The Greek government is taking additional security measures against tax evasion. After the receipts are not issued, the focus is now also on all transactions carried out with cash.
However, businesses and freelancers should also take their own measures in order to prepare in time and avoid surprises at the beginning of 2024, when most of the new measures will come into effect.
Greece tightens security measures against tax evasion for cash transactions.
Public
Greece
Author: Kristina Dosen
Category:
Fiscal subject related
Views:
2249
Content accuracy validation date:
25.09.2023
Content accuracy validation time:
08:52h
According to what the Prime Minister described in his announcements from the TIF, with the changes brought by the tax bill submitted to Parliament in October by the Ministry of National Economy and Finance:
- Accepting cash over 500 euros is not allowed in transactions between customers and businesses. The ban is already in place, but the €100 fine per violation was deemed not to be a deterrent. From now on, anyone who accepts a payment of more than 500 euros in cash instead of through a bank will pay a fine double what they received! That is, for example, 2,000 euros if he collected 1,000 (or much more for larger amounts) based on what the Prime Minister announced.
- All professionals and businesses, without exception, regardless of the KAD they have declared to the Tax Office, will install a POS to accept card payments, as long as they accept retail customers.
- Similarly, for those who do not even carry out retail transactions, all b2b (business-to-business) professional transaction expenses, without exception, must be declared electronically in MyDATA. Anything not declared will not be recognized as an expense to be deducted from the year's profits. It will be taxed as profit, and the business will pay 9% to 44% as a natural person (traders, farmers, and professionals) or 22% for companies (legal entities).
- All cash registers (FIM) will be connected and will work automatically with POS card terminals so that no receipt is "lost" when paying by card.
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