articles | 17 June 2021

By law, all retail businesses and services will have to accept plastic money as of September

By law, all retail businesses and services in Cyprus including doctors, lawyers and plumbers will have to accept plastic money as of September following a finance ministry decree.

The decree is expected to be published on Friday after Cabinet approval on Wednesday, Philenews reports.

The decree aims to combat rising tax evasion in the Mediterranean island and will all concerned must comply within three months from the day it is published.

The decree applies to law firms, accounting offices, hospitals, dentists, and businesses specialising in general and specialist medical professions.

As well as to dining, entertainment, and leisure facilities, hairdressing salons. businesses providing motor vehicle repair services, plumbers and air conditioning installations.

Upon enforcement of the decree, businesses and entities must clearly inform customers that they accept payment by cards.

Source: In-Cyprus

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