The contentious tax bill that was ratified by Greek parliament on December 7 requires freelancers to accept payments both through POS and via online bank transfers such as IRIS, but there are a few exemptions.
The requirement primarily targets taxi drivers, insurance and advertising companies and sellers at farmers markets which, until now, were not required to accept payments via credit card.
The few exceptions to the law are: persons with visual impairment greater than 80%, vending machines, and any freelancer that is not in the list of 35 mentioned in the bill.
As previously reported, the bill comes into effect on January 1, 2024 and while freelancers must immediately apply for the POS and provide evidence that they have done so to avoid paying a fine, they will be given a short grace period of up until March 1, 2024 to receive the machine.
Afterwards, freelancers will be subject to a 1,500 euro fine. The fine will be reduced if paid within 30 days and will be reduced by half if the freelancer provides evidence that they have applied for a POS within 30 days of the fine. Freelancers must also declare a professional bank account and those failing to do so will also be hit with a 1,000 euro fine.
The measures are part of the Greek government’s efforts to stem tax evasion by reducing the prevalence of cash payments and limiting the conditions under which they are acceptable.