​The Ministry of Finance abolishes the mandatory storage of fiscal reporting cheques in the payment logs of entrepreneurs

10/11/18

The order of the Ministry of Finance No. 773 has entered into force. It stipulates amendments in the registration and operation procedure for cash registers, the registration and maintenance of payment logs and KOROs (payment registration books) as well as the sealing of cash registers.

Previously, entrepreneurs wishing to register their cash registers had to spend money and time (five days on the average) for this. It caused a standstill in their business operations and incurred financial losses. The new procedure makes registration easier.

The SFS is establishing a register of cash register devices and a register of service centres. These registers will contain all necessary information about cash registers. It will make enable the owners of cash registers to register them in a one-step procedure within one day by submitting a simplified application.

According to this order, it is also no longer necessary to stick reporting cheques in the KORO log in the end of each business day.

Moreover, it is no longer mandatory to use the KORO logs. However, if a cash register is defect or if electricity supply is cut, the owner of a cash register must suspend operation, until the cash register is operable again.

Less paper and more work – we are eradicating inefficiency and bureaucracy from the life of business people. The more human the state is in treating the business community, the more incentives business has to operate in a diligent and transparent way. I thank all business representatives, experts and citizens who were actively engaged in this work. We will continue to make steps towards each other”, said Deputy Minister of Finance Sergiy Verlanov.

The text of the Order is available here: https://goo.gl/jYRAKM

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