Rada proposes to include payment devices in list of cash registers

Ukraine's parliament has been proposed to include payment devices in the list of equipment related to cash registrars to strengthen control over cash circulation and increase revenues to the national budget.

A corresponding bill was initiated by the deputy head of the parliamentary special control commission on privatization, Valeriy Pysarenko. The draft document was registered as No. 11180 on September 6.

The bill foresees amendments to the law on the use of cash registers in trading, public catering and services.

The explanatory note to the bill states that the adoption of the document will help prevent the artificial reduction of companies' turnover of goods, labor or services paid through the network self-service terminals.

In addition, the document is aimed at increasing tax payments to the national budget through the increase in the volume of taxable goods, preventing money laundering, and improving customers' protections.

According to the explanatory note, with reference to data from the National Bank of Ukraine, as of the beginning of this year the country had 92,400 terminals belonging to banks and non-banking financial institutions. The volume of payments received in 2011 reached Hr 46.376 billion.