BUSINESS

Card use is contributing to revenue rise, and there’s scope for more growth

EVGENIA TZORTZI

TAGS: Finance, Banking

The compulsory installment of card terminals by businesses and the association of the income tax discount with payments by credit or debit cards have led to a considerable increase in tax revenues.

According to a study by the Foundation for Economic and Industrial Research (IOBE), the increase in value-added tax revenues last year came to at least one-third thanks to the rise in electronic transactions.

The study added that if card use in Greece were to rise to the European Union average, its contribution to state revenues would amount to 3.3 billion euros per annum – i.e. more than what the Single Property Tax (ENFIA) fetches.

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