1,000€ fine for stores without sign on e-transactions; list with occupations requiring POS terminal pending

1 February 2017
945 Views

A newly passed legal provision obliges store owners to place a sign in a visible location near their cash registers in order to inform consumers whether or not they are equipped with a terminal (POS) to handle electronic transactions.

Failure to post the sign could result in a fine of up to 1,000 euros.

The provision is of a series of measures announced by the finance ministry in order to combat systemic tax and VAT avoidance in the country.

An upcoming measure, expected to have an even greater impact on efforts to combat evasion, is a list compiled by the finance ministry that will describe the occupations and service categories that must install a POS terminal — including wireless devices — and offer electronic transactions to consumers.

The measure is aimed at craftsmen (plumbers, electricians, painters) as well as more white-collar service providers, such as physicians, civil engineers and attorneys.

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