Role of Fiscal Devices in Ensuring Tax Compliance and Transparency in Cyprus

• Cyprus uses Electronic Tax Registers (ETRs) or Fiscal Electronic Mechanisms (FEMs) for fiscalization.
• These devices issue tax documents, confirm revenue transactions, and securely store data in fiscal memory.
• They ensure transparency, prevent manipulation, and guarantee data integrity and traceability.
• Fiscal devices enable effective audits by tax authorities.
• All taxable transactions from cash registers or POS systems must be recorded in the device’s fiscal memory to ensure tax compliance.

Source: fiscal-requirements.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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