New Cash Registers In Hungary Lift VAT Revenues
- 19 Feb 2015 4:00 AM
VAT revenues in the retail sector rose by 14% or Ft 227 billion last year, a clear sign that the online cash registers have helped to whiten the economy, state secretary András Tállai told Napi Gazdaság.
Other factors, such as improving economic fundamentals, also played a role, he added.
Tállai said the positive effects of the requirement that cash registers be directly linked to the tax office can be seen in the entire supply chain.
There are 188,000 cash registers connected to the tax office, which continuously analyses the data.
Given the success of the scheme, the government is planning to make online cash registers compulsory in the service sector.
Source: Hungary Around the Clock
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