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Debit (EC) Card payment getting ever more popular

09 June 2014

As of June 30, 2014 all wholesalers and retailers as well as any other type of service provider in Italy are obliged to accept debit (EC) cards for payments of sums over 30 euros. The law, regulating this new rule, originally should have come into place in January; then, however – as is so often the case – has been postponed. Since March 30, bigger companies with a annual turnover of more than 200.000 euros are bund by this new regulation. As of June 30, this law will also apply to all other companies and service providers regardless of their annual turnover.

Until now it is very common in Italy to pay only in cash. With the implementation of the new law this way of payment should become a form of the past. When the new law was passed, the government had not only the advantages for the customer in mind; as a matter of fact the Italian state is hoping for a further step towards more transparency of money transfers and thus combating tax evasion.

So far penalties for the non-fulfilment of this new law have not yet been defined. Therefore one has to wait and see to what extent the new regulations will be put into practice, in particular by smaller companies and service providers.

(Source: fiscoetasse.com from 24.06.2014)

Further news regarding italian legislation