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Economy

Greek Government Moves to Slash POS Transaction Fees

ATHENS – The Ministry of National Economy and Finance is pressing ahead with a legislative regulation, which it will submit to Parliament within the week or at the latest the following day, to slash the fees for POS transactions.

This government initiative was announced by the Minister of National Finance and Finance, Kostis Hatzidakis, in a recent interview on SKAI TV.

The minister acknowledged that various sectors, including kiosks, taxis, etc., had voiced fair concerns, particularly regarding commissions of 1%, even for transactions under €10.

He stated that these fees would be cut in half due to a lack of consensus among the involved parties that impose fees (banks, providers, and payment schemes), highlighting that the banks were the most cooperative in the discussions and were willing to implement reductions.

According to sources, a cap of 0.5% will be introduced for transactions in specific categories of businesses (mini markets, kiosks, taxis, etc.) and will not apply to all business activities.

Building on the aforementioned information, as emphasized by K. Hatzidakis, and in a bid to resolve the issue and prevent prolonged discussions, the government is moving forward with legislative action.

Regarding tax declarations, he also announced that Taxisnet will open within the week for the submission of tax declarations for individuals, following an announcement by the AADE on the commencement of the submission period for business declarations.

The deadline, he stated, extends this year until July 31, with no further extensions planned.

Finally, he revealed changes slated for 2025 concerning fines imposed on those who delay payment of annual traffic fees. Currently, a fine equal to the road tax is imposed from the first day of delay, but from next year, fines will be imposed progressively.

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