Quebec rakes it in with new restaurant register rule

Revenu Québec is more than pleased with the results since it made sales recording modules (SRMs) mandatory a year ago as part of its efforts to combat tax evasion in the restaurant sector. Begun on November 1, 2011, this initiative has boosted self-assessed revenues by $160 million in just one year and has considerably reduced the impact of unfair competition on law-abiding restaurant operators.As of Nov. 1, 2011, all restaurant operators subject to this measure have been required to use an SRM to produce the bills they are obliged to issue to their customers. To date, nearly 33,000 SRMs have been installed in more than 19,000 restaurant establishments in Québec. Restaurant operators that fail to comply are liable to fines ranging from $2,000 to $100,000. Revenu Québec’s goal is to reduce revenue losses in the restaurant sector, estimated at $420 million for 2008-2009. Thanks to these efforts, the Québec government expects to recover more than $2.3 billion in additional revenues by 2018-2019, representing more than $300 million annually.Read the entire story Friday in The Record