The New Way To Collect Taxes
25 April 2016
Tax fraud and evasion are very real issues in African countries.
Technology platforms such as the Avatar Electronic Fiscal Device (EFD) enable African countries to collect taxes electronically. Traders are equipped with electronic sales recording devices as all tax calculations are automated, which reduces the possibility of tax fraud or evasion.
The reduction of tax fraud in Africa will increase government’s incomes and generate a financial surplus for African counties. This surplus can help fund development projects in the countries.