From 2023, smFrom 2023, small stores, which have a turnover of over the threshold of 10,000 euros per year, will be obliged to introduce POS for card payments (i.e. to be able to accept card payments), according to a Draft Ordinance put into public debate by the Ministry of Finance.
Small stores in Romania will be obligated to enable POS for card payments
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Romania
Author: Kristina Dosen
Category:
Fiscal subject related
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1633
Content accuracy validation date:
27.07.2022
Content accuracy validation time:
09:09h
Government Emergency Ordinance no. 193/2002 on the introduction of modern payment systems will also apply to stores and companies that offer different services if their turnover exceeds the threshold of 10,000 euros per year.
Initially, the legislator regulated a turnover threshold of 10,000 euros, in lei equivalent, starting with which economic operators had the obligation to make available to customers the possibility to pay by card, but by Law no. 191/2018 for the amendment of the Government Emergency Ordinance no. 193/2002, this threshold was increased to 50,000 euros in lei equivalent, given that the obligation was in force from January 1st, 2017, the measure being, at the date of amendment of the law, already implemented.
The new Draft normative act proposes to regulate the modification of the turnover threshold, from 50,000 euros to 10,000 euros in lei equivalent, starting with which legal entities that carry out retail and wholesale activities, as well as those that carry out activities of providing services, have the obligation to accept as a means of payment debit cards, credit or prepaid.
In order to allow the economic operators from the category of those targeted by the above-mentioned provisions to take all the necessary steps to install the payment terminals, including the conclusion of the related contracts with the acquiring institutions, it was stipulated that the measure of the lower threshold will enter into force on January 1, 2023.
In order to be applied, the Draft must first be promulgated by the President and published in the Official Gazette.
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