Extending the mandatory installation of POS electronic payment devices to almost all self-employed and business sectors and the implementation of the new EFT POS system from the beginning of 2023 foresees the plan being considered by the finance ministry and the Independent Public Revenue Authority.
In this way, the economic authorities of the country will be able to use electronic transactions as a weapon against tax evasion and bring more revenue to the state coffers., using the service's digital tools, like 'Appodixi'.
If the plan for mandatory POS goes ahead, then dozens of business areas such as gyms, tutorials, cinemas, theaters, vehicle rentals, booths and taxis – which so far do not have to have a cash register.
Regarding the online interface of cash registers with POS from its beginnings 2023, will help the tax authorities have a complete picture of the amount and time of issuance of retail receipts and the method of payment by the customer and thus they will be able to detect cases of income concealment and VAT theft by those who do not issue a receipt.
How the new system will work – Check in 5 steps
It is noted that the new system is called "interconnection of retail data issuing systems and payment card acceptance terminals (EFT POS)” and will not allow terminals to accept payment cards (EFT POS) to operate autonomously for debit transactions. The amount will be entered on the POS automatically by the cash register and will not be manually entered by the cashier.
- The transaction starts fromTax Electronic Mechanism (ΦΗΜ), i.e. sophisticated cash registers for retail transactions. The operator (clerk or shopkeeper) selects "card payment" and FIM sends a request to the EFT/POS card payment system.
- The systemEFT/POS automatically confirms receipt of the request to the Tax Mechanism, putting him on hold for the result.
- The POS connects toPayment Service Provider (bank or equivalent payment service) and receives information if there was (a) “online approval” the (b) offline approval or (c) discard offline or (d) termination of the transaction.
- The EFT/POS system responds to the FIM with thefinal result: rejection or approval. In addition, simultaneously with approval, it also sends the basic details of the transaction (such as transaction number, authorization code etc.) but also data for printing the receipt from FIM, as long as he supports it.
- The Tax Mechanism – ΦΗΜ confirms receipt of the final result.
In case this confirmation, for any reason, not documented by the EFT/POS system, then the EFT/POS creates a relevant flag for the non-processing of the transaction by the Tax Mechanism.