomings and gaps in their implementation. In order to successfully launch the project it is required to minimize the disadvantages of systems at the stage of their testing, update the legislation in the light of capabilities demonstrated by the new technologies, and expand the support of different operating systems. The business should monitor the information published by the SFS and appearing in the State Register. In addition, it is necessary to monitor possible amendments to the current legislation regulating the CR. The interdepartmental group, which should coordinate the process of selecting new systems, within the scope of its competence may prepare amendments that will regulate the operation of new accounting systems.

 
© 2019 Ilyashev & Partners / Mobile version