France introduces the anti-VAT fraud cash register
France will require retail businesses to introduce a certified anti-VAT fraud cash register as from January 2018.
What is an anti-VAT fraud cash register?
France will require retail businesses to introduce a certified anti-VAT fraud cash register as from January 2018.
Entities registered for VAT purposes that use a cash register to account their customers’ payments will be obliged, from next year, to use a certified anti-fraud cash register that fulfils certain requirements regarding integrity, security, storage and archiving data.
What are the requirements?
The accounting software and cash register must fulfil the following requirements:
- Tax Authorities must have access to the data recorded for each transaction, including any correction made.
- The integrity of the data must be guaranteed and cannot be altered, so that in case of failure all data can be restored.
- Storage and archiving process must meet the formalities set by the Tax Authorities regarding the frequency, format, etc.
- Provide for at least one annual accounting close.
- The cash register systems must also provide for a daily and a monthly close.
How can I get a certified software?
Businesses have two options to obtain a certified cash register:
- Having their current software certified by an authorized organization.
- Asking for an individual certificate issue by the publisher of their software, which states that the software meets all requirements setting by French law. These requirements are basically integrity, security, storage and archiving data.
What are the risks?
All business that not comply with French tax authorities’ requirements may incur in penalties up to €7,500 €.
France introduces the anti-VAT fraud cash register