Countdown to the summer salessince they are completed in just a few days.
A few days left until the end of the summer sale period, which started on July 10 and will end on August 31, as it has already completed a little more than a month in terms of its duration.
It is recalled that the Hellenic Confederation of Trade & Entrepreneurship (ESEE) has announced that:
“According to paragraph 2a of article 15 of Law 4177/2013, as amended by Law 5039/2023, in each price reduction announcement the previous price applied by the trader for a specified period of time before the price reduction was applied is indicated .
A price reduction announcement, according to chapter 2 paragraph 8 of the new Code of Ethics on price reduction announcements (YA 35935/13-4-2023), is any announcement by the entrepreneur that he has reduced the price of a product with the following form:
- Either percentage (%), e.g. “20% discount”.
- Either a specific amount, e.g. “10 euro discount”.
- Either listing a new (lower) price along with listing the previous (higher) price applied. The previous value can be displayed in a deleted form e.g. “now 50 euros, before 100 euros” or “50 euros 100 euros”.
Previous price means the lowest price applied by the merchant during the 30-day period before the price reduction was applied. When the product has been on the market for less than 30 days, the previous price is the lowest price applied by the trader during the time the product has been on the market. Where the price is progressively reduced during the 30 days prior to the application of the price reduction, the previous price shall mean the price in effect prior to the application of the first of the successive price reductions.
Particular attention must be paid to complying with the provisions on rebates and reduced prices, as the penalties are heavy. Specifically, according to article 21 of Law 4177/2013, those who violate the law are subject to a fine of an amount equal to 1% of the annual turnover and in any case not lower than 10,000 euros.
In the aggravating case where the discounts are proven to be inaccurate or misleading, a fine is imposed equal to 2% of the annual turnover and in any case not less than 20,000 euros”.
Source: ertnews.gr
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