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Greece
Navigating the global tax compliance landscape successfully is complex and resource-intensive. Every country has a specific and constantly evolving set of legislated e-invoicing requirements.
Non-compliance, intentional or not, can result in significant financial penalties, business disruption, and reputational damage.
Compliance is Complicated
Want to learn more about how Tungsten Network makes the process of staying compliant easier?
Updates
- Mandate information02.27.24
Pre-filled VAT declarations
A recent discernible trend for Member States to digitise various facets of their fiscal processes has taken manifold forms. One way this has been manifested is via the automation of the processes concerning the population of VAT returns.
Greece fully implemented the electronic books (myDATA) reporting requirements for VAT (and income tax) from 1 January 2024. Alongside this, a new system of VAT declarations will be initiated. Effective from January 2024, Greek VAT declarations are now pre-filled with data from the myDATA digital platform. This platform is controlled by the Independent Authority for Public Revenue.
In line with Circular No. A.1020, a deviation from the pre-filled amounts is accepted by a 30% margin for both income and expenses. This rate will be reviewed periodically and gradually reduce it to zero.
Further information can be accessed via the following link: https://www.aade.gr/egkyklioi-kai-apofaseis/mydata-diataxeis/1020-06-02-2024
- VAT/G(S)ST rate information02.27.24
VAT in the Digital Age (ViDA) timetable
Despite 2023 not reaching consensus on the VAT in the Digital Age (ViDA) negotiations, the turn of the year has set out some very precise goalposts, with the associated objective of furthering the ViDA agenda, in line with the following:
- 18 January 2024: The VAT ECOFIN party reviewed the current ViDA position, with the aim of introducing a revised timetable.
- 14 May 2024: An agreement on ViDA is expected before the summer EU Parliamentary elections.
As a reminder, the ViDA package comprises of 3 main ‘pillars’:
- Pillar 1 – Reporting Requirements: More technical discussions and agreements are necessary to facilitate this. This is now expected to take effect from 2030.
- Pillar 2 – The Platform Economy: This is now likely delayed from 2025 to 2026, with a high-level agreement still pending.
- Pillar 3 - Single VAT Registration: This is now likely delayed from 2025 to 2026, with agreement nearing on the main points nearing completion.
Pillars 2 and 3 were initially scheduled for a launch date of 2025. Last year, legislative and policy makers acknowledged that this would not provide EU Member States with sufficient time to comply with the new requirements.
Tungsten Automation is acutely aware that a final agreement on ViDA is expected in the late spring, and that this will significantly impact the e-invoicing and e-reporting practices of Member States. We are closely following developments.
- VAT/G(S)ST rate information02.05.24
VAT re-instatement for specific categories
In December 2023, Law 5073/2023 confirmed that the temporary VAT rate of 13% in Greece for services in cafes, restaurants and specific shops, and the 6% rate applied to face masks and gloves, would expire. These temporary rates were instigated during the Covid pandemic.
Effective 1 January 2024, these supplies reverted to the standard 24% VAT rate in Greece.
Greece is a compliant territory for Tungsten Automation, and our e-invoicing solution supports all valid VAT rates in the country.
- Mandate information01.05.24
Updated myDATA e-book for reporting obligations
The myDATA platform is the mandatory system whereby businesses must maintain financial records in a digital format, as well as the medium for businesses issuing electronic invoices.
The Greek myDATA e-book has been updated for taxpayers that report data via ERPs only. The update contains extensions to the reporting obligations for taxpayers who report via ERPs.
The obligation to submit the invoicing and bookkeeping data via the ERP API to the myDATA portal has been postponed to 1 April 2024. Furthermore, the reporting timeline for continuous submissions has been extended from 1 day to 2 days.
Finally, the latest version 1.07 of 'myDATA' has been released, which brings significant enhancements to electronic data management. Significant additions include the integration of coded text alongside the existing 'MARK', enabling business programs to generate QR codes.
You can read more about Greece on Kofax’s dedicated country page here.
- Mandate information10.20.23
Mandatory Business-to-Business (B2B) e-invoicing
Greece’s Business-to-Government (B2G) mandate was initiated in September 2023. Following the e-invoicing paradigm in Europe, B2B e-invoicing usually follows in the footsteps of B2G e-invoicing, and this trajectory also now appears to be taking shape in Greece.
The Greek government has started discussions with the European Commission regarding authorisation to commence B2B e-invoicing in the country.
The plans are currently very much in their infancy. There are initial indications that the B2B e-invoicing mandate will be based on annual company turnover, with the requirement for accredited service providers based on the existing structure for reporting to the Greek reporting platform, MyData. Although there are yet no precise indications with respect to the e-invoicing model, it is believed that the MyData platform may be extended to form a centralised clearance model for invoice issuance.
