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4th June, 2020

Gov’t requires e-payment from more retailers

All retailers which operate cash registers connected online to the tax authority NAV will have to offer electronic payment methods from January 1, 2021, according to a bill filed by Finance Minister Mihály Varga.

The regulation affects an estimated 60,000 retailers who accept payments in cash only.

The bill does not require the operation of POS terminals because accepting instant money transfers is also a good solution, according to the proposal.

This measure is not a surprise, as it was announced as a possibility by PMO leader Gergely Gulyás on April 16, Portfolio recalls.

Sources regularly consulted, with abbreviations used in text: Népszabadság (N); Magyar Hírlap (MH); Világgazdaság (VG); Napi Gazdaság (NG); Magyar Nemzet (MN); Népszava (Nsz); Kossuth Rádió news (KR); nightly TV news (TV).

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