Greece live VAT invoice reporting 2019
- May 9, 2018 | Richard Asquith
This is required of all companies related to the public sector, and limited liability companies. It will be extended to all taxpayers from January 2020.
Sales invoice details will need to be electronically submitted to the Greek tax authorities’ TaxisNext system at the same time as being issued to customers. For B2C transations, this will be via approved point-of-sale devices. The customers must then electronically confirm live receipt with the tax authorities. The issuance of paper invoices will be banned.
All accounting records of taxpayers, including accountants reporting on behalf of clients, must be stored electronically.
It is not yet clear what the filing mechanisms will be, but will likely include an API feed (application programming interface). The aim will be for the Greek tax authorities to have live or near-live reporting of taxable transactions to help detect and prevent VAT fraud. It is expected that this will be on a daily, batch-basis.
The Greek framework follows the 2019 Italy SdI live invoice scheme, and will need approval from the European Union.
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Researching Greek VAT legislation is the first step to understanding your VAT compliance needs. Avalara has a range of solutions that can help your business depending on where and how you trade.