Tungsten Network today assists suppliers and buyers in Greece today by requesting that they attach the legal invoice to the Tungsten Network system following the standard attachment process. We are closely monitoring B2B e-invoicing developments in Greece with a view to confirming how we can assist our Greek market considering these developments.
- Other applicable taxes09.06.23
VAT rate changes
The economic effects of the Pandemic are still being absorbed by some countries, both in Europe and globally. Amplified by soaring energy prices, an unavoidable side-effect of these colliding difficulties is the adjusting of VAT rates, which allows countries to stabilise their economies.
Greece, to this effect, has extended the reduced 13% and 6% in the country for following sectors until 31 December 2023:
- ·non-alcoholic drinks
- specific works of art
- dance schools
- gyms and passenger transport
- zoo tickets
- personal hygiene and protection products
- cinema tickets
- theatre and concert tickets
Greece is a compliant territory for Kofax and our e-invoicing solution supports all valid VAT rates in the country.
You can read more about e-invoicing in Greece on our country-specific dedicated page here.
- Mandate information05.02.23
Timeline for B2G e-invoicing
Greece has published a timeline to implement B2G e-invoicing in the country in line with the following:- As of 1 January 2024, suppliers to all central government agencies will be in scope
- From 1 June 2024 suppliers to all other government authorities will be scope
- From 1 January 2025, other government expenses must be invoiced electronically
- Country updates05.02.23
Tax incentives for companies who elect e-invoicing
In practice, we know that governments offer tax incentives as a means of encouraging e-invoicing ”“ and more often than not, this has proven to be an effective measure in spawning e-invoicing across individual EU member States. Greece has passed legislation on 28 March 2023 which states that companies who opted for e-invoicing within the 2020 tax year will benefit from certain tax incentives until the 2023 fiscal year. Tax incentives are a two-way success: they encourage the growth of e-invoicing and engage taxpayers with the process. The PDF version of the bill (in Greek) can be accessed via the link below: https://www.et.gr/api/DownloadFeksApi/?fek_pdf=20230100077 - Country updates03.15.23
Greece: Data transmission deadline delay
The deadlines for transmitting data to the MyData e-reporting platform in Greece have been subject to some fluctuation.
These deadlines again have been further re-defined by the Greek Tax Authorities, the Independent Authority for Public Revenue (IAPR), via the publication of a new decision.
This decision effectively means that deadlines for transmitting certain data generated in 2021, 2022 and 2023 are postponed.
Currently, standard transmission deadlines remain on target for data generated in 2024.
- Country updates02.07.23
Greek Tax Authority (IAPR) — new publication
On 31 December 2022, decision A.1188/2022 was released by the Greek Tax Authority (IAPR). The decision establishes significant changes relating to the transmission deadlines and sector-specific requirements relating to electronic data transmission to the IAPR. The below provides a summary of the main changes within the decision:- Real-time transmission through ERPs: the transmission of data and documents through business management programs will be undertaken in real-time from 1 January 2024
- QR Code: the accounting data using business management programs or the application for issuing and transmitting data on the IAPR website (timologio) could be used to generate a QR code. This QR code should generally contain a link for direct access to a digital service of the myDATA digital platform and will provide an overview of the transmitted document summary
- E-Invoice Service Provider: for certain transactions, the adjustment stage for businesses who opted to issue and transmit documents through an e-invoicing service provider to comply with the MYDATA obligation has been extended for 6 months.
- Country updates01.20.23
VAT form digitisation
The VAT in the Digital Age (ViDA) proposal has dominated the e-invoicing and e-reporting landscape in the past few weeks. In line with this drive for digitisation of the tax process across Europe, we are also seeing multiple countries implement fiscal policies to digitise their own tax procedures, in addition to e-invoicing and e-reporting measures. Greece is no exception to this, and, with the objective of creating a more efficient and less cumbersome tax process, is now voluntarily offering taxpayers the facility to use pre-completed VAT returns from the start of 2023. - Mandate information11.17.22
Update on penalties for non-transmission of retail sales documents and (B2G) e-invoicing
The new law 4972/2022 introduces some detailed tax measures regarding penalties for non-transmission of retail sales documents. In addition, it has also introduced provided some additional provisions extending the scope of B2G e-invoicing, which means that the B2G now also apply to e-invoices issued for:- contracts conducted in the sectors of defense and security,
- public contracts and contracts for projects, preparation of studies and the provision of technical and other related scientific services, supplies and general services,
- concession contracts for projects and services, as well as rules for electronic invoices issued for each category of expenditure of the contracting authorities or contracting bodies.