Greece myDATA

What is myDATA?

The Greek government has implemented mandatory electronic invoice reporting and the Greek Independent Authority of Public Revenue (A.A.D.E) reated the myDATA portal. As of 1 November 2021, all businesses in Greece must comply with myDATA transmission rules

Through myDATA (my Digital Accounting and Tax Application) platform, AADE will:

• monitor all the company transactions that generate revenue and expense, and
• record the Tax and Fiscal results.

It contains two electronic accounting books (ebooks) belonging to the taxpayers. Taxpayers report summary documents, their classifications and accounting settlement documents to the myDATA in electronic XML format. Consequently the electronic books; Summary Book and Analytical Records Book are updated.

1. The Analytical Records Book: is where the data of revenue/expense documents

are recorded, the classification of the documents is done and finally the accounting results to achieve the Tax and Fiscal result for every year is recorded

2. The Summary Book, where the company results are shown on monthly and yearly

Basis. 

What information should companies report to myDATA?

There are three main types of documents to be reported to myDATA:

1. Summary Documents: The Issuer is obliged to send the summary of all the documents she issues (B2B-B2G-B2C-Wholesale and Retail). The recipient sends the summary of the documents received only in the below cases:

          a) Retail documents. 

          b) Documents for purchase of goods and services from companies non-liable to follow Greek                  Accounting Principles (e.g. individuals, foreign companies outside Greece)

          c)Documents for purchase of goods and services from an issuer liable to Greek Accounting                     Principles only if the submission deadline was missed by the Issuer.

    2. Classifications: Classification of summary documents into sales/purchase of goods and services. Both issuer and recipient are responsible to send.

    3. Accounting Settlement Records: The documents to reach tax results such as payroll, depreciation and income/expense settlement documents. Again both issuer and recipient are responsible to send.

What Companies Must Declare Taxes Through MyDATA?

All companies keeping accounting records according to the Greek Accounting Standards will have to comply. Non-resident companies will be out of scope.

How do I use the myDATA platform?

You can send the summary documents:

1. directly from your ERP accounting software, 
2. through a service provider, 
3. manually filling the online form (for small number of documents), or 
4. using electronic tax registers (only for retail documents).

You can send the classifications and settlement documents:

1. directly from your ERP accounting software, or 
2. manually filling the online form.

What is the Compliance Deadline?

The invoice reporting obligation in Greece began in 2021 with the implementation of the myDATA platform. Law 5073/2023 mandates the electronic submission of tax data to the myDATA platform, requiring taxable revenues and deductions to align with the transmitted information for transparency and compliance.

Is e-invoicing & e-bookkeeping mandatory in Greece?

MyDATA eBooks regulation has not changed the invoicing process between suppliers and recipients. This regulation will mandate the reporting of electronic XML format documents which contain summary data of invoices, credit notes, delivery notes, retail receipts and other accounting documents suppliers or recipients issue.

How would SNI be helpful with the MyDATA E-book system?

SNI myDATA SAP Solution will:

• handle reporting of all the e-documents issued in SAP automatically in real time.
• extract invoice data from myDATA to the SAP system. 
• Transfer unique invoice numbers (MARKs) to the expense documents
• Classify and send all the revenue/expense documents. 
• Transmit all the accounting settlement documents for tax and fiscal results. 

One software is able to do all the steps and ensures you stay compliant. Moreover, it saves significant time and costs with your business processes.

An end-to-end solution for streamlined processes: all three major components of digital tax reporting in a single SAP solution:

First, it starts from the required data retrieval. Then, this retrieved data needs to be mapped and processed in order to prepare it as the tax authority’s requested format. Finally, this converted data shall be submitted to the Greece MyData portal. SNI solutions cover all these three major components in one single SAP solution which you would not need to look for any other external third party employment.