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POS Machine

 
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Nikco D



Joined: 03 Apr 2017
Posts: 2
Location: Kefalonia

PostPosted: Thu Jun 15, 2017 11:23 am    Post subject: POS Machine Reply with quote

Good afternoon,

I am not sure if anyone will have the answer to this one? However, there is a lot of rumour around so it would be interesting to know of others experience......

We rent two houses on Kefalonia with full EOT licences and consequently use an accountant to keep track of VAT and tax declarations etc.

I was informed a while back that I would have to obtain a POS machine in order to be able to process credit card payments. We are actually contracted to a UK agency so do not take monies locally-our rent is paid by the company directly to our Greek bank account in 3 installments.

I have no need or desire for a POS machine but my accountant insists I must have one by 1st July or face the possibilty of a 5,000 Euro fine, should the taxman visit and discover I do not have such a thing.

My question is, has anyone else been informed of this requirement or is it some kind of accidental misinformation?

Best wishes to all

Nick
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AndrewH



Joined: 12 Sep 2013
Posts: 1171
Location: Kefalonia, Greece

PostPosted: Thu Jun 15, 2017 4:22 pm    Post subject: Reply with quote

Hello Nikco and welcome to this site.

I, like you, have a rental on Kefalonia and in a similar way have been told by my accountant that I am meant to have a Point Of Sale card machine connected to my Greek bank account by 1st. July.

I haven't got a POS machine yet and, if I did possess one, it would NEVER be used. This is because ALL my rental payments are taken in advance of the guest's stay and in GB Pounds. I do not do payments on arrival or departure and this would be when a POS machine could be used.

I will make an enquiry at the local bank sometime soon and see how much a POS machine costs to rent or buy or whatever, and what bank charges are involved. When I have done so, I will report back to LMH. If, Nikco, you receive any further information on this we would be pleased to know.

I would say that at least 50% of the holiday rental properties on our island (Kefalonia) are owned by foreigners who are not resident in Greece and only visit on rare occasions. They don't have Greek bank accounts. They never see their holiday guests because everything is transacted, in advance, online and sometimes not in Euros. I don't know how the tax authorities hope to handle all that.
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Last edited by AndrewH on Thu Jun 15, 2017 4:22 pm; edited 1 time in total
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COYS



Joined: 06 Jun 2015
Posts: 606
Location: Greek Islands

PostPosted: Thu Jun 15, 2017 4:22 pm    Post subject: Reply with quote

Welcome aboard Nick.
Not something I've heard nor been made aware of & not sure why you would ever require a POS machine if you are not collecting payment locally.
I suppose it could be a fad like in house ledgers that were so 'important' a couple of years ago but are now completely defunct.
Ask 10 greek accountants & you will no doubt get 10 conflicting answers but I can only go by our own experience & thus far we haven't been informed of any such legislation, & have only just processed our rental tax bill this month.
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Nikco D



Joined: 03 Apr 2017
Posts: 2
Location: Kefalonia

PostPosted: Fri Jun 16, 2017 9:27 am    Post subject: Reply with quote

Good morning and thank you both for your replies.

I certainly never intend to use the POS machine but I am concerned that I should have one just in case I have a visit.
I have been looking at Viva Wallett who have a range of machines that can be either purchased or rented. I prefer the rental option, because, if as COYS suggests, this is just a fad, I can give the macine back!
I am not sure of the exact costs involved as I am waiting for Viva to call me with this information. You can check out the options on their wbsite here: https://www.vivawallet.com/en-us/index

I am hoping that the process of arranging the whole thing with Viva may be a little less bureaucratic than the bank but perhaps I am being overly optimistic!

I agree that 10 accountants could give 10 different answers but as I've asked two so far and they have both told me I do need the machine, then I think I will err on the safe side and at least proceed with the application.

Thanks again for your help

Nick
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AndrewH



Joined: 12 Sep 2013
Posts: 1171
Location: Kefalonia, Greece

PostPosted: Sat Jun 17, 2017 1:39 pm    Post subject: Reply with quote

Thanks for that info., Nick. It looks like VivaWallet is going to be the way to go. Just another unnecessary expense, but the taxman does come calling, so I won't take chances. He (well 4 of them plus their driver) did call some years back (1) to see if I was worth a VAT refund (and I wasn't!), and (2) to check if I was keeping that guest ledger up to date (which I was!).
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norad



Joined: 14 Jan 2017
Posts: 3

PostPosted: Sat Jul 22, 2017 11:44 am    Post subject: Reply with quote

Hi all,

You can tell your accountant that you are not obliged to own a POS machine, you are only obliged to be able to charge cards, no matter the technology used.

As such, you can use www.freepos.gr whenever you need to charge a card, and you do not need to acquire a physical machine. FreePOS is also a service from VivaWallet.

Below is a screenshot from the site in Greek (unfortunately there is no translation but you can ask your accountant to check it out)



Disclaimer: I used to work for Viva Group for 10 years but I am now involved in the vacation rental market.

Let me know if you have any questions!
Alex
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AndrewH



Joined: 12 Sep 2013
Posts: 1171
Location: Kefalonia, Greece

PostPosted: Sat Jul 22, 2017 4:34 pm    Post subject: Reply with quote

norad wrote:
You can tell your accountant that you are not obliged to own a POS machine, you are only obliged to be able to charge cards, no matter the technology used...Alex

Thanks very much, Alex. That's very helpful information, and something I shall discuss with my accountant when I see her on Monday. It looks as if I might be 'off the hook'.
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