Strange change

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Strange change

Post by Admin on Wed Feb 14, 2018 7:53 pm

Just in case you wondered what was happening with the change you're given in shops now, Italy has stopped producing 1 and 2 cent coins and in true Italian style made it as complicated as possible.


Italy has stopped producing 1 & 2 cent coins but they will stay in circulation. So, as a business you can still sell something for 9.99 and receive 9.99 as long as the person pays by card. If they pay in cash you must round up or down as follows:            - - 1 e 2 centesimi: round down to zero;
- 3 e 4 centesimi: round up to 5;
- 6 e 7 centesimi: round down to 5;
- 8 e 9 centesimi: round up to 10. 

- Still following me? Now comes the best bit. You must still give a receipt for or invoice for 9.99 BUT account for the difference between 9.99 and what you actually receive must be accounted for as 'other income' or 'other costs' in your books. Only in Italy...
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Admin
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Location : Italy
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