Finance Minister Harris Georgiades said authorities were considering mandating credit card machines at souvlaki shops and doctors’ offices in a bid to clamp down on tax evasion.
Georgiades, who was commenting on state radio CyBC on Friday, said the government may still be losing “significant sums of tax revenue” to undeclared economic activity of smaller taxpayers, such as souvlaki shops and doctors.
He said that by making compulsory the presence and use of credit card machines at this type of establishments, it would also be serving consumers.
“The consumer wants that,” he said. “That is why we are considering how we can practically implement this”.
“It will be a good first step, which will help us touch another portion which want to control, not the ones we usually suspect,” the finance minister said without elaborating.
Georgiades said after the government decided to set up a special bureau under the Tax Department, authorities were in better position to “audit and serve” major taxpayers.