Learn about Greek VAT Live Reporting, the key elements of real-time VAT invoice reporting for Greece. Dec 10, 2019 The plan is to require real-time invoice clearing by VAT registered businesses for B2B and potentially B2C invoices from 1 January 2019. As announced on 23 April 2018, Greece is planning to introduce a mandatory real-time reporting of invoices as from 2020 onwards. 28 June, 2018. Share: The Oct 24, 2019 The Greek Independent Authority of Public Revenues (IAPR) has held consultations for their new real-time invoice reporting (RTIR) initiative. Dec 6, 2018 By January 2020 the goal is for reporting to occur in real-time at the same time as the invoice is issued. The new rules would make e-invoicing
May 28, 2019 In April 2018, Greece's Ministry of Finance announced its intention to The tax authorities will have, in real time, the recorded transactions, and the corresponding taxes (VAT, withholding tax (WHT), stamp duty) of each entrepreneur. the elimination of existing tax compliance reporting, the reduction of the Greece introduces new VAT rules for charter vessels. 1 week ago. VAT Global overview of future e-invoicing, e-filing and real time reporting. 3 months ago. The current rules on Value Added Tax (VAT), trade, travel, and business for the UK and EU will continue to Greece Prepares for Real-time Invoice Reporting Corruption is a problem in Greece. Transparency International stated in 2012 that corruption A mid-2017 report indicated Greeks have been "taxed to the hilt" and many that unpaid taxes in Greece at the time totaled approximately 95 billion euros, The shortfall in the collection of VAT (sales tax) is also significant.
Greece has confirmed that it will require all retail cash transactions to be recorded by certified VAT electronic cash registers from 6 June 2020. Certified VAT registers report each transaction to the tax authorities in real-time, with the aim to improve the completeness of tax reporting, and reduce non-reported cash transaction. Greek VAT returns are filed monthly or quarterly depending on the size of the business and type of accounting books kept. However, foreign businesses registered for VAT in Greece should file returns on a quarterly basis. Since 2014 an annual VAT return is no longer required by the Greek tax authorities. Following Spain and Italy, Greece is also proposing to introduce a real-time invoice reporting to the tax authorities from January 2019 for all companies related to the public sector, and limited liability companies. The system will probably be extended to all taxpayers from January 2020. The process of real-time invoice reporting is expected to reduce the time span of the input VAT refund. While the systems for real-time information not only enables the verification of the VAT charged on transactions with the corresponding purchases, it also reduces the possibilities for VAT fraud and evasion. Many countries have now introduced voluntary and mandatory transaction reporting submissions, on numerous standards. The timing varies from inclusion with monthly/quarterly VAT returns through to real-time reporting to the tax authorities at the time of the invoice creation.
From 1 January 2019, Greece are proposing to introduce a new mandatory real time invoice-reporting regime that will apply to all companies that sell to the public sector and limited liability companies (“LLC’s”). If introduced this new regime will require all businesses making these types of supplies, to declare the invoices to the Greek tax Some countries are combining e-invoicing with VAT real-time reporting to the tax authorities (e.g. Greece), or invoice pre-approval regimes (e.g. Portugal). Examples of countries where the rules still have to be implemented or will apply soon are: Croatia – B2G mandatory invoicing as of 1 July 2019 Greece has confirmed that it will require all retail cash transactions to be recorded by certified VAT electronic cash registers from 6 June 2020. Certified VAT registers report each transaction to the tax authorities in real-time, with the aim to improve the completeness of tax reporting, and reduce non-reported cash transaction. Greek VAT returns are filed monthly or quarterly depending on the size of the business and type of accounting books kept. However, foreign businesses registered for VAT in Greece should file returns on a quarterly basis. Since 2014 an annual VAT return is no longer required by the Greek tax authorities.
As announced on 23 April 2018, Greece is planning to introduce a mandatory real-time reporting of invoices as from 2020 onwards. 28 June, 2018. Share: The