Our last news article covered the topic of e-invoicing in Greece. In the last few months, however, a lot has changed. In particular, the most recent decisions A.1138/2020, published by the government on 22 June 2020, have brought new developments in this area.
e-book reporting in Greece
In August 2019, the Independent Authority for Public Revenue (IAPR) announced the introduction of the new e-book scheme for the first time. This was intended to transfer accounting data to the myDATA platform, which led to further unofficial discussions with various organizations and associations about the exact details of the reporting obligation. The goal was to be able to create balance sheets for all companies in the country using the myDATA platform, by requesting different types of accounting entries, such as:
- Accounting entries to determine the annual accounting and tax results
- Summary of income and expenditure documents for tax purposes
- Classification of expenditure and revenue transactions
The companies’ respective income and expenditure is automatically updated in the companies’ e-books on the myDATA platform. Tax returns are also compared with the data stored on this platform.
All companies that are obliged to submit data according to accounting standards are obliged to switch to the e-book scheme, regardless of the type of company.
The following methods are approved by the IAPR for reporting to myDATA:
- Business management software such as accounting software, ERP or government accredited e-invoicing service providers
- myData web portal for manual entry by small businesses, accredited online checkouts for retailers
Taxpayers must choose a method and cannot change this method depending on the accounting entry.
Data to be transmitted:
Decision A.1138/2020 also defined the types of documents and data that must be reported to the myDATA platform.
The following data must be reported by all liable parties:
- Invoices (initial, additional and credit invoices) and retail receipts, data from receipts, data from documents issued on the basis of special tax regulations and data on the collection or payment of rent
- Data from the accounting records that form the accounting and tax basis for determining the accounting and tax result of each tax year.
- Accounting records for payroll and depreciation must be sent separately, while other revenue/expenditure accounting entries made at the end of the period can be sent in their entirety.
The following data must be transmitted exclusively by buyers:
- Transactions with a foreign non-liable entity, such as imports from third countries and receipt of services
- Income from domestic and foreign retail sales
- Transactions related to the sale of electricity and water
- Transactions with financial institutions
- Documents for the payment of social security contributions
- Transactions that should have been reported by the issuer
In each report on income and expenditure transactions, the taxpayer must provide a classification of income taking into account expenditure. This classification data must be provided for each accounting row or at least per VAT type.
Timetable for reporting:
If the taxpayer has chosen the method of reporting via e-invoicing service provider or ERP, the data must be transmitted in real time before the data is exchanged between the parties. Exceptionally, the data may also be transmitted within five days of issue but must be sent no later than the 20th of the month following issue if the method via ERP has been chosen.
In the case of the method of reporting via the myData web portal, the reporting procedures are carried out until the 20th of the month following issue.
Exact timetable for the mandate
- From 20 July 2020: Voluntary summary of income and expenditure of data entries processed by e-invoicing service providers from 20 July 2020
- From 20 July 2020: Optional classification of income and expenditure of data entries from 20 July 2020 by e-invoicing providers
- From 1 October 2020: Summary and classification of income and expenditure of data sent by other transmission methods than e-invoicing providers
- Until 31 December 2020: Summary and classification of income and expenditure in the case of self-billing invoices issued between 1 January 2020 and 30 September 2020, except for data already sent
- Until 31 December 2020: Payroll entries from 1 January 2020 – 30 September 2020