Addis Ababa — PETRAM plc is to import super sales register machine which the company hopes will offer various benefits to customers and business people in addition aiding government's effort of ensuring accurate vat payment system, the company's Managing Director said on Wednesday.
PETRAM will import estimated number of 2000-3000 of these machines (Fiscal Sales Register Machine) from Japanese Company (BMC) in the first phase within a month period of time, with an outlay of four to five million birr, According to Managing Director Abdulkerim Bedri.
He said the machines will be of great value to business organizations and the Federal Inland Revenue Authority (FIRA).
"In Ethiopia, there is no effective system of monitoring accurate Vat paying system ever since the country has implemented the Vat proclamation; which challenged the government in monitoring the tax paying system of business organizations," the Managing Director said.
Abdulkerim was explaining on the significance in the Ethiopian context of the machines at a symposium his company organized at the Sheraton Hotel.
This calls for Fiscal Cash Register Machine which not only helps the government to earn the amount of revenue it deserves; but also helps the business community to ensure registration of income with out any fraud, according to the Managing Director.
Another advantage of the machines is they will provide customers with accurate information about prices goods and service they purchase or procure, Abdulkerim explained.
He said the company has already secured the necessary green light from FIRA for the import of the machines-with one million blocked accounts in the bank.
Fiscal Machine utilizes e-mobile system which renders accurate information to the subscriber with no chance to fraud and with no need of supervision.
Besides, the machine is free from any system failure, according to Abdulkerim.
Fiscal Sales Register Machines will be available to five star hotels, supermarkets and other service providers for a reasonable price though selling price has not been studied yet, according to the Managing Director.
The Managing Director said they have not yet decided on the selling price of the machines but assured it will be reasonable.
"Putting the sales Register Machine in to practice is part of the improvements in Tax administration which will give dual benefit to the taxpayer and the government," Amarech Bekalo, General Director of FIRA who attended the symposium said.
Also present at the symposium was Japanese Ambassador to Ethiopia, Kinich Komano who assured the country's plan of jumping in to the middle income countries in less than two decades recalling the two digits economic growth that the country scored in the past four years.
He highlighted the benefit of the machines in augmenting efficiency of duties which will help to meet international standards, he added.