POS

From today April 1 people will pay higher tolls on Egnatia Motorway, businesses without POS machines will be fined, and Greece transitions into the summer "quiet hours" schedule

The measure impacts 110,000 businesses and professionals ranging from taxis and vendors at farmers' markets

The request comes as virtually all Greek businesses are now mandated to install POS devices and business owners, particularly those selling low-cost products, complain that commissions eat up their profit margins

Fines may reach as high as 300,000 euros, according to a proposed amendment of the existing law which mandates the use of POS machines by businesses and their integration with cash registers

From March 1st, if all goes as planned, the keyboards of POS systems will be "locked." This implies that Electronic Funds Transfer (EFT) POS terminals will no longer operate independently for debit transactions

A short period of grace will be given to sellers in order to avoid the 1500 euro fine

The contentious tax bill requiring freelancers and other trades to accept payments via POS and online bank transfers aims to combat tax evasion and was passed early December

The Expanded List to be Issued by the End of the Month