Electronic transactions recorded a double-digit increase of 10.7% in 2024, compared to 2023. According to the Ministry of National Economy and Finance, this significant increase in electronic transactions – from 61.1 billion to 67.7 billion euros – was recorded mainly in the second half of the previous year, when the interconnection of POS with cash registers was completed, an emblematic project to combat tax evasion.
Through the interconnection, a document is issued through the cash registers for all electronic transactions via POS, as a result of which income is not hidden and in this way tax evasion is significantly reduced.
Exceeding the target in tax revenues
An increase in tax revenues of around 2 billion euros was achieved in 2024 beyond the target that had been set. According to the ministry, this is due both to the POS-cash machine interconnection and to the expansion of the application of the myDATA system for businesses.
Kostis Hatzidakis: The POS-cash machine interconnection was successful
In his statements, the Minister of National Economy and Finance Kostis Hatzidakis described the increase of 6.6 billion euros in electronic transactions in 2024 as “the strongest proof that the interconnection of POS with cash machines was successful, contributing decisively to the reduction of tax evasion.”
As he noted, “through this reform, the sense of justice and equal competition between businesses is strengthened and at the same time tax revenues are increased that can be directed either to support social policy or to further tax reductions. It is therefore a social policy in practice that is here to stay.”
More specifically, some sectors with a large increase in electronic transactions in 2024 compared to 2023 were the following:
- Car washes (from 11.2 million to 80.2 million euros) – 614% increase.
- Child care services (from 13.6 million to 71.1 million euros) – 433% increase.
- Watch and jewelry repair services (from 1 million to 4.6 million) – 348% increase.
- Lawyers (from 11.3 million to 45 million euros) – 299% increase.
- Taxi (from 26.5 million to 79 million euros) – 196% increase.
- Photography, graphic arts (from 2.2 million to 4.1 million euros) – 86% increase.
- Dry cleaners (from 11.5 million to 16.3 million euros) – 41% increase.
- Dentists (from 206 million to 249 million euros) – 21% increase.
- Restaurants (from 5.9 billion euros to 6.6 billion euros) – 12.5% increase.
- Doctors (from 357 million to 392 million euros) – 10% increase.
