The Ministry of Finance and the Independent Authority for Public Revenue (IAPR) issued a joint decision (Α 1138/2020) which activates and implements the companies’ obligation to transmit their data to the platform myDATA of IAPR. The decision determines the extent of its implementation, the exemptions provided, the deadlines, the procedure for electronic transmission and the particular obligations of the companies. Specifically:
Commencement date of data transmission to the platform myDATA
The commencement dates of the data transmission, as well as the deadlines for the year 2020, are presented in the table below. To be noted that, in some cases the deadlines of 2021 and onwards differ from the dates mentioned below. However, they have intentionally been omitted for simplification and understanding of the initial status.
|A.||ISSUERS||Beginning and transmission deadline|
|1.||Revenues and their characterization (Wholesale invoices – Retail receipts) for documents issued from 20.7.2020 through e-invoicing Providers.||As from 20.7.2020 and onwards at real time transmission.|
|2.||Revenues and their characterization (Wholesale invoices – Retail receipts) for documents issued from 1.10.2020 through the company’s commercial and accounting software.||As from 1.10.2020 and onwards at real time transmission.
Especially for 2020, the transmission can be effected within 5 days from the documents’ issuance date, but not later that the 20th of the month following its issuance.
Retail transactions can be transmitted on a monthly basis as summary, until the Electronic Tax Machines (ΦΗΜ) are linked to IAPR.
|3.||Revenues and their characterization (Wholesale invoices – Retail receipts) for documents issued from 1.10.2020 and are transmitted through the special data entry form of IAPR.||As from 1.10.2020 and onwards and up to the 20th day of the following month of the documents’ issuance.|
|4.||Revenues and their characterization (Wholesale invoices – Retail receipts) for documents issued from 1.1.2020 up to 30.9.2020.||Transmission deadline 31.12.2020.|
|B.||RECIPIENTS||Beginning and transmission deadline|
|1.||Characterization of documents received as from 1.10.2020 and onwards.||As from 1.10.2020 and up to the deadline of submission of the VAT return according to the accounting books maintained by the company.|
|2.||Characterization of documents received as from 1.1.2020 up to 30.9.2020.||Transmission deadline 28.2.2021.|
|3.||Documents transmitted by the recipient (intracommunity acquisitions, imports, reverse charges, retail records, Public Electric Power Corporation, Water Supply and Sewerage Company (EYDAP), Municipal Enterprises, Social Security funds, transactions with banks etc.).||Up to the deadline for the submission of the VAT return, according to the accounting books maintained by the company.
Especially for the period for 1.1.2020 up to 30.9.202020, the transmission deadline is 28.2.2021.
|4.||Documents transmitted by the recipient due to non-transmission by the issuer.||Transmission period as from 1.1.2021 up to 28.2.2021. (The issuer can accept and characterize the said documents up to 31.3.2021).|
|C.||OTHER ACCOUNTING ENTRIES (Issuers and recipients||Beginning and transmission deadline|
|1.||Revenues and expenses settlement entries for the determination of the annual tax result (except payroll).||Up to the deadline of corporate income tax return submission.|
|2.||Payroll accounting entries.||As from 1.10.2020 and onwards, up to the deadline for the submission of withholding tax return on salaries and wages.|
|3.||Payroll accounting entries for the period 1.1.2020 - 30.9.2020.||Up to 31.12.2020.|
The data transmission date is the one on which the Unique Registration Number (ΜΑΡΚ) is provided by the system.
The characterization of the documents is obligatory transmitted by a tax accountant which is licensed by the Economic Chamber of Greece.
Tax incentives provided for the implementation of e-invoicing
According to a draft bill recently introduced to the Parliament, tax incentives are provided to companies which will exclusively adopt e-invoicing through licensed providers for the issuance and receipt or only the receipt of e-invoices for the tax years 2020-2022. Such incentives are mainly the following:
- Reduction of the statute of limitation period, during which the Tax Authority can issue a tax audit assessment, to three or four years, depending on the case.
- Full deprecation increased by 100%, within the year in which the acquisition of hardware and software are incurred.
- Tax deduction, increased by 100%, of the expenses incurred for the issuance, transmission and electronic filling of e-invoices.
- Tax refund claims can be settled within 45 days instead of 90.
You can download the Tax-i in pdf file here.