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The Belgian government and Bancontact boost electronic payments

Minister Jan Jambon and Bancontact have published an information brochure explaining the optimised tax incentive offered to merchants who buy a payment terminal. Since 1 January 2018, the new law pertaining to company taxes means that the purchase of a payment terminal is now more interesting for the self-employed, independent professionals and SMEs.

In the booklet, tax lawyers explain the conditions and how merchants can declare their investment. “We believe it is important for every Belgian trader to be properly informed about the new measure, so that this tax incentive is able to have maximum effect,” says Kim Van Esbroeck, CEO of Bancontact.

The cost of the terminal and the tax savings are calculated using practical examples, always representing sole traders or (small) businesses. In this way, for the first time, merchants have a clear view of the true cost of a payment terminal. The brochure also includes a clear summary of the providers of payment terminals and their Bancontact offer.

Read the full press release here and download the digital version of the booklet here.