Overview
- The CDU-SPD coalition has finalized plans to mandate businesses to provide at least one digital payment option alongside cash, aiming to modernize payment systems and enhance traceability.
- The proposal includes a general requirement for electronic cash registers, replacing open cash registers to improve tax compliance and reduce fraud in cash-heavy sectors like gastronomy.
- Supporters, including the Deutsche Steuergewerkschaft, argue the measures could significantly boost tax revenue, addressing an estimated €70 billion annual loss from tax fraud.
- Industry groups, such as Dehoga, criticize the initiative, citing financial burdens for small businesses due to equipment costs and transaction fees, particularly in hospitality and event-based retail.
- The measures are set to be phased in gradually, with further steps tied to the evaluation of Germany's 2016 cash register regulations.