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Traders: the fund against fraud in the VAT becomes compulsory

as of 1 January, traders must equip software cash secured where all operations will be traced. Complete the fraud at the cash register: the cash on the black m

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Traders: the fund against fraud in the VAT becomes compulsory

as of 1 January, traders must equip software cash secured where all operations will be traced.

Complete the fraud at the cash register: the cash on the black market, without paying taxes, are going to become impossible for the traders. Bercy requires a software checkout ultra-secure and to trace the flow of money. This obligation date of the finance act for 2016, is effective on the 1st of January.

The system of concealment of income in cash are exempted from the tax authorities is simple. Until now, merchants still have the opportunity, with some of the systems of cash, issuing receipts to customers without the transaction being recorded.

This practice is a fraud on the VAT collected and not paid to the State and to tax on profits, since the revenues not reported minorent the result and therefore the tax.

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To comply with the legislation, the trader will either acquire new software (or update the existing one) or acquire a new cash system to comply if the former cannot be set and secure.

An accredited organization or the software vendor shall deliver to the professional a certificate to substantiate the compliance of the tool.

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micro-entrepreneurs spared

Initially, all the companies whose activity falls within the scope of application of the VAT were covered. However, in the face of the concerns of micro-entrepreneurs with low turnover, very keen to have to invest in this cash system is costly, the government has simplified the device.

READ ALSO >> Software anti-fraud: finally, the micro-entrepreneurs are not all concerned

On June 15, 2017, the minister of the Action and of the public accounts, Gérald Darmanin, has announced that the scope would be limited to the software and checkout systems used by retailers for food and non-food (excluding trades of the mouth) and the traders on the markets.

What are the risks?

The merchants are prevented since two years. They must comply with in order to avoid a big fine.

In the case of control of the tax administration, the traders will have to prove the compliance of their software with the certification by an accredited body or a certificate from the publisher of the software.

Read our complete file

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Without the certificate, the law provides for 7500 euro fine for those who are not up to the standards. They will then have two months to be equipped, otherwise they will again need to pay 7500 euros fine - not to mention a possible tax control.

This fine may be combined with the reminders of tax and penalties that would be payable in respect of the income concealed. Suffice to say a salty note.

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