POS: Their use is mandatory for freelancers from 1/1/2024

From January 1, 2024, POS expands to 35 industries and practically to the whole market. From folk markets and festivals to kiosks, taxis, convenience stores, insurance and advertising companies, theatres, cinemas and wider entertainment services.

Thus, in January all freelancers who joined the mandatory acceptance of payments via POS should have, at least, submitted a request for the supply of a terminal card acceptance. This is the condition to avoid a fine of 1,500 euros and to have the right to install and operate the POS until March 1.

Provisions for POS

The relevant provisions define that the new debtors who were not obliged and did not have card acceptance terminals and/or a business account until December when the relevant ministerial decision was published, are obliged to supply and put into operation card acceptance terminals, as well as to declare a business account from 01.01.2024.

As an exception, it is stipulated that for the period from 02.01.2024 to 03.01.2024, the imposition of a fine is suspended, if proven they have legally submitted a relevant request for the supply of a card acceptance terminal and 31.01.2024 and are awaiting its installation.

The IRIS System

From January 1st, the obligation of all freelancers to have a business account and accept direct payments through the IRIS system also “runs”.

Freelancers should declare to AADE one or more professional accounts, within a month of starting their professional activity. This account will accept transactions with POS or IRIS as well as credit transfers, standing orders or transactions with cash. These accounts are verified by the payment service providers and otherwise deactivated. If there are more than one business accounts, all must be declared.

Payments through IRIS are made in seconds, using the telephone number or VAT number of the self-employed person or alternatively the consumer can scan with his mobile a QR Code which will be printed on the receipt.

Transfers of amounts between natural persons through the IRIS system without the sale of a good or service are free up to 500 euros per day but for transactions with freelancers there will be charges, which are borne by the freelancers and determined by the bank they work with.

Fines

Whoever does not install a POS or activate the acceptance of instant payments will face a fine of 1,500 euros.