In a draft bill published on 19 June 2020, the government provided certain incentives applicable until 2022 for entities that opt to implement e-invoicing exclusively. The transmission of sales data by entities that elect to use e-invoicing through a licensed supplier, as further discussed below, will start on 20 July 2020. The transmission of data, as well as the characterization of transactions, for the first nine months of 2020 will have to be done gradually, in phases, and will have to be finalized by 28 February 2021. As such, data transmission will begin on 1 October 2020 for tax documents that have been issued as from this date. Implementation of the new process will be performed in stages to provide entities sufficient time to adapt to the new framework. The decision provides further details on the scope of the new process and applicable exemptions, the data to be transmitted, transmission methods and procedures, applicable deadlines, how transactions should be characterized, and other requirements. The Ministry of Finance and the Independent Authority of Public Revenue (IAPR) issued a joint ministerial decision on 22 June 2020 setting forth the framework for entities to transmit their books and tax records electronically to the IAPR (Decision 1138/22-6-2020).Įntities will have to characterize the transactions that they report on the myDATA platform, classifying them to revenue and expense categories, but a significant requirement for the proper disclosure of an entity’s accounting and tax information will be the mandatory characterization of part of the data by a licensed accountant.

The following discusses recent guidance issued about e-books and e-invoices.

In an effort to automate various reporting procedures, reduce administrative costs, and deter tax abuses, Greece’s tax authorities have implemented new processes that will enable companies to maintain and submit certain data to electronic books (e-books) and incentivize them to adopt e-invoicing. E-books reporting to begin 1 October 2020 e-invoicing incentives released

2016 tax extension date