Filenews 12 February 2026 - by Eleftheria Paizanou
The tax reform has not only brought about fluctuations in tax rates, deductions and the removal of distortions, but also a significant increase in financial penalties. "F" codified the basic changes that came into force from January 1.
As mentioned competently, the aim is to update the fines to more dissuasive levels.
In detail, the main differences are as follows:
– The administrative fine for violating the provisions of the decree concerning the acceptance of means of payment by card was increased to €6,000. Businesses that do not accept credit card payments are now subject to this fine. Previously, the administrative fine amounted to €4,000, while during the initial implementation of the legislation it was €2,000. The measure of mandatory acceptance of credit cards in retail premises, service businesses, catering and recreation areas, as well as in other service areas, has been implemented since Autumn 2021. It is part of the efforts to combat tax evasion, safeguard public revenues and facilitate consumers.
– Financial penalties are increased in case of refusal or omission to submit a declaration, statement or information, as well as in case of violation of another duty imposed by the Law on Assessment and Collection. For each day that the violation continues, the fine is now set at €20 from €17. At the same time, the fine for unjustified omission of income from a tax return is increased to €5,000, compared to €2,000 previously. Failure to comply with cabinet regulations for the issuance of invoices and receipts is now punishable by a fine of €5,000, compared to €450 in the past.
– The charges for natural persons, small companies (with a turnover of less than €1 million) and large legal entities, in case of non-submission of a declaration or information or breach of duty within the specified deadline, are set at €150, €250 and €500 respectively.
– The financial burden for natural persons, small businesses and large companies increases in case of non-compliance within the specified deadline set by the Tax Commissioner. The same applies when the obligation concerns another person. The charges are €300, €500 and €1,000 respectively. In cases where the Tax Inspector, by public announcement, extends the deadline for submitting a tax return (either until July 31 or January 31) and the taxpayer submits the return and self-taxation within the extended deadline, no financial charge is imposed for late submission or late payment of self-taxation.
– In case of sealing of premises by the Tax Department, due to non-issuance of legal receipts or the existence of tax debts, a person who violates the sealing commits a criminal offense and is subject to a fine of up to €30,000 and/or imprisonment of up to two years.
– Executive Director, members of the Board of Directors or any other official exercising the duties of financial direction bears criminal liability in the event of failure to pay tax.
– A person who refuses, fails or neglects to pay an extraordinary contribution for the defence, in the event of a first conviction, is subject to a fine of up to €5,000 (compared to €500 previously), while an additional amount of up to twice the contribution due is paid. In the event of a second conviction, the fine is up to €100,000 (compared to €600), imprisonment of up to two years (compared to six months) and a quadrupling of the contribution due. For violation or non-compliance with any provision of the law, a fine of €1,000 (compared to €500) is provided.
– The fine for a person who commits an offence in relation to the supply or other financial benefit for the purchase of objects for defence purposes is increased to €30,000. The fine can reach up to €100,000 if a person who holds public office or is in the service of the Republic is involved.
