African countries are following e-invoicing and continuous transaction control trends implemented rapidly by many countries around the globe.
Each country in the continent is developing their variation of a tax digitization system. This means there is currently no standardisation with compliance requirements differing in each jurisdiction.
A common transaction reporting feature among African countries is the use of electronic or virtual fiscal devices. Electronic fiscal devices are cash registers with software and direct communication to the tax authority. Virtual fiscal devices serve the same purpose but without the hardware component.
However, reporting transactions is one of many fiscal digitization processes applied by African countries. E-invoicing is on the agenda for several authorities, including Nigeria, Kenya and Uganda. In this blog we explain the key features of these systems.
Source: SOVOS
