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Tag Archives: POS

Commission for POS transactions to be reduced; cap on bank commissions

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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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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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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