LOCAL Information Communication and Technology (ICT) company, Axis Solutions, has introduced a new electronic fiscal device which is affordable and safe from power cuts called the RevMax.
Zimbabwe has been facing crippling power crisis since earlier this year due to low rainfall experienced during the 2018/19 rainfall season, resulting in low water levels in the Kariba Dam.
"RevMax is our new portable fiscal device which has a larger storage facility, portable, is safe from power cuts and is available at half price of the current fiscal printers. As Axis Solutions, we are dedicated to ensuring that every business is a success, by providing IT management solutions to optimise business processes and drive digital transformation in Zimbabwe," Axis Solutions said in a statement.
Fiscalisation is the recording of transactions for Value Added Tax purposes using electronic fiscal devices which are electronic that contain a fiscal memory recording information on a read only memory, meaning that once recorded, this information cannot be altered.
The company invited all businesses to visit their offices for a free demonstration of the fiscal device.Axis Solutions also has instore, electronic tax registers, fiscalised printers and electronic signature devices.
According to Zimra, with effect from October 1, 2011 in terms of Statutory Instrument (S1) 104 of 2010 as amended by SI 99 which was gazetted on August 1, 2011, all eligible registered operators were required to commence recording of transactions using fiscalised devices.
Government introduced fiscalisation in 2010. The statutory instrument (SI) 104 of 2010 amended by SI 99 was gazetted on August 1, 2011 enforces all companies with an annual turnover of $240 000 to install the devices in line with value-added tax fiscalised recording of taxable transactions.
Since its introduction, the use of fiscal devices has faced negative responses from both big companies and small to medium enterprises, as they complained that the cost of buying the fiscal device was too high.
Axis Solutions is one of the nine Harare-based firms which were contracted by Zimra in 2016, to supply the fiscal devices.
Some of the other firms include Microware House, Rumikon Computers (t/a Matrix Warehouse Computers), Global Horizons, Document Support Centre, and Cortech Solutions, Fiscal Revenue Solutions (Aura Group, Fiscal Support Services and Just IT).