On Friday, June 12, 2020, Greece Ministry of Finance, together with Independent Public Revenue Authority, published about the digital transmission on the platform of the Electronic Books myDATA.
The decision sets the new framework, on which companies transfer to AADE electronically from their accounting data and books, regardless of their size and the manner of issuing and maintaining their accounting records. The decision specifies the scope of application, the exceptions, the data transmitted, the time, the modes of transmission, and the specific obligations of the companies.
The development of the project of data transmission on the platform of Electronic Books - myDATA will be done in stages to give taxpayers time to adapt to the electronic communication of companies with the information systems of AADE.
- Companies can choose to issue their documents the e-invoice through a certified service provider by submitting electronic data of documentary income starting July 20, 2020. Certified providers must guarantee the integrity of invoices and be a Greek resident and meet strict requirements.
- The obligation to transfer the data of the documentary income will be mandatory from October 1, 2020. It will be compulsory for businesses that will not opt e-invoicing through a service provider and issue their documents manually or electronically using business management programs (accounting, ERP).
- E-ledger data has to be transmitted automatically to the AADE. From October 1, 2020, the electronic sending of the purchase ledger data will start. By December 31, 2020, companies must transmit data on all the sales ledger data, from January 1, 2020, to December 31, 2020. By February 28, 2021, companies must file the purchase ledgers from January 1, 2020, to September 30, 2020.
KG developed an SAP add-on to meet the above requirements in time.
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Written by Richard Cornelisse
Richard advises multinational businesses in improving the efficiency and effectiveness of their Indirect Tax Function and Tax Control Framework.
He started his career as a manager at Arthur Andersen and then became a partner in EY where I led the indirect tax performance team for Netherlands and Belgium. Currently, he is a senior managing director of KEY Group.
Richard has over 20 years’ experience advising clients on international VAT issues. He is specialized in the tax aspects of financial transformations, shared service center migration, and post-merger integration work. Richard is also somewhat of a mentor, giving back to the profession. If you are interested in conversation and discussion, please feel free to contact him.