in-cyprus 19 August 2021 - by Annie Charalambous
Many are those rushing to get a credit card machine now that numerous sectors performing economic activity in Cyprus are legally obliged to introduce card payment by September 18.
This is what Philenews reported on Thursday, adding that the Cyprus Official Government Gazette published the Decree on Confirmation and Collection of Taxes on June 18.
According to this, industries including the retail merchant services, entertainment and hospitality, education, legal, financial, medical services, gambling and many more are not only legally obliged to introduce credit card machines to their businesses.
They are also obliged to notify clients that they accept both payment via cash and credit card from September 18 this year.
The law provides that disobedient businesses in the sectors where the law places such requirement will be subject to legal fines of up to €2,000.
And that the Cyprus Tax Department is the appropriate body to decide upon those penalties.
