What is myDATA in Greece?
The government of Greece will implement mandatory electronic invoice reporting as of 1 January 2021. To this end, the Greek Independent Authority of Public Revenue (A.A.D.E) has created the myDATA portal.
Through Greece’s myDATA (my Digital Accounting and Tax Application) platform, AADE will:
- monitor all company transactions that generate revenue and expense, and
- record any taxable or fiscal outcomes.
This consists of two electronic accounting books (e-books) belonging to taxpayers in Greece. Taxpayers report their summary documents, classifications, and accounting settlement documents to the myDATA in electronic XML format. Consequently, the electronic books, the summary book, and the analytical records book are updated.
- The analytical records book is where data on revenue and expense documents are recorded, the classification of the documents is done, and finally the accounting results needed to calculate the tax and fiscal results for every year are recorded.
- The summary book is where monthly and weekly company results are reported.
What types of documents must be reported by issuers and recipients?
There are three main types of documents:
- Summary documents: The issuer is obliged to send the summary of all the documents that are issued (B2B-B2G-B2C-Wholesale and Retail). The recipient sends the summary of only the following documents:
- retail documents,
- documents for purchase of goods and services from companies that are not required to follow Greek Accounting Principles (such as individuals or foreign companies outside Greece),
- documents for purchase of goods and services from an issuer liable to follow Greek Accounting Principles only if the submission deadline was missed by the issuer.
- Classifications: Classification of summary documents into sales and purchases of goods and services. Both the issuer and recipient are required to provide this.
- Accounting settlement records: The documents needed to calculate tax results, such as payroll, depreciation, and income- and expense-settlement documents. Both the issuer and recipient are required to provide this.
Who is obliged to use the myData tax platform?
All companies keeping accounting records according to the Greek Accounting Standards will have to comply. Non-resident companies will be out of scope.
Reporting methods to myDATA
You can send the summary documents:
- directly from your ERP accounting software,
- through a service provider,
- by manually filling the online form (for small numbers of documents), or
- using electronic tax registers (only for retail documents).
You can send the classifications and settlement documents:
- directly from your ERP accounting software, or
- by manually filling in the online form.
When does the e-invoice sending start?
The real-time reporting of electronic invoices starts on 1 January 2021 for companies that use ERP accounting systems to issue e-invoices, or that manually create the invoices on the portal. The deadline for sending the settlement account records will be the same deadline as for submitting income tax declarations. In contrast, payroll statements will be sent by the submission deadline of the withholding tax return on salaries and wages.
Is e-invoicing and e-bookkeeping mandatory in Greece?
MyDATA e-book regulations are not going to change the current invoicing process between suppliers and recipients. Taxpayers can continue with paper and PDF invoicing. This regulation will mandate the reporting of electronic XML format documents that contain summary data of invoices, credit notes, delivery notes, retail receipts and other accounting documents that suppliers or recipients issue. So, it is important to
understand invoicing, and that myDATA e-book e-invoice reporting will remain a separate process in Greece.
How can SNI help with the myDATA e-book Greece system?
The SNI myDATA SAP add-on will:
- Handle reporting of all the e-documents issued in SAP, automatically and in real time.
- Extract invoice data from myDATA to the SAP system.
- Transfer unique invoice numbers (MARKs) to expense documents.
- Classify and send all the revenue and expense documents.
- Transmit all accounting settlement documents for tax and fiscal results.
One piece of software is able to do all the steps and ensure you stay compliant. Moreover, it saves significant time and costs with your business processes.
An end-to-end solution: all three major components of digital tax reporting in a single SAP add-on.
First, it starts with the required data retrieval. Then, this retrieved data needs to be mapped and processed in order to prepare it for the tax authority’s requested format. Finally, this converted data shall be submitted to the myDATA Greece portal. SNI add-on solutions cover all three of these major components in a single SAP add-on solution, which means that you do not need to employ for an external third party.