- On
- By
- Categories: Economy
The economy and its changes not only in EET2018
The MIC announced that in the case of EET, the next phase will probably have to be postponed. What does this mean? When will the postponement take place, and who will be affected by the third stage of EET? What do we need to know and be prepared for?
EET has been in place for some time, with the first and second waves. Many checks have already been done. Some cafes, stores, and small restaurant owners have wanted to close; some did so before the first wave of EET, others did so under the regulations. In some cases, there have been price increases. Small businesses were most affected by the first wave of EETs because of their financial difficulties.
Will there be a third wave of EET in 2018?
The third wave of EET was originally scheduled to go into effect in March 2018. Currently, there have been delays and postponements so far. However, adequate information and preparation is needed. This phase will affect transportation, agriculture, and free trade. Then, in the fourth phase, the EET will target specific professions and manufacturing industries; new legal regulations will need to be introduced before the third phase of the EET comes into force. Overall, however, the law remains in force. Based on the judge\’s verdict, tax collection and leveling the business environment are legitimate objectives. And this is happening thanks to the EET.
The third wave of EET, or to whom does it apply?
This group includes mainly doctors, accountants, lawyers, cab drivers, and snack vendors with no clientele.
Changes to the EET Law!
First and foremost, registration is no longer required for non-cash payments and will be mandatory. There are also changes to receipts, but no taxpayer identification number. This is for protective reasons, as birth numbers were given to individuals, which violated their privacy at the very edge of the law. In addition, exceptions can no longer be expected from the government, for example, Christmas 2017. Potential exceptions always need to be regulated by law. Mere government regulation will never again be possible.
Will EET be rejected or unacceptable? What will happen?
As noted above, the principle of EET is to collect taxes and send the payments directly to the specific tax authority. Therefore, in order for this to be possible and feasible, all businesses must have a special cash register connected to the Internet. However, they would also need to ask the tax authority to authenticate their data and create an account for the EET application. This will cost a certain amount of money and is not free.
If an EET-affected entity fails to take these steps and is inspected, it can be fined up to SEK 500,000. But this is not the only penalty for noncompliance with respect to EET. Not only can the business be suspended, but the establishment can also be closed down.