e-Core - Electronic Collection of Tax Revenues & Payments
Difficulties in increasing Goverment tax and non-tax revenue are typically due to a lack of appropriate software and hardware solutions for monitoring and enforcement of the same, non-submission of tax returns and the refusal of the public to demand receipts. For instance, only 10-25% of all formal & informal businesses in sub-Saharan Africa pay VAT. In addition to educating citizens and simplifying the tax system, a solution needs to provide an innovative and easy transaction process as well as payment points, while significantly improving the monitoring and enforcement of revenue collection.
Aya E-Core provides an integrated online system that facilitates the real time reporting of transactions as they occur at the point of sale. Electronically generated receipts are printed after transaction details have been transmitted to a central database. At the same time monthly returns are completed electronically an real-time reports are created for all stakeholders.
Difficulties in increasing Goverment tax and non-tax revenue are typically due to a lack of appropriate software and hardware solutions for monitoring and enforcement of the same, non-submission of tax returns and the refusal of the public to demand receipts. For instance, only 10-25% of all formal & informal businesses in sub-Saharan Africa pay VAT. In addition to educating citizens and simplifying the tax system, a solution needs to provide an innovative and easy transaction process as well as payment points, while significantly improving the monitoring and enforcement of revenue collection.
Aya E-Core provides an integrated online system that facilitates the real time reporting of transactions as they occur at the point of sale. Electronically generated receipts are printed after transaction details have been transmitted to a central database. At the same time monthly returns are completed electronically an real-time reports are created for all stakeholders.
Aya has developed a real time Solution that:
The Solution drastically enhances:
User Groups include:
- For Governments: Provides a closed system to significantly improve administration, monitoring, auditing & enforcement
- For the traders: Provides a transparent view of the tax system by providing updated schedules of payments, amounts owed, dates due & other relevant payment information
- Increases the overall payer base through an easy and simple installation of payment terminals
- Facilitates easier payment of tax by increasing the number of payment points through the introduction of payment partners, such as banks and other financial institution.
The Solution drastically enhances:
- Statistical information gathering to aid the formulation of policy/identification of trends
- Regulatory monitoring of all tax registered entities
- Timeliness of reporting both to tax authority and other regulatory bodies
- Reduction of overhead/administration cost
- Control of defaulting/fraudulent traders and non-filers
- Authority can identify irregular behaviors (revenue dip/increases) via a wide range of reports
User Groups include:
- Government authority – transactions, monthly returns, payments, reports, trends
- Accountant General/Regulation – statistics, trends
