Fiscal Data Operator
Enable real-time control of retail transactions and combat the shadow economy.
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How does the widespread use of cash fuel the shadow economy?
While the number of people who primarily use digital payment methods continues to grow, cash remains the chosen option for billions of people around the world. Despite the convenience it may offer, cash is the source of great risks for governments, businesses, and consumers, such as support of illicit financial flows, counterfeiting, and global tax abuse.
is the estimated global VAT Gap (USAID)
was the overall EU VAT Gap in 2021 (EU Commission)
Cash register maintenance puts a burden on tax authorities
traceCORE FDO helps tax authorities save time and effort in cash register audit and maintenance by automating secure fiscal data transfer and allowing online registration of cash registers.
Traditional tax administration offers very few analytical tools
Tax authorities and business owners can benefit greatly from using the traceCORE FDO as it offers various analytical tools that help evaluate market dynamics, store statistics, and the average bill.
Using only paper receipts can become inconvenient and costly
Implementing traceCORE FDO makes it possible for consumers to receive electronic receipts via email and SMS, which is way more convenient and cost-effective than printing receipts.
How does traceCORE help?
A reliable FDO solution that will collect, process, protect, and store fiscal data and securely transfer it to tax authorities is crucial to any business, regardless of the chosen cash register type. That’s what traceCORE Fiscal Data Operator is for.
Helps adopt electronic document flow
Offers more transparency
Makes Big Data analytics possible
Improves tax collection
Makes data collection more efficient
Allows online registration
What is traceCORE Fiscal Data Operator?
- traceCORE FDO helps tax authorities receive information regarding goods sold and services provided by businesses in real time.
- The system performs independent and permanent reception, processing, cryptographic protection and storage of accepted fiscal data online.
- It integrates with tax administration systems and provides opportunities for analytics, forecasting and decision-making based on fiscal data.
- traceCORE FDO allows implementing online fiscalization — a significant step towards modernizing the tax system and reducing the shadow economy.
Role of traceCORE Fiscal Data Operator
- The Fiscal Data Operator by traceCORE plays a pivotal role in ensuring the reliability, security, and accessibility of fiscal information.
- By integrating modern technologies and approaches, the online fiscalization system effectively administers taxes, enhancing transparency and trust among businesses and citizens.
- traceCORE FDO allows business owners to register cash registers online, set tax regimes and other vital parameters. The system will collect, process, and store sales data, providing tax authorities with up-to-date financial information.
- Analyzing fiscal data to calculate taxable income simplifies tax administration and reduces errors.
Key features
Online registration
Cash registers can be registered online without submitting them or visiting the tax office in person.
Data analysis
Preliminary data analysis to detect anomalies and violations, enabling prompt action by tax authorities.
Security assurance
The use of advanced cryptographic technologies to protect data from unauthorized access and alterations.
Seamless system integration
Easy integration of online fiscalization with popular e-commerce and financial platforms.
Data reception and storage
Secure receipt and storage of fiscal data from cash registers while maintaining its integrity and availability for tax authorities.
Support for various cash registers
Support for traditional and modern cash register solutions, such as software-based registers for desktop and mobile.
A win-win solution for all stakeholders
Taking action to eliminate the shadow economy helps increase government revenue and improve tax compliance, allows businesses to develop quicker, and protects consumers.
- Access to sales data, including accrued taxes, in real time.
- Convenient cash and non-cash transaction monitoring,
- Implementation of an automatic risk assessment system.
- Enhanced visibility of tax procedures.
- Decrease in the need for tax audits.
- Increased tax revenues from retail sales.
- The use of data analytics, machine learning, and AI for tax reports and fraud detection.
- Direct feedback from citizens and more opportunities for the implementation of new digital technologies.
- Legalization of shadow operations creates a level playing field.
- Functional service and mobile app for analytics and sales management.
- Simplified registration of cash registers using an FDO client’s personal account.
- Significantly less time is spent on reports and paperwork.
- The option to send receipts to customers by email and SMS.
- Digitalization of retail sales provides valuable business insights.
- Online fiscalization enhances transparency and trust among businesses and citizens.
- If a business uses online cash registers, consumers can receive e-invoices (digital receipts) via email and SMS, keep track of their purchases and analyze expenses.
- Loyalty service providers, brands, retailers, banks and even tax authorities often offer cashback, discounts and bonuses.
Why choose traceCORE?
Active support for business owners
We train, support and consult business owners regarding registering and working with their cash registers online and help reduce the tax burden.
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Constant product improvements
We put great effort into constantly improving analytics, forecasting and decision-making capabilities based on fiscal data.
Close partnership with stakeholders
We provide aggregated, anonymized fiscal data for stakeholders and ensure that all parties involved can benefit from using our product.
User-friendly and scalable solution
We offer flexible technologies that are easily scaled, exported, and tailored to the needs of various tax authorities worldwide.