The commission charged for ‘small retail’ transactions via POS terminals is to be halved by an amendment added to the draft bill by the national economy and finance ministry. The highest clearance commission for transactions of up to 10 euros will not exceed 0.5% of the transaction under the bill, …
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1+1 month extension for cash register-integrated POS terminals
Greece’s Finance Ministry and the Public Revenue authority (AADE) announced an extension of 1+1 months for businesses to integrate their POS terminals with cash registers, so that it can be completed without technical problems. The decision announced on Thursday was taken following the demands of POS and cash register suppliers, …
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Mandatory POS in farmers’ markets may lead to price increases
The implementation of Point of Sale (POS) machines for credit and debit card transactions in farmer’s markets will begin on Tuesday, January 2, 2024, the Panhellenic Federation of Professional Sellers of Farmer’s Markets announced Saturday. This marks a new era for farmer’s markets, obligating the universal use of POS machines …
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Greece to take another step against notorious tax evasion
Greece’s Independent Public Revenues Authority, AADE, will tighten its fight against the notorious tax evasion and will expand the use of electronic payments through POS to more professionals. AADE has reportedly assumed a series of initiatives which start to unveil one after the other which significantly limit the action space …
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Golden Visa properties in Greece may be purchased per credit or debit card
An amend bill tabled by Development and Investment Minister, Adonis Georgiadis, allows investors who buy real estate in order to secure residence permit via the Golden Visa program to make their purchases via credit card or POS. The bill is to be voted today, Thursday, at the Greek Palriament. The …
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Golden Visa: Authorities in Greece and China investigate illegal POS transactions
Greek and Chinese authorities investigate illegal payment transactions between a Greek real estate company and Chinese investors who have been targeting residence permission in an EU country via the Golden Visa program. According to Greek media reports on Wednesday, the vice chairman of Greece’s biggest retailer “Jumbo” is investigated for …
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Greek consumers face problems in payments with plastic money or ATM withdrawals
Greeks and tourists experienced a problem over the pre-Christmas days: the system for payments with debits and credit cards or withdraw money form the ATM seems to have been blocked due to the high demand The problem started a few days ago reaching its peak on Saturday and Sunday, December …
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Greek businessman agrees to POS only if he gets share from bank revenues
An entrepreneur in Kalamata submitted an extrajudicial statement to his local tax office, saying he would agree to install a POS device in his business only if he earns a share from the bank revenues. The statement was filed just hours before the finance ministry deadline for the mandatory installation …
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Germany to give know-how to Greece to combat tax evasion in cash registers
Finance ministry officials are considering the mandatory installment of an application in cash registers across the country that will cancel transactions, a measure ostensibly aimed at reducing the still “Olympus-sized” mountain of tax evasion in Greece. According to reports, the relevant deputy finance minister was in the German federated state …
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24 arrests: POS devices legal around the world are illegal in Greece
In a joint operation the General Secretariat of Public Revenues, the Financial Department of Greek police and the Bank of Greece cracked down a network of suppliers of secure payment terminals (POS), offshore companies and businessmen who were using POS devices illegally thus bypassing capital controls and committing tax evasion. …
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Greece desperately tries to combat tax evasion but with such over-taxation… no chance!
Companies systematically evading taxes will soon see a padlock on their doors for 30 days. This new kind of fine to Greece’s tax evaders was announced today by the General Secretary of Public Revenues. The same fine will be imposed to company owners who prohibit tax inspectors from conducting inspections …
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Greek banks charge higher commission for cards payments than in other EU countries
The Greek government wants to boost the use of plastic money as a means to combat tax evasion. But the banks do not share the government enthusiasm and keep their charging rates high. A vendor, a restaurant owner or a lawyer has to pay 3% or even higher commission to …
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