Gov’t serious about POS use
Hefty fines on till and terminal suppliers who fail to upgrade their software by end of February
Severe penalties and fines will be imposed on companies that sell cash registers and POS terminals that do not upgrade their software by February 29, the day the deadline expires for businesses to interface POS with cash registers.
In the coming days, the relevant amendment will be submitted to Parliament by Minister of National Economy and Finance Kostis Hatzidakis. According to government sources, the sanctions will be tough as some appear to be obstructing the upgrade of the software with the aim of postponing the implementation of the measure of interconnection of cash registers with POS, and some others are operating with another extension in mind.
The same sources note that this upgrade of the software of the companies providing cash registers and POS is deemed necessary in order to successfully complete the interconnection of the cash registers with the POS of all businesses. At the same time, it is only a matter of time before the fines are announced for businesses that must connect their POS with their cash registers by February 29.
The ministry emphasizes it will not back down from the implementation of this emblematic reform, as in addition to contributing to the fight against tax evasion, it is also a project included in the Recovery Fund and its non-implementation will lead to a loss of community resources. The interconnection project is about to be completed and everyone must assume their responsibilities in time, the ministry notes.
In September 2023 the POS registry was established and the first transmission of data by providers was completed. In October, all relevant decisions regarding the timetable and interconnection process were issued. November saw the deadline to submit a statement to the POS registry (1,032,000 POS registered) covering active POS until end-September, while throughout December and January providers had time to comply with the rules of the new declaration and operation framework of both wired and wireless POS.
