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Are you ready for rounding?

From 1 December 2019, all amounts paid in cash (notes and coins) will have to be rounded to the nearest 0 or 5 cents.


Am I affected?


Any cash payment for an amount higher than 5 cents made by a consumer in the presence of a vendor must be rounded. Rounding will not be permitted for online purchases.

COMMERCIAL COMPANIES, LIBERAL PROFESSIONS 

sales ticket

Yes!

As a vendor, you must round the total amount paid in cash by the consumer/individual customer, when: ◾️ the consumer and vendor are physically present as the payment is made and ◾️ if the amount payable is over 5 cents.

You can also decide to round for the other payment methods that you accept, such as credit or debit cards.

ADMINISTRATIONS

ticket counter

Yes... and no!

As soon as you carry out an economic activity (e.g. as part of managing a municipal swimming pool, a cultural activity, etc.). In this case, you must round the total amount paid in cash by the consumer/individual customer, when: ◾️ the customer and administration are physically present as the payment is made and ◾️ if the amount payable is over 5 cents.

You can also decide to round for the other payment methods that you accept, such as credit or debit cards.

However, amounts payable under your public service mission (e.g. for issuing an identity card) must not be rounded.  

ASSOCIATIONS, SCHOOLS, etc.

fancyfair stand limonade

 Yes... and no!

Schools, youth groups, associations, etc. can in some instances be considered as a business. As soon as you sell a product or service, you must round the total amount paid in cash by the consumer/individual customer, when: ◾️ the purchaser and vendor are physically present as the payment is made and ◾️ if the amount payable is over 5 cents.  

You can also decide to round for the other payment methods that you accept, such as credit or debit cards..


What should I do?


nr1

You must always round up or down to the nearest 0 or 5 cents. ◾️ If the total amount paid in cash ends in 1 or 2 cents, it is rounded down to x.x0 euro. ◾️ If the total amount paid in cash ends in 3, 4, 6 or 7 cents, it is rounded to x.x5 euro. ◾️ If the total amount paid in cash ends in 8 or 9 cents, it is rounded up to x.x0 euro.

card payment

Determine whether you wish to round for all payment methods such as debit or credit cards.

If you only round for cash payments, you can only round the amount actually paid in cash (even if the payment is made using both cash and another payment method).

If you decide to round all payment methods in addition to cash, you must round the total amount payable (even if the payment is made using both cash and another payment method). You must then clearly display the following information: “The total amount is always rounded”. You can use our templates for this.

Your sales receipt, invoice or proof of purchase must indicate the total amount to be paid and the amount that has been rounded.

Contact your cash register supplier now to discuss any adjustments you may require.


Why round?


One and two cent coins are very expensive to manufacture (raw material, minting, transport, etc.) and various studies have shown that consumers and businesses think they are irritating to use. Consequently, they are very rarely used, and new 1 and 2 cent coins constantly need to be minted.

coins in jar

By making rounding mandatory for all cash payments, the Belgian government hopes to speed up the reduction in the number of 1 and 2 cent coins in circulation in our country. And by doing so, it intends to satisfy the expectations of most businesses and consumers.

However, 1 and 2 cent coins will continue to be legal tender. The vendor cannot refuse them. 

ALL YOU NEED TO KNOW ABOUT ROUNDING