Cyprus Mail

Businesses not accepting plastic money faced with €4,000 fine

Businesses that refuse to accept card payments can be fined up to €4,000, the tax department said on Wednesday.

In its statement, the department refers to the relevant article of the law providing that all businesses mentioned are obliged to accept plastic money in their transactions with consumers.

Failing to do so, they are subject to an administrative fine of up to €4,000.

The tax department carries out continuous checks and examines all complaints it receives. In cases of penalties, the department said it may not make its results public.

It also urged people to report any breaches of the law they identify by sending the relevant information to the e-mail address [email protected].

On June 2021, the cabinet approved a finance ministry decree obliging doctors, lawyers and retail businesses among others to accept card payments in a bid to fight tax evasion.

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