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Safari checks in the market for acceptance of cards

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Safari checks in the market for acceptance of cards

The Department of Taxation intends to carry out checks in October to confirm the implementation of the decree on the obligation of certain categories of companies to accept means of payment by card. In case of violation of the provisions of the decree, an administrative fine of up to € 2,000 is imposed.

Existing companies must comply with the decree by 18/9/2021.

For companies that were active during the last thirty (30) days before the expiration of the compliance deadline, the implementation of the decree is extended until 18/10/2021.

Businesses that become “Obliged” to accept card payment methods, after the implementation of the Decree (after 18/9/2021), must comply within one month from the date on which they become “Obliged”.

Businesses that are required to accept card payments must inform consumers in a clear, non-misleading manner by posting relevant information at the entrance of the premises and at the cash registers.

Source: politis.com.cy

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