Obligation to Accept Payments by Card – New economic activities

Obligation to Accept Payments by Card – New economic activities

By: P. Constantinou & Co. Ltd

Cyprus – The Tax Department issued a reminder that, under Article 30A, businesses listed in its list on the Assessment and Collection of Taxes are obliged to accept card payments upon completion of payment transactions.

Refusal to accept payment by card, the determination of a minimum transaction amount, or the acceptance of a card for transactions of certain products, constitutes a violation of the provisions of the Decree.

New economic activities

  • 10.2 – Kindergartens (private)
  • 52 – Cultural education (Music schools, dance schools, theatre schools)
  • 10 – Specialized design activities (Fashion design, graphic design services, Interior design or decoration)
  • 32 – Taxi operations (urban and rural taxis)

In case of violation of the provisions of the Decree, an administrative fine of up to four thousand euros will be imposed.

Complete list of economic activities that must accept cards >

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