Electronic Records of Sales

Although the Ministry of Finance planned for the Electronic Records of Sales Act to become effective from July, 2016, it appears to be postponed, yet again, to a month later.The repeated deferral has been caused by objections of the Opposition, which led to politicising of both the technical and substantial levels of the project. The main object of ERS introduction is to detect fraudulent conducts of local businesses and, on the other hand, not to overburden those who perform their business activities in an honest way. What is more, a possible rise in the state income achieved by reducing the tax evasions might, eventually, result in a reduction of the tax burden.

It seems, that due to the adverse reactions the project has provoked, 1 August, 2016, which is the new date set for the implementation of the procedure, may yet change...