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Banks were asked to adjust POS operation fees

17 July 17 - RE+D Magazine
Banks were asked to adjust POS operation fees

COMPANIES

ETAD.A.E.

Public entity - GREECE

IBI Group

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Savills

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PEOPLE

Antulio Richetta

Director IBI Group
Deputy Finance Minister Katerina Papanatsiou on Sunday appealed to banks to lower their charges for electronic transactions made via POS machines, via her interview with the Athens-Macedonian News Agency (ANA). The complaints from small- and medium-sized businesses especially on this score were justified, Papanatsiou said.

 

"Unfortunately, in any cases there are still charges and commission from another era," she noted, pointing out that the problem was especially acute in retail trade sectors with very small profit margins, such as cigarettes or newspaper sales, "where the transaction charge is a real problem."

She said the finance ministry had raised the issue repeatedly with the banks, without getting the response it would like.

She warned, however, that this raised an issue of ensuring equal terms of competition "which should perhaps be examined by the competent authorities, such as the Competition Commission."

The minister ruled out the risk that major cases of tax evasion will be written off as statute-barred, noting that the laws made provisions for several periods for a case to be statute-barred, beyond five years, when additional leads come into the hands of tax authorities, such as information from the tax authorities in other countries.

In such cases, offences become statute-barred in 10 years and they include all the lists from abroad, Papanatsiou said. She also announced that the finance ministry is ready to start lotteries rewarding tax payers for electronic transactions they carry out as early as next month, with one million a month shared out among the lucky winners, while it will include all receipts for electronic transactions since the start of the year.

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