The Greek Ministry of Finance, alongside the government, is setting aside the plan it was working on to reduce the limit of using cash for payment of transactions to 200 euros from the 500 that applies today.
The cash payment transaction limit will for now remain at 500 euros as the Greek Ministry withdrew the proposal in the end for the previously announced change
Public
Greece
Author: Kristina Dosen
Category:
Fiscal subject related
Views:
1918
Content accuracy validation date:
27.03.2023
Content accuracy validation time:
08:59h
On a technical level, strong reactions were expressed by officials of the European Commission and the European Central Bank who believe that there should be an "air" of cash in trade and in other sectors. In other words, it was stated that cash transactions support a part of the economy that cannot be served in other ways and therefore needs to remain active.
In the case of the reduction to 200 euros, moreover, the 500 euro banknote would then need to be completely excluded from transactions, which could create problems in the banking system as well.
So the Ministry of Finance is focused on expanding the mandatory acceptance of payments with debit or credit cards, through POS (EFT) machines, in all business activities, even in small cities and villages, rather than lowering the cash payment limit at this time.
Amid further discussion, almost at the end of the process, the Greek authorities have given up on the idea of reducing the limit for cash payment of transactions. Therefore, the current cash payment limit still stays at the 500 euro mark.
Other news from Greece
Greece's plan for mandatory B2B e-invoicing: current status and potential delays
Greece
Author: Tara Nedeljković
Greece's mandatory B2B e-invoicing is set to begin on July 1, 2025, but delays until 2026 are likely as businesses need more time to prepare. The system will integrate with the existing myDATA platform, enhancing tax compliance and facilitating pre-filled VAT returns. Read more
Greece introduces an enriched Code of Conduct concerning communicating prices on offers and discounts.
Greece
Author: Tara Nedeljković
Greece is introducing a new Code of Conduct to prevent misleading sales promotions by ensuring that discounts are based on the lowest price in the past 30 days and that multi-pack offers are transparent. Set to be announced on March 6, 2025, the code will enhance price communication in supermarkets, making it easier for consumers to compare real savings. Read more
Greece introduces an enriched Code of Conduct concerning communicating prices on offers and discounts.
Greece
Author: Tara Nedeljković
Greece is introducing a stricter Code of Conduct to prevent misleading sales promotions and ensure price transparency for consumers. Under the new rules, discounts must be based on the lowest price in the past 30 days, and multi-pack offers must display individual product prices for direct comparison. Read more
Greece Introduces Deposit Return System for Particular Beverage Packaging with a New Decision
Greece
Author: Tara Nedeljković
Greece has introduced a Deposit Return System (DRS) for plastic and metal beverage packaging to promote recycling and reduce waste, in line with EU Directive 2019/904. Consumers will pay a deposit fee of €0.10–€0.15 per container, which is refundable upon returning the empty packaging to designated collection points. Read more
Slovenia: EU Targets Unsafe E-Commerce Imports with New Measures
Public
Author: Ivana Picajkić
The European Commission is tightening regulations on e-commerce imports to address the surge of unsafe and counterfeit goods, particularly from China, by reforming customs rules and increasing product safety checks. Key measures include removing the duty exemption for low-value parcels, introducing a potential customs fee, establishing priority control areas, and launching an EU-wide product safet... Read more
AADE Launches myDATAapp in Greece
Greece
Author: Tara Nedeljković
Greece’s Independent Authority for Public Revenue (AADE) has launched myDATAapp, a new mobile application designed to help businesses issue documents and manage financial data easily from their smartphones. The app allows for on-the-go document creation, customer management, detailed financial reporting, and enhanced security features like biometric authentication. Read more
Extension of certain compliance deadlines in Greece concerning interconnection obligation
Greece
Author: Tara Nedeljković
Greece’s Independent Authority for Public Revenue (AADE) has extended compliance deadlines for the mandatory interconnection of payment terminals with cash register systems. Entities that have already implemented interconnections but do not fully comply with technical protocols now have until February 28, 2025, to complete the required upgrades. Read more