|15 JAN 2014
M.POS Sets to Optimize its M.TAX Solution with More Resource and R&D Efforts
|M.POS, provided with its successes in the banking, telecommunication and VAS sectors, sets to optimize the company’s resource with emphasis on its proprietary Value-added Tax (VAT) system and implementation.
By participating additional resource and R&D efforts into M.Tax Raffle solution, it is expected to elevate a cutting edge VAT collection, administration and monitoring system integrated with innovative raffle or lottery features. M.POS also utilizes its strong hardware R&D capability, to engage in product diversification and evolution, including POS terminals, cash registers and peripherals to accommodate different size and nature of merchants in field.
Playing as a potential vendor for supply, installation, integration and operation support in VAT solution, M.POS aims to offer a world-class implementation to the Revenue Department or Ministry of Finance of different Governments.
“M.Tax Raffle is designed to cater the needs of government to curb VAT evasion which is an important source of government income. We see the market potential and need of a good M.Tax Raffle Solution. Identify from the conventional tax collection system vendors, the full spectrum of M.Gate VAS professional add-ons is expected to allow our clients to better manage multiple applications, acquirers, operators, third parties’ payment and non-payment transactions over various phases of business expansion”, said Gary Cheung, CEO of M.POS Group.
As revealed, the tax raffle concept has been utilized by national government with successes in Mainland China, Taiwan, Malta, Slovakia and etc to control tax evasion and increase VAT tax revenue for the government. In Taiwan, tax raffle has been introduced since 1951 to encourage local residents to obtain receipt for every purchase. The Finance Ministry of Taiwan collected NT$51 million (US$1.6 million) during that year, accounting for a 75% growth compared to the NT$29 million (US$900,000) collected in 1950.
About M.POS (
M.POS is the world's pioneer in mobile POS terminal and payment solution. M.POS is accredited to the ISO9001:2008 standard and with its system awarded with ISO/IEC27001:2005 certification. M.POS focus on R&D, manufacturing, distribution and operation, in order to deliver top quality, highly secure and reliable electronic payment solutions and mobile-commerce products to the banking, telecommunications and other industries in local and worldwide market.