When a point of sale software is purchased, one needs to ensure that this is compliant with the Maltese Value Added Tax (VAT) legislation and that it is pre-approved by the VAT Department of Malta. This is referred to as the EXO Certification process, through which the point of sale system is tested against fraud and is finally certified as a fiscal system.
When a client purchases a point of sale software which is not already approved by the VAT Department, the client may engage our services to carry out a system audit on the system prior to certification is carried out.
After a system audit is carried out by our specialized people, a report of the findings is compiled and submitted to the VAT Department. This report indicates whether the system complies with the VAT legislation. On the basis of this report the VAT Department issues the EXO Certificate, which would contain the EXO number of the client’s system. Through this certification, the client would spare issuing fiscal receipts, since these would be generated from the Point of Sale system itself. The system has the functionality compatible with a fiscal system and would ensure that the IT system has the necessary applications and security controls.
We endeavour to, with the assistance of the IT specialist, test the control IT environment, the application controls and also the security controls that will be implemented. Specific attention is also applied to the functionality of the system and we ensure at all times that the system adheres to the requirements of the VAT legislation.