Greece requires taxpayers to submit VAT electronic reporting. It will include invoice reporting and e-books with e-ledger details.
The reporting first requires the submission of sales invoices. At a later stage, purchase invoices must also be submitted; such include intra-community acquisitions and imports. Invoices submitted must consist of all those containing a VAT element (stock, fixed assets, etcetera).
In addition to sales invoices, taxpayers are expected to provide e-ledgers that include sales and purchase ledgers, payroll, fixed assets, and amortization. Taxpayers will also be required to submit 'summary books' that disclose primary accounts' totals. The Greek tax office will assess whether the quarterly VAT returns match with the e-books reporting.
We developed for clients in our SAP add-on:
- The 'sales and e-book (purchases from EU and non-EU and accounting documents such as payroll, etc.) reporting requirements are extracted, can be submitted and managed in a cockpit.
- The AP domestic purchase requirement and is something separate that is met via the SAP add-on developed. The Client has to extract information submitted by the vendors on the Mydata portal and reconcile with invoices posted in SAP, and for all reconciled documents at the end it needs to submit a summary expense classification. In some cases, when the vendor is not submitting on MyData, the Client can trigger submission 'on behalf' to balance the expense book on the MyData portal.
SAP add-on for Greek myDATA obligations 2021
KGT SAP add-ons for SAF-T, e-invoicing and MTD UK for VAT work as a standalone application within the SAP system and does not change existing customer SAP functionality or processes. It is fully configurable with custom namespace /KGT.
KGT partnered up with SAP regarding 'SAP Advanced Compliance Reporting for SAP HANA'. The 'Advanced Compliance Reporting' (ACR) service enables you to configure, generate, analyze, and electronically submit statutory reports that contain indirect taxes, such as value-added tax.
KGT provides also S/4 HANA transformation support.
