With less than two weeks before the fiscalised tax registers deadline, retailers are reluctant to introduce the devices amid calls by economic analysts for the industry to adhere to the policy directive in order to enhance revenue collection.Fiscal authoritiesâ€™ efforts to increase awareness on the importance of adoption of the fiscalised tax registers seem to have fallen on deaf ears as most of the retailers are still to introduce the devices citing high cost of acquiring the gadgets.
A snap survey by ZBC News around several shops in the capital revealed that there is a general reluctance by the retailers to comply with the policy directive which becomes effective on the 1st of October this year.
Economic analyst, Mr. Chris Mugaga described the reluctance by retailers to introduce the devices as a reflection of the widespread unethical business practice by the local industry where there is high propensity to evade taxes.
Observers and economic analysts have however dismissed the high cost argument by retailers as misplaced, as government has put measures to mitigate the cost of acquiring the devices including the rebates of duty on the importation of approved fiscalised registers by approved suppliers.
Economic analyst, Mr. Innocent Makwiramiti called upon industry to comply with the policy directive in order to minimise cases of tax evasion and to maximise revenue collection.
According to the Statutory Instrument 104 of 2010, failure to comply with the requirement to use fiscalised tax registers for recording of all business transactions constitutes an offense and renders the operator liable to a fine or imprisonment.