In a bid to tackle persistent tax evasion within the catering industry, the Greek Ministry of Finance has implemented a series of measures requiring restaurants, cafes, taverns, and similar establishments to adopt new closed-circuit cash registers. Additionally, these establishments will be mandated to equip their delivery personnel with (EFT-POS) payment machines.
Novelties for cash registers and card payment systems in the Greek catering industry
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Greece
Author: Kristina Dosen
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Fiscal subject related
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178
Content accuracy validation date:
19.05.2023
Content accuracy validation time:
08:45h
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Despite previous efforts, tax evasion remains a pressing issue, with cunning individuals continuously devising new strategies to circumvent financial obligations. A common practice among some businesses is the failure to register tables and orders, allowing unreported income to slip through the cracks. Others resort to recording orders in computer files instead of cash registers, while some even exploit order forms that are subsequently canceled without being logged in the tax records. This manipulation allows business owners to collect payments, including VAT, without declaring the transaction to the Tax Administration.
To combat these deceptive tactics, the implementation of new closed-circuit cash registers will create a more transparent and accountable system. These registers are designed to securely record each transaction, making it considerably more difficult for establishments to conceal income. Moreover, the requirement for POS payment machines to be provided to delivery personnel is a crucial step in minimizing underreported earnings. This measure aims to ensure that all income generated from delivered orders is duly recorded, leaving no room for unreported revenue. By integrating POS systems into the delivery process, businesses can enhance financial transparency and mitigate the risk of tax evasion.
By interfacing the cash registers with the POS, the payment card acceptance terminals (EFT-POS) will not work autonomously for debit transactions. This means that in a card transaction, it will not be allowed to enter the payment amount by typing in the POS. The receipt for the amount will come out of the cash register.
Within the course of this summer, a total of 400,000 cash registers are expected to be interconnected to the POS payment systems. Of course, for some businesses with old cash registers and problematic mechanisms, the start will be delayed. Specifically, it is estimated that an additional 140,000 cash registers will be connected at the end of October or later. Ultimately, the introduction of new cash registers and POS systems represents a significant step forward in curbing tax evasion in the catering sector as well.
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