The Ethiopian Revenue and Customs Authority said it is preparing a draft regulation on options tax payers should take when cash register machine stops giving service as a result of technical problems or close their businesses.

Yohannis Gizaw, Authority’s Tax Information Administration Director, in an exclusive interview with Walta Information Center (WIC) noted, currently, tax payers are required to store their cash register machine when it stops giving service as a result of technical problems or when tax payers close their businesses. The regulation is set out to fill this gap and extend options for tax payers when they want to remove cash register machine from service.

The new regulation set out options for tax payers to dispose the machine when they close their businesses, he stated.

Other countries experiences were taken into consideration while preparing the regulation, said Yohannis and the regulation intends at giving three options of disposal including the one in practice. Tax payers can register the machine if it is working and not outmoded at the Authority and avail it for sale, Yohannis explained.

The Authority has held talks with the importers of the machine, Yohannis informed. And he also stated the preparation of the draft is completed and it will be approved soon.

Source: Walta Information Center