Mandatory electronic reporting of accounting documents to Greek Revenue Authority (AADE) has been postponed to 1 January 2020. The previous date for taxpayers who keep accounting records according to Greek Accounting Standards was 1 October 2020.
According to the statement made by AADE, the primary reason is Covid-19 which made the businesses struggle with their processes. However, it is known that the Mydata system needs some regulatory and technical changes to be completely ready. Also, Greek businesses are struggling with adapting their ERP system to the new electronic reporting system due to its complexity.
It seems that businesses will start the e-invoice reporting process as real time from the beginning of the new year. Businesses with a small number of invoices up to 50 invoices per year could create the e-invoices directly at my data portal. However, the rest of the business will have to update their ERP system to send revenue and purchase invoices and their respective transaction classifications in a phased manner to the government's portal. Electronic books of the supplier and buyer will be updated accordingly. For the reconciliation, the tax data of e-books and vat returns ( which is submitted separately) are compared and any discrepancies are delivered as a message through mydata system. If the discrepancy has not been solved by businesses until the reconciliation period deadline, the Revenue Authority may impose fines following an audit.
SNI Greece E-books SAP add-on will be able to do all the steps automatically with connecting your SAP to the Mydata portal. Two-way communication between a company and mydata is guaranteed which enables smooth transmission of outgoing and incoming invoices.
For more detailed information about Greece MyDATA E-book please read our blog post here: https://snitechnology.net/blog/long-awaited-the-greek-saf-t-is-on-the-home-stretch-now-with-mydata/