Electronic Tax Register (ETR) is a cash register used to record sales and provide ETR receipts to customers. It connects your business to the taxman, preventing fraud and improving cash flow. ETR machine also saves costs, improves VAT collection, and prevents tax evasion. It ensures small traders are included in the tax bracket for higher revenue collection.
ETR machines are falsification-proof and thus they come highly recommended for your Company.
How ETR Machines Can Help with Your Company Taxes
Data is transmitted each time a transaction is made through the ETR machine. This means KRA is constantly watching the taxpayer. It also has (GPRS) which helps a taxman track the location of each ETR device. The risk of your business failing to pay taxes when the register is stolen and KRA losing revenue is completely eliminated.
Whenever a transaction is made, data is transmitted to the central KRA server. It’s calculated and stored ready for reconciliation when actual tax returns are filed each time the month comes to an end. The technology helps KRA save millions in the cost of operation.
GPRS is used remotely to track the location of ETRs, transmitting data to a central KRA location. It ensures KRA has access to all payment records made before filing tax returns.
In conclusion, ETR devices are meant to help your business minimize the risk of losing revenue if it fails or is stolen.