kathimerini.gr
Greece Raises IRIS Payment Limits, Targets Tax Evasion
Greece's IRIS payment system will increase daily transaction limits to "1,000 EUR" for both person-to-person and person-to-business payments by year-end, with a monthly cap of "5,000 EUR" on person-to-person transfers to combat tax evasion; all businesses must accept IRIS by October 31, 2025.
- Why was a monthly cap introduced for P2P transfers, and how does this address tax evasion?
- This increase aims to promote the IRIS system, a "national champion" in real-time payments, which reached 57.3 million transactions in 2024. The monthly cap on P2P transfers addresses the issue of freelancers using personal accounts to avoid taxes and transaction fees.
- What are the immediate impacts of the increased transaction limits for P2P and P2B payments via the IRIS system?
- The daily limit for person-to-person (P2P) IRIS transfers will increase to "1,000 EUR" from "500 EUR", while the person-to-business (P2B) limit for freelance payments will also rise to "1,000 EUR" daily. These changes, effective from the end of the year, will include a monthly cap of "5,000 EUR" for P2P transfers to curb tax evasion.
- What are the long-term implications of integrating IRIS into POS systems and mandating its use by all businesses by October 31, 2025?
- The mandatory extension of IRIS to all businesses by October 31, 2025, and its integration with POS systems, will further enhance its adoption. Data transmission to the tax authority (AADE) will improve tax compliance. By October 31, 2025, all businesses must accept IRIS payments, and these transactions will be reported to the AADE, similar to credit/debit card payments.
Cognitive Concepts
Framing Bias
The article frames the increase in IRIS transaction limits positively, highlighting the government's efforts to promote digital payments and the success of the IRIS system. The use of terms such as "national champion" and the emphasis on the rapid growth of IRIS could be considered framing bias, potentially underplaying potential concerns or drawbacks. The headline (if there was one) would also likely play a key role in shaping reader perception.
Language Bias
The language used is generally neutral, but the description of the IRIS system as a "national champion" carries a positive connotation. Terms like "parakampi" (circumvention) and the descriptions of those who avoid taxes are implicitly negative. While this is understandable in the context of reporting, it's important to note this is not strictly neutral language.
Bias by Omission
The article focuses primarily on the increase in transaction limits and the government's perspective, potentially omitting perspectives from users, businesses, or financial experts on the impact of these changes. There is no discussion of potential downsides or unintended consequences of the increased limits or the monthly cap for P2P transfers. The article also omits details on the specific costs and benefits for different types of businesses using the IRIS system.
False Dichotomy
The article presents a somewhat simplified view of the situation by focusing on the solution (increasing IRIS limits) without fully exploring alternative solutions or the potential complexities of tax evasion. While the article mentions tax evasion, it doesn't explore other potential methods of addressing this issue beyond increasing transaction limits.
Sustainable Development Goals
By increasing the limits for P2P and P2B transactions through IRIS, the Greek government aims to promote financial inclusion and reduce inequalities in access to financial services. The increase in transaction limits will help small businesses and freelancers, particularly those who may not have access to traditional banking services, to manage their finances more efficiently. The elimination of transaction fees for P2P transactions further enhances financial inclusion for individuals.