Half of Mozambican building contractors are on the verge of bankruptcy - federation
File photo / Amélia Nakhare
The Mozambique Tax Authority (AT) has announced that it will fine taxpayers who do not issue invoices, receipts or any equivalent documents in their transactions from 1 February next.
Fines will also be applied to purchasers who do not require invoices or receipts, or who have not kept them for the period stipulated by law.
The measures were announced yesterday by AT president Amélia Nakhare during a meeting with businesspeople in Maputo.
The meeting presented the results of AT initiatives in November and December 2017 designed at raise awareness among economic stakeholders about the need to issue invoices for transactions, especially for the deduction of Value Added Tax (VAT).
At the time, Amélia Nakhare described the situation the AT teams involved in the awareness-raising actions found as “very complex”.
“The statistics presented to us indicate that out of 4,000 taxpayers visited, only 700 were issuing invoices. This is very serious because the sample is too small for the more than 100,000 taxpayers registered in our system. In other words, only between two and ten percent of our taxpayers is issuing invoices,” said Nkhare.
Talking to reporters at the end of the meeting, the AT General Director of Taxes Augusto Tacaríndua said that the decision to start applying the penalties was irreversible.
“There will also be fines for stationery companies printing invoices without proper authorisation and taxpayers who use invoices printed by unauthorised firms,” he said.
Tacaríndua also said that the legislation provides, for example, fines ranging from 5,000 to 70,000 meticais for not issuing invoices or receipts or issuing them outside the five working day deadline.
“The non-requirement of issuing invoices or receipts, or their non-conservation for the period of time legally established, is subject to a fine ranging from 2,000 to 30,000 meticais,” he said.Source: Notícias