New incentives for traceable payments for merchants in Italy

New incentives for traceable payments for merchants are appeared in Italy, no matter the fact that the cashback program has been suspended More precisely, there are two new bonuses for those who equip themselves with tools that allow traceable payments, and then the tax credit on the POS has also been enhanced. More details are as follows.

So-called “The Draghi Government's new counter” cash plan provides a double action:

 - the costs of payments by traceable means are eliminated

 - the use of the POS is encouraged

The bonuses provided for by the Tax and Labor decree are three:

 - the so-called POS bonus to recover electronic transaction fees is increased from 30 to 100%

 - a tax credit, a maximum ceiling of 160 euros recognized from 70% to 10% based on revenues and fees, to those who purchase or rent the POS until 30 June 2022

 - from 2022 another tax credit, with a ceiling of 320 euros and percentages ranging from 100% to 40% based on revenues or fees, is intended for those who install means of storing and preserving the fees

The goal of these initiatives is not only to concern the recovery of commissions but also to encourage the usage of the POS so that merchants have a return through credit.

Italy announced that the Tax and Labor Decree has put the measure of the Cashback program on “stand-by” until the end of 2021. The receipt lottery remains, with prizes for both merchants and customers.