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On 30 April 2018 the Press Office of the Greek Ministry of Finance released an announcement, concerning the implementation of e-invoicing EU legislation and electronic bookkeeping in Greece, with full effect as of 1 January 2020. Zepos & Yannopoulos, Taxand Greece, provides an update.
A working group comprising of State officials and other members from various industries will be set up in order to deal with the infrastructure requirements and implementation challenges faced with the above rules. Implementation should start gradually from 1 January 2019.
In anticipation of the relevant implementation rules, Greek tax authorities consider that it will reinforce the efficient targeting and prioritisation of tax audits and in effect will strengthen the Greek tax authorities’ tools for combating tax evasion. Most importantly, e-invoicing and electronic bookkeeping are also expected to facilitate Greek enterprises day-to-day activities, through automatic and less time-consuming compliance procedures, hence reduced bureaucratic costs.
Co-authored by Georgia Voutsa
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It remains to be seen whether Greek authorities will set up the appropriate infrastructure that will enable the success of this measure, which is conceived as one more step towards the simplification of the Greek fiscal obligations framework.