Businesses against not accepting card payments: Penalties start at $5.000
In Türkiye, over 1 million individuals faced legal enforcement for unpaid credit card and loan debts. (AA Photo)
Türkiye’s Minister of Treasury and Finance, Mehmet Simsek, addressed ongoing efforts by the Revenue Administration (GIB) to combat the informal economy by requiring all businesses to accept card payments and use updated payment recording devices.
Speaking on the ministry’s efforts to bring more transparency to the economy, Simsek highlighted that new regulations mandate the use of modern payment recording devices that combine card payment functionality with receipt printing to ensure all transactions are properly recorded.
Mandatory use of modern payment systems by July 2024
Simsek noted that some businesses continue to use outdated devices or refuse to accept card payments. As a response, the ministry has introduced a regulation requiring all businesses to adopt the new payment recording devices by July 1, 2024.
He emphasized that all businesses must offer the option for customers to pay via debit or credit card.
“Businesses that fail to comply with these regulations will face special administrative penalties,” Simsek said, stressing the importance of businesses not passing card commission fees on to customers.
Penalties and enforcement for non-compliance
The minister stated that penalties for businesses that do not comply with the new rules start at 200,000 TRY ($5.859). Simsek also warned banks and payment institutions that continue to provide outdated POS devices. If identified, these institutions will face fines, with the penalty increasing annually based on reevaluation rates.
“We are determined to continue our fight against the informal economy in retail trade. These efforts are part of our strategy to enhance fairness and efficiency in taxation,” Simsek added.
Public can report violations
Simsek encouraged the public to report any businesses that either refuse to accept card payments or demand excessive additional charges for card usage.
Citizens can file reports through the Digital Tax Office, GIB mobile app, or via messaging platforms like BIP and WhatsApp.
