E-Invoicing

e-invoicing

The development of technology has caused radical changes in our daily lives, it is obvious that this fact would not leave unmoved the business environment. It is worth looking at the data of the European Commission to understand the size of the ‘gaps’ in VAT and the need for an immediate solution to this phenomenon. More specifically, in 2013 it is estimated that this amount amounts to 6.2 billion euros, in 2014 it decreases to 4.6 billion, but since then it has been growing steadily. It is also characteristic that Greece has the second largest loss of revenue in the EU from VAT due to tax evasion and the informal economy. AADE, therefore, wanting to put an end to the action of the circuits that deprive billions of euros from the state budget and with the help of technology activates the e-books for all companies and the self-employed from 1/4/2021. The first step towards the implementation of this measure is the withdrawal of more than 110,000 cash registers and other tax electrical mechanisms that do not have the ability to connect online to the information systems of the Independent Authority, their withdrawal should be completed by March 31 2021. The holders of this electronic tax mechanisms are obliged to declare to the Taxis or to the competent Tax Office their termination. This will be followed by the online interconnection of more than 350,000 cash registers and other tax mechanisms of AADE. With the online interface, it will be possible to transmit electronically the data of all the retail transactions issued by the companies to the data of AADE in real time and for each transaction for which a receipt will be issued. As it is understood, AADE in this way aims to eliminate the phenomena of non-issuance of receipts, use of ‘tampered ΄ cash registers and mechanisms as well as the elimination of corruption cases and concealment of undeclared income since it will have the possibility of online real-time monitoring of issued by companies. After that, AADE through automatic cross-checking of tax data (invoices, receipts, etc.) will detect any deviations from them. This will make it impossible for entrepreneurs and freelancers to hide their receipts from the sale of their products or the provision of their services. Two more measures of the utmost importance are the introduction of electronic invoicing and the electronic keeping of tax books. With the e-invoicing, the invoices will be issued exclusively by electronic means and will be sent automatically to the Taxis and Taxisnet systems, resulting in their direct control by AADE and the restriction of the issuance of fictitious invoices. Regarding the electronic bookkeeping, a new electronic platform called ΄myData ‘in which the tax books of companies and freelancers will be kept electronically.

This online platform will include two categories of e-books:

1. the book of Detailed records (Detailed book) where the summary of the documentary income / expenses of the companies will be recorded
2. the summary book (Summary book) that will summarize information on:

Income and taxes resulting from the liquidation withholding taxes other taxes

Every company and every freelancer will have access to the system through personal Taxisnet codes and will enter the details of the invoices and receipts and will obtain a Unique Registration Number (MARK). The entering of the details of the documents will be done in the following ways:

1. With the accounting-commercial program of the companies
2. With the form at www.aade.gr/myData
3. With electronic tax mechanisms directly interconnected with AADE for retail transactions
4. Through e-invoicing. In companies with a small number of documents that do not use special software, the registration will be done at the electronic address www.aade.gr/myData. The data of the documents will be transmitted monthly for the companies that keep records with a bibliographic accounting system and on a quarterly basis for those with a haplographic accounting system. The final stage is that of cross-checking tax returns and e-books in case of data discrepancy. In case of discrepancy between the data, AADE will send an automated message to the companies to take the necessary corrective actions within two months. Immediately after the lapse of two months, a period defined as a deadline, an (a) agreement may occur, (b) Justified discrepancy, (c) Unjustified discrepancy case in which the company is led to tax control and imposition of sanctions.