Businesses are worrying about their operations as MRA’s 2018/2019 budget reveals some promises made have been broken.
For instance, the enforced purchase of Electronic Fiscal Devices (EFD) in 2014 by MRA, had come with a promise to refund businesses that had first bought the devices. The new MRA budget has ceased the funding of these devices, hence purchasing the devices will be a burden on newly established businesses.
Initially the devices were to be free of charge because all VAT operators that would procure and use thedevices would benefit from a cost-recovery scheme by claiming 100 percent cost of the device from MRA through subsequent VAT returns.
Having the device being enforced at a cost, businesses are to suffer, as fear is brewing in business owners that have less sales.