- Greece has rapidly shifted from a cash-based to an electronic payment society, driven by government policies promoting transparency and tax collection.
- Card and online payments have surged, especially in sectors like restaurants and entertainment, while everyday spending on essentials remains a major part of electronic transactions.
- Increased digital payments have boosted VAT revenue by at least €400 million in 2024, helping to narrow Greece’s tax gap.
- New regulations require more businesses to accept card payments, and the IRIS payment system streamlines electronic transactions and tax reporting.
- Further incentives, such as cashback rewards and linking tax benefits to digital payments, are suggested to enhance compliance and economic benefits.
Source: fiscal-requirements.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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