New legislation
The Chamber of Deputies approved a bill that would reintroduce the electronic sales record-keeping system starting in 2027. According to the government, the new version of the system is intended to be simpler than the original one and will not require the mandatory printing of receipts. The bill will now be reviewed by the Senate.
The record-keeping requirement applies to payments made during in-person contact with a customer—for example, in cash, by card, by check, or by voucher. Conversely, remote payments—typically transfers between accounts or payments made in online stores—are not subject to this record-keeping requirement. Business owners will also be able to provide receipts to customers electronically. The proposal also includes a regime for small business owners subject to a flat-rate tax who meet certain conditions; they will not be required to continuously report their sales to the Financial Administration system.
The government expects that the reinstatement of the EET will help level the playing field for businesses and increase public budget revenues. However, the approved package also includes other tax changes, such as the reinstatement of preschool tuition subsidies and student tax credits, a reduction in VAT on non-alcoholic beverages served in restaurants, and the exemption of a portion of tips in the restaurant industry from taxes and social security contributions. The opposition and some analysts question the expected budgetary benefits, pointing out, among other things, the administrative burden on businesses and the accompanying tax breaks, which could reduce part of the revenue.
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