Starting on 1 July 2016, the Slovak Republic Financial Directorate has increased the number of receipts VCR users can issue. Where previously only a maximum 1,000 receipts could be issued a month, the limit was raised on 1 July to 3,000 receipts monthly. This new, more advantageous threshold for issued receipts also applies to new VCR users.
Virtual cash registers are available for use at no charge. VCRs are designed for anyone whose business has been required since 1 April 2015 to use a cash register. To use a VCR, it is necessary to register at a tax office and be assigned a VCR code. This is especially an advantage for newcomers and entrepreneurs who should not have to purchase a classic cash register, but instead can use a VCR. Virtual cash registers operate on electrical devices connected to the Internet, such as computers, notebooks, tablets and even smartphones. There must be a printer attached to a terminal unit to print documents and closing statements. Entrepreneurs will be required to use an electronic cash register if they issue more than the 3,000 receipts a month allowed with a virtual cash register.
A VCR is so simple to set up that entrepreneurs opting to use one will find that it relieves them of some administrative burdens. For example, entrepreneurs have no obligation to sign a contract with a service organization, keep a VCR book or prepare daily statements.
