Greece has moved the deadline for obligatory e-books and e-invoicing filing to 1 July 2021. We previously noted that the deadline, originally pencilled in for 2020, had been moved to April 2021. Greek tax authorities have delayed the mandatory deadline once more, partly due to the economic downturn linked to the Covid-19 pandemic.
New VAT technology
The e-books and e-invoicing process runs on Greece’s innovative new myDATA system, which has been designed to simplify VAT compliance. Users file e-invoices directly through the myDATA portal.
With respect to e-books requirements, required data includes general ledger transactions, payroll and other transactions.
While Greece’s mandatory e-books and e-invoicing deadline has been pushed back, reports (Greek text) indicate that businesses are freelancers are increasingly taking advantage of the myDATA system on a voluntary basis.
How to comply with electronic invoicing
Tax authorities around the world are moving towards technology-based VAT monitoring and compliance.
In order to effectively comply with e-invoice requirements, businesses need to ensure they have the appropriate technology and system in place.
If you have any doubts about VAT compliance in Greece or in any other jurisdiction, you should seek clarity from a global VAT expert before mandatory digital invoicing takes effect.
Powerful VAT compliance technology
Vatglobal’s proprietary VAT technology makes global VAT compliance easy.
Our powerful proprietary technology integrates with your current software, making electronic filing easy and efficient.
In addition, Vatglobal’s team of VAT experts will provide full clarity and help you make informed business decisions.