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Greece live VAT invoice reporting 2019

Greece live VAT invoice reporting 2019

Greece is to require real-time invoice reporting to the tax authorities. From January 2019, this will be required of all companies related to the public sector, and limited liability companies. It will be extended to all taxpayers from Jan 2020.

Sales invoice details will need to be electronically submitted to the Greek tax authorities at the same time as being issued to customers. 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.

The Greek framework follows the 2019 Italy SdI live invoice scheme, and will need approval from the European Union.

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Avalara helps businesses of all sizes get tax compliance right. In partnership with leading ERP, accounting, ecommerce, and other financial management system providers, Avalara delivers cloud-based compliance solutions for various transaction taxes, including sales and use, VAT, excise, communications, and other indirect tax types. Headquartered in Seattle, Avalara has offices across the U.S. and around the world in the U.K., Belgium, Brazil, and India.