The Law of Ukraine
On Use of Payment Transactions Registers in the Sphere of Trade, Public Catering and Services
Date of Entry into Force:
January 1, 2001
The Law of Ukraine “On Use of Payment Transactions Registers in the Sphere of Trade, Public Catering and Services” (hereinafter referred to as “the Law”) defines legal grounds for using payment transactions registers in the sphere of trade, public catering and services.
According to the Law, payment transactions register is a device or a software-hardware set, which implements fiscal functions and which is designated for the registration of payment transactions during the sale of goods, transactions involving purchase and sale of foreign currency or registration of the number of goods that were sold. Payment transactions registers include: electronic cash register, computer-cash system, electronic taximeter, as well as vending machine and other similar devices.
The Law establishes some obligations of business entities that perform payment transactions in cash or non-cash forms during the sale of goods or provision of public catering services in the sphere of using electronic payment transactions registers, in particular:
- to perform payment transactions for the entire amount of purchase (service) through settlement transactions registers that are registered, sealed according to the established procedure and set to the fiscal mode with a print-out of relevant settlement documents confirming the performance of settlement transactions;
- to issue the person that receives or returns goods, receives or rejects services a settlement document of the established form for the entire amount of such transaction;
- to use only those payment transactions registers that are included into the State Register of Payment Transactions Registers;
- to ensure the integrity of seals of a payment transactions register and stability of its construction and software;
- to ensure that used books for tracking settlement transactions and pay books are stored for three years from the date when they used to the last page;
- to introduce into exploitation, perform technical servicing, repair payment transactions registers through servicing centers according to the established procedure;
- to provide buyers of goods upon their request with the receipt, invoice or other written document that confirms the transfer of the ownership right from the seller to the buyer.
According to the Law, authorized banks performing transactions on purchase and sale of foreign currency, as well as subjects of entrepreneurial activity that perform such transactions on the basis of agent agreements with the authorized banks shall:
- perform transactions on purchase and sale of foreign currency and change the currency exchange rate according to the procedure set forth by the National Bank of Ukraine;
- perform transaction on purchase and sale of foreign currency through payment transactions registers that are registered, sealed according to the established procedure and set to the fiscal mode with a print-out of two copies of settlement documents confirming the performance of these transactions;
- issue the person buying or selling foreign currency the first copy of settlement document for the entire amount of such transaction;
- ensure correspondence between cash and foreign currency at the place of performing the transaction on purchase and sale of foreign currency and the data of fiscal report.
If requirements of this Law are violated, subjects of entrepreneurial activity that perform settlement transactions for goods shall be subjected to measures of administrative influence according to the current legislation following the decision of relevant bodies of the State Tax Service of Ukraine.