Surely, when small merchants read about the tax avoiding schemes of the likes of Apple, Google, Starbucks or Amazon, they don’t feel particularly motivated to pay tax on their dwindling takings.
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To clarify, the cost of a accepting cash or card for a legit business which costs more?
Don’t businesses have to pay to deposit cash, I suppose they also need to include the cost of their time counting it all up etc, whereas most POS with a card reader do this automatically.
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Many businesses pay to deposit cash and pay to exchange cash (for other denominations e.g. swap notes for coins). Also, they often have insurance to cover cash on premises and the person taking the cash to the bank or post office. The cost of such insurance is higher for a cash only business than for one taking a higher proportion of cards, due to card support reducing the amount of cash received and kept on premises and hence a lower amount of cover purchased which means lower premiums.
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