Friday 8th January, 2021
Greece has announced that it will start implementing mandatory e-invoicing and e-books from 1st April 2021.
The country’s move towards mandatory electronic submission is part of a global trend. As authorities seek innovative ways to detect and prevent tax evasion, tax offices increasingly require electronic invoicing and electronic transaction data submission.
Greek authorities specify that businesses must keep two sets of data: e-books and e-invoices.
Mandatory e-books submission
Applicable businesses will be required to make mandatory electronic submission of all transaction data through Greece’s myDATA platform.
E-books data includes general ledger transactions, payroll and other transactions.
The date for mandatory e-books submission was originally set during 2020. According to Greek authorities, the delayed implementation was partly due to difficulties caused by the Covid pandemic.
Electronic invoicing requirements
All VAT invoices relating to domestic B2B transactions will have to be filed electronically.
In addition, businesses must file e-invoices according to the specifications of the local tax authorities relating to digital invoicing.