POS mandatory for 35 industries from January 1 – Heavy fines for violators, who is exempt – 2024-08-03 22:04:41

Obliged from January 1st to procure and install POSalthough until recently excluded, are dozens of professional branches.

The specific obligation is determined based on the Activity Code Number (KAD) and in fact there is no separation as to whether it has been declared as a main or secondary activity. Nevertheless, there are also those professionals who “spare” it even if the KAD they have chosen is included in the relevant list.

Since January 1, even 35 business sectors are obliged to procure POS and to accept both card payments (debit and credit), as well as direct payment services by transferring money between bank accounts, such as the IRIS online payments service.

Who are excluded from POS?

Here, regarding the extension to other professional branches of the obligation to supply and use POS, two parameters should be highlighted:

The determination of the liable parties is based on the four-digit Activity Code Number (KAD), as derived from the National Nomenclature of Economic Activities, and is not related to the main activity of the business declared to the tax authorities. Therefore, every payee who has a KAD, who is included in the list and has declared it either as a main or a secondary activity, is deemed liable and must proceed with the acquisition of a POS

The obligation to acquire a POS terminal does not apply to payees (self-employed, sole traders and companies) who sell goods or provide services exclusively to other businesses (legal or natural persons) acting in the context of their business activity (B2B transactions), even if the payees in question have a CPA included in the list. In other words, the specific category of professionals is excluded.

Persons with visual impairments with a certified disability rate of 80% or more, and vending machines until 31.12.2024 are also excluded from the beneficiaries of payment by electronic means based on the KYA.

Between in the sectors that are obliged to use POS included:

• taxi drivers,
• insurance consultants,
• stock advisors,
• real estate agents but also businesses such as
• the public markets,
• the booths,
• theaters, cinemas,
• recruitment agencies,
• private higher education.

With regard to the sanctions in cases of non-compliance, the decision stipulates that for the period from 01.02.2024 to 01.03.2024 the imposition of a fine on the new debtors is exceptionally suspended, as long as it is proven that they have procured card acceptance terminals until 31.01 .2024 and are waiting for it to be installed in their business.

The freelancer to-do list

In addition to the recent circular and the extension of the obligation to supply and use POS, the “block” of freelancers is “dense” in obligations for the first months of the new year.

Specifically, the following must be done -among others:

• POS interface with cash registers: Based on the plan currently in place by the Ministry of National Economy and Finance, its implementation will begin on March 1, 2024.
• Mandatory mention of QR code on invoices: From 1/1/2024 all invoices issued by a program must have a QR Code marking. This practically means that they must be transmitted automatically and not later in the day, otherwise the QR Code will not have the necessary data
• Mandatory adoption of IRIS system: Another change is that from January 1, 2024, all freelancers, who maintain a business account, will be required to accept payments through the direct payment system (IRIS).

It is worth noting that this obligation comes 11 months earlier, since the initial planning placed it on December 1, 2024. As stated in a recent announcement by the Ministry of National Economy and Finance, “freelancers and self-employed persons are required to link their professional account with a direct payment system, as well as to accept direct payment from any natural person who requests it. Also, natural persons dealing with another natural person who provides services (freelancer or self-employed) are entitled to request that payment be made through a direct payment system.” Payments through the IRIS system are made directly from the consumer’s mobile phone without any commission for transactions up to 500 euros. Consumers, once they have activated the IRIS service in mobile banking, will be able to make their payments within seconds by entering the VAT number or the professional’s mobile phone, data which for convenience can be provided in the form of a QR Code to be scanned. The mention of the QR Code for IRIS payments will be printed on the body of the receipt issued so that its issuance precedes the payment. The new provisions require payees, who accept payment cards, and payees who are required to accept payments through a direct payment service, to inform consumers about the acceptance of cards and means of payment of the payment card system, in a clear way that is not open to misinterpretation . This information must be clearly displayed at the entrance of the store and at the checkout, as well as on the website through which they accept payments.