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Nicosia
Wednesday, February 1, 2023

The obligation of companies to accept means of payment by card reminds the Tax Department

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The obligation to accept card payment methods upon completion of payment transactions is reminded by the Tax Department in its announcement today.

As mentioned, this This obligation is based on Article 30A of the Law on Certification and Collection of Taxes and concerns companies listed in the appendix of the Certification and Collection of Taxes (Details of the Implementation of the Obligation to Accept Payment by Card) of Decree 209/KD 25 >

It is noted that refusing to accept payment by card or setting a minimum transaction amount for accepting the card or accepting a card for transactions of certain products, constitutes a violation of the provisions of the Decree, which entails an administrative fine up to and four thousand euros (€ 4,000) under Article 50F of the Law on Certification and Collection of Taxes.

Source: KYPE

Source: politis.com.cy

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