Greek e-books and e-invoices myDATA 2020
- Sep 4, 2019 | Richard Asquith
The Greek tax office, AADE, is consulting with industry and accounting system providers on their proposed implementation of the myDATA electronic platform for taxpayers. This would create a standardised e-book schema, along the lines of the OECD's Standard Audit File for Tax (SAF-T). This will be supplemented with e-invoices, with monthly automated submissions. These direct digital filing requirements will be adopted for VAT, corporate income tax and withholding taxes.
There is a public consultation until early September, and a Q4 2019 pilot programme. Greece is looking to implement the new e-book and e-invoice regime in 2020.
Records to be held digitally include two sets of data:
• e-Invoices: Sales VAT invoices (domestic B2B transactions)
• e-Books: Accounting General Ledger transactions; Cash ledger Payroll; and Fixed asset transactions, include depreciation provisions. B2C and cross-border transactions, not included in e-invoice data, will be added to the e-books.
The above digital records will be automatically provided to the AADE, via the myDATA portal, either on a monthly basis or quarterly basis depending on the filing frequency of the taxpayers. The filing deadline is set to be the 20th day of the following month the reporting period.
Taxpayers will have four options to submit their e-invoices and e-books:
- Manual uploads for small numbers of invoices;
- From enabled ERP’s and accounting software;
- Online cash registers which are connected to AADE; or
- Commercial providers of e-Invoicing services.
AADE anticipates being able to match and validate taxpayers VAT transactions with their counterparties’ submissions to detect errors and fraud. This will be done live via myDATA, and discrepancies will be immediately returned via myDATA.