- The IKOF is a unique 32-character alphanumeric code generated by POS systems for each receipt.
- It ensures traceability and verification of receipts and must be printed on all fiscal receipts.
- The code is created using a specific algorithm based on parameters like taxpayer ID, date, receipt number, store and POS identifiers, software code, and transaction amount.
- Each POS device generates its own IKOF, resulting in different codes for each terminal.
- IKOF can be used for verification even without a fiscal confirmation code, enhancing audit and control within fiscal systems.
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.
Latest Posts in "Montenegro"
- Montenegro Expands VAT to Construction Land Sales Effective April 2026: Key Amendments Overview
- New VAT Representative Rules for Non-Residents Providing B2C Services in Montenegro Effective 2026
- Systematized Rules for Determining Place of Supply of Services Effective from February 2026
- Output VAT Reduction Allowed for Uncollectible Receivables Subject to Litigation Before Insolvency Proceedings
- New Rules for Adjusting Input VAT Deductions Effective from 6 February 2026
