Tuesday, February 25 2020 15:33
Alina Hovhannisyan

SRC warns of risks associated with the liberalization of cash  registers market

SRC warns of risks associated with the liberalization of cash  registers market

ArmInfo.On the initiative of the State Revenue Committee of Armenia (SRC) as a result of the liberalization of the process of introducing cash registers (CAC),  each business entity, in accordance with the requirements established  by the Government of the Republic of Armenia, can import cash  registers, develop software, implement and maintain these devices.  

According to the official statement of SRC, as a result of the  liberalization of the cash register market at present, the  organization selling this device is responsible for the smooth  operation of devices and software compliance.

Given the above, the State Revenue Committee of the Republic of  Armenia informs that when acquiring a cash register from a business  entity, attention should be paid to a number of factors, including  the availability of a guarantee, the possibility of conducting  non-cash transactions through register, and including settlement  documents in the register's software. Attention should also be paid  to the possibility of regular bringing the program into compliance  with the requirements established by the legislation of the Republic  of Armenia and the Government of the Republic of Armenia.

It should be noted that the conclusion on compliance with the  requirements for the cash registers and their software is provided by  the Office for the Implementation of Cash Register Machines SNCO, and  business entities involved in the supply of the cash registers have  the right to sell those device models that have received a conformity  statement.

To recall, earlier the chairman of the State Revenue Committee of the  Republic of Armenia David Ananyan stated that until mid-March 2020  the demand for new-generation cash registers will be fully satisfied.

It should be noted that after the liberalization of the cash  registers market, which de facto started in October 2018, a number of  organizations took certain steps towards importing new devices. At  the same time, there is a technical task that needs to be addressed  if there is a desire to provide importers with access to the cash  registers market. Today, the legislator requires that the new  generation of registers have the function of a POS terminal. To  implement this function, in turn, there is a need to coordinate work  with banking institutions, which will take a long time. As a result,  SRC offers, in case of meeting all the other requirements, to give  the green light to their introduction, with a condition to activate  the POS terminal function over the next 6 months.

ArmInfo reported a problem of a shortage of registers on the market,  since the use of new-generation cash registers was mandatory from  January 1, 2019. Earlier, the Armenian government has repeatedly  extended the terms for their implementation - first until January 1,  2016, and then - until the beginning of 2017 and 2018. In February  2019, the government announced that it would subsidize the difference  between the cost of new cash registers equal to 158 thousand drams  and its selling price of 60 thousand drams, spending about $ 5  million for these purposes. This, as announced, concerned 25 thousand  tax agents, for whom the availability of new generation cash  registers became mandatory as of January 1, 2019 and which, due to  lack of funds, cannot afford it.