Filenews 25 September 2021 - by Adamos Adamou
The time credit given by the Department of Taxation to businesses to place a special terminal - credit card acceptance machine - is over. In October, taxmakers are expected to raid businesses to see if they have complied with the law and accept payments, both by credit cards (if the customer so wishes) and by cash.
Also, the checks that will be carried out next month are also to confirm the implementation of the decree issued last summer by the finance minister. If it is found that businesses do not accept credit cards or do not have the equipment for this purpose, they will face a fine of €2,000. In the event that the infringer fails to pay the fine, then the Tax Department may take legal action against him/her and collect the amount due as a civil debt, due to the Republic.
Complainants may submit an objection to the Tax Department within 30 days. The decision on the objection is issued within one month, while the decision on the objection is subject to appeal before the Administrative Court. It is worth mentioning that the administrative fine is reduced in half when the offender pays the fine or submits to the Tax Department an invoice proving the purchase of a payment card acceptance terminal and means of payment within 30 days. A competent source told "F" that the controls will be regular and will be intensified in the coming months.
Businesses should clearly inform consumers that they accept credit card payments. Specifically, they should post signs at the entrance of their businesses and at the cashiers, indicating how credit card payments are accepted.
The Department of Taxation in yesterday's announcement mentions the obligations that businesses have that fall under the 85 economic activities that must accept credit cards. It clarifies, among other things, that "for businesses that have been active during the last thirty (30) days prior to the expiry of the compliance deadline, the application of the Decree is extended until 18/10/2021". These are the new businesses, which began their work in the summer. In conclusion, he stresses that businesses that become liable for accepting means of payment with cards, after the implementation of the decree (i.e. after 18/9/2021), must comply within one month from the date on which they become "liable".
