Bulawayo company introduces software to enhance tax compliance and reduce business costs
Sikhulekelani Moyo, [email protected]
A Bulawayo-based information communication technology company, Soft-IT, has introduced a virtual electronic signature device, Snappy Fz, designed to produce a quick-response (QR) code on invoices to promote tax compliance by making it easy to verify the authenticity of invoices.
The software was developed to ensure compliance with the Zimbabwe Revenue Authority (Zimra) Public Notice 26 issued on April 5, 2024. The notice mandates businesses and taxpayers to onboard the Fiscalisation Device Management System (FDMS).
According to Zimra, fiscalisation refers to configuring fiscal devices to enable them to record sales and other tax information on the read-only fiscal memory at the time of sale for use by Zimra in Value-Added Tax administration.
Snappy Fz was one of the first server-to-server solutions released on the market in July 2024 and approved by Zimra. In an interview, Soft-IT chief executive officer Mr Kalala Kensela said Snappy Fz fiscalises all Zimra-required receipts, including sales invoices, credit notes and debit notes.
“Operating as an online tax management system, Snappy Fz works both online and offline. All processes are conducted offline, requiring only a brief internet connection to submit receipts to Zimra. Before submission, Snappy Fz performs over 100 validity checks offline to ensure the submitted document will be accepted and flagged ‘VALID’ by Zimra,” said Mr Kensela.
He also said that the software provides toast notifications on various aspects such as internet connectivity, FDMS gateway server availability, fiscal days sequence, fiscal day status and receipt numbering.
A standout feature of Snappy Fz is its ability to generate real-time QR codes for fiscal documents, a requirement by Zimra for taxpayer transactions and payments.
This feature allows taxpayers to verify the validity of their invoices by scanning the QR code, ensuring transparency and enabling them to report discrepancies or claim refunds if necessary.
“Installation of the software and technical support can be performed online, eliminating the need for physical presence at the client’s premises,” said Mr Kensela.
He said remote clients, including taxpayers outside Bulawayo, can be onboarded to Zimra FDMS within 24 hours.
Snappy Fz aligns with the Government’s call to enhance electronic commerce as the world goes digital.
This also reduces the cost of doing business as companies reduce the use of hardware equipment that requires significant space.
The virtual ESD allows businesses to issue invoices anywhere, needing only a laptop or tablet as opposed to a full kit of hardware.
“The price is affordable, almost one-third of what is spent on hardware electronic signature devices,” said Mr Kensela.
– @SikhulekelaniM1.
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