E-Invoicing recovers lost revenue

 29 July 2016

It is essential for many developping countries to increase their domestic revenue, hence the need for greater mobilization of revenue. The recent economic and financial crisis demonstrated the extreme weakness of the African economies, in particular that of the Republic of Guinea, and for many years now, we have noticed a drastic decline of the foreign aid coming from the Western world. For Guinea, it highlights the need to mobilize its own

The Guinean Republic could rely on bars, restaurants, hotels, dance halls and other recreational venues to boost a significant flow of funds. However, for some years now, the Guinean National Tourism Office has been having difficulties in carrying out tax collection on the services provided by leisure venues.

The E-Invoicing solution developed by Avatar Technologies could be of great value for Guinea, by helping the country to better regulate tax compliance in this sector. Avatar Technologies’ approach would optimize the tax collection and compliance, thus allowing the country to accumulate millions of dollars which could be used to finance its development projects.

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