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Mon, 02 Sep, 2013 12:09:46 AM
Govt moves to check grey economy in entrepreneurship
FTimes Report, September 2
File picture: Photo - Lehtikuva
Entrepreneurs must always offer customers a receipt for purchased products or services from the next year in order to increase the supervision of the use of cash and will thus help fight the grey economy, said an official press release.
The ministry of Employment and Economy recently issued the press release saying that the government proposed bill was approved by the President on August 29.
An entrepreneur's obligation to provide a receipt would apply to purchases made in cash and with payment cards in all industries, such as restaurants and hotels, grocery stores and hairdressers. 
The obligation to provide a receipt will improve customers' possibilities to detect sales that are not entered in the cash register and bookkeeping.
Thus, customers will be better able to choose and do their shopping at businesses that comply with the law. Customers do not have to take the offered receipt. 
The receipt should indicate the seller's contact details, the type and quantity of the goods or services as well as their price and value added tax.
The Act would not apply to non-profit associations and leisure activities, outdoor sales at marketplaces and fairs or occasional and minor trade or business. 
The Act is to be supervised by the police, the tax authorities and regional state administrative agencies.
If entrepreneurs do not provide a receipt, the supervising authority may impose a negligence fee of between EUR 300 and EUR 1,000.
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