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TIMS Notice.pdf

02_TIMS-Public-Notice-Overview-of-TIMS-Survey-Reminder-Eng-Sam-version-7-Aug-2019.pdf
Preview of TIMS Notice
🔗 Source: revenue.gov.ws
📊 Size: 900 KB
📄 Pages: 6 pages
⬇️ Downloads: 67

Summary

The Ministry of Customs and Revenue introduces the Tax Invoice Monitoring System (TIMS) to increase compliance and reduce tax evasion. TIMS will monitor all sales of goods and services, and businesses must use Electronic Fiscal Devices to provide instantly verifiable invoices. The system will be launched in January 2020 and rolled out in five groups, with businesses expected to comply based on their group assignment. There is no new tax imposed, and any additional cost will be a one-off installation fee, guaranteed to be affordable. A free POS application will be provided for small taxpayers. The benefits of TIMS include protecting honest taxpayers, increasing transparency and accountability, minimizing compliance costs, and enabling business owners to monitor sales teams.

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Description

The Ministry of Customs and Revenue introduces the Tax Invoice Monitoring System (TIMS) to increase compliance and reduce tax evasion.

Technical Information

  • File Format: PDF
  • File Size: 900 KB
  • Pages: 6
  • Language: EN
  • Total Downloads: 67
  • Last Updated: 1 week ago

Document Overview

This PDF document about TIMS Notice provides comprehensive information and guidance. Whether you're a beginner or advanced user, this resource offers valuable insights into TIMS Notice.

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