Fiscalization
Pronunciation: /ˈfɪsˈkɑˈɫɪzˈætˈaɪˌɑn/
Fiscalization (noun)
- A process where businesses record sales in a way that helps tax authorities check and collect taxes.
- The introduction of official tools and rules that make cash sales data available for government control.
Examples
- Fiscalization records each tax transaction in the system.
- Each shop uses fiscalization to record tax system recording accurately.