A plan to connect cash registers to credit/debit card (POS) payment systems is in full swing, based on two principles: firstly, mandatory, since 400,000 businesses must connect their cash registers to POS by the end of July and, secondly, for subsidies as soon as funding vouchers start, for two cycles.

As he mentioned, during a press conference held today, Minister of Finance Christos Staikouras, after recent legislative measures to interconnect POS with AADEincludes a schedule for the following:

• Technical training for electronic tax mechanism (EFT) and POS manufacturers for software updates and AADE software approval.
• Mandatory relationship of 400,000 FIM to POS.
• Issuance of EP for the mandatory withdrawal of old mechanisms.
• Production of a new type of TEM by manufacturers.
• Submission of applications to the Information Society for the funding of connection vouchers within 2 cycles.

Specializing in the above activities, her commander Independent Government Revenue Authority (AADE)Giorgos Pitsilis, noted that by May, the technical preparation of the manufacturers of fiscal mechanisms and POS for updating the software, as well as the approval of this software by AADE, will be completed.

In doing so, the first application cycle for the Information Society (IS) for funding accession vouchers under the relevant program funded by the Recovery Fund will be open until 15 May, and the second cycle will be implemented until 30 June.

Connection must be completed by June 30 for companies with an annual turnover of 100,000 euros and by July 31 for companies with a turnover of more than 100,000 euros.

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Connecting cash registers to POS is expected to further reduce tax evasion. According to Deputy Finance Minister Apostolos Vesiropoulos, according to available data, in our country in 2022, 33% of transactions at points of sale of goods, products and services were made electronically.

The problem is that even with electronic payments, there are phenomena of tax evasion. “Experience and data analysis have shown us that there are known cases of circumvention of the Electronic Tax Mechanism, as well as cases of non-issuance of a receipt, in transactions in which payment is made by card at card acceptance terminals, known as POS,” said Mr. Vesiropoulos.

Source: moneyreview.gr