1. B2B and B2C Transactions
The Greek Ministry of Finance and the Independent Authority of Public Revenue (IAPR) have introduced myDATA (my Digital Accounting and Tax Application) in 2020. This is an electronic platform functioning as an extensive e-reporting system.
Under the current Greek tax legislation, all companies and entrepreneurs established in Greece are subject to the Greek Accounting Standards legislation and obliged to transmit their accounting data to MyDATA. The transmission is structured based on the specifications and configurations provided by the IAPR. All invoices issued or received should be first categorized according to the categories provided by the IAPR and then uploaded in the electronic platform.
There are several channels taxpayers may use in order to submit their issued invoices for either B2B or B2C transactions:
Additionally, the taxpayers are obliged to transmit data of the goods and services received when there is no such obligation from the issuer of the invoice (e.g. intracommunity acquisitions, imports, services received from non-established in Greece suppliers, other organizations exempted etc.) and to transmit the accounting entries as well (e.g. payroll, depreciation, accruals etc.).
Based on this reporting, the IAPR maintains a database with the transmitted data, which constitutes the electronic books of each company and entrepreneur. These data enables the IAPR to prepare the VAT return of every taxpayer. The taxpayer is responsible for the reconciliation of the transmitted data with its accounting books as well as for modifying the relevant VAT return accordingly in case the uploaded invoices have been rejected by the system. Currently, the data of such a return can be modified by the taxpayers in case there are discrepancies between the accounting books and the VAT return prepared by the system. However, the IAPR has announced that in the near future the prepared VAT return will not be modifiable.
The IAPR aims in the near future to determine the accounting and tax result of each company and entrepreneur and their liabilities to pay VAT or other taxes (withholding, stamp duty etc.).
Recent developments in the tax legislation for this digital reporting system include as of 01.01.2024 the following:
2. B2G Transactions
On the other hand, the Greek Ministry of Finance has adopted mandatory e-invoicing for contracts between taxpayers and the Public Sector (B2G).
The e-invoicing context/structure is based on the European standards for issuing electronic invoices and aims to facilitate the public procurement process, reduce administrative burdens, create transparent relations between the taxpayers and the public sector, reduce paper-based invoice and minimize invoicing errors.
The obligation is applied gradually depending on the public administration the invoice is issued to and the legal framework governing the relevant contracts.
The obligation started on 12 September 2023 and will be completed in January 2025, with the mandate to issue e-invoices to all the general state administrative bodies.
The condition for applying the mandatory e-invoicing is not the date of the relevant invoice issuance but the date the process of the contract’s decision commences.
E-invoicing on B2G transactions may be performed only through a certified e-Invoicing service provider which has additional licensing requirements. The e-invoicing service provider has the same obligations for the online transmission of the documents issued to the myDATA platform.
If you have any questions about WTS Global or our global services, please get in touch.
We will respond to you as soon as possible.