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Thursday, October 21, 2021

It is mandatory to accept cards from companies

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philenews / KYPE

The obligation of companies operating in the service sector and retail trade, to accept payment by card, and to inform consumers in a clear manner, was approved today by the Council of Ministers, following a decree of the Ministry of Finance.

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An announcement from the Ministry of Finance states that this measure helps fight tax evasion, safeguard public revenues, strengthen citizen protection as well as facilitate the service of citizens.

Businesses are required to comply within three months from the date of publication of the Decree.

In the case of start-ups, during the last thirty days before the expiry of the three-month period, they must comply within four months of the publication of the Decree, while companies that will start operating or change after the expiration of the deadline. three months, they must comply within one month of the start or change of their activities.

Exempted from the obligation to accept card payments, companies operating in the fields of manufacturing, electricity, water, transportation, and information and communication (publishing, film production, broadcasting, computer programmers).

Source: www.philenews.com

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