The Independent Authority of Public Revenue (“IAPR”-"A.A.D.E.") introduces the institution of electronic bookkeeping in the daily life of businesses. It is clarified, that the regulation concerns all enterprises and other entities regardless of their legal form, size, category and book keeping method (single-entry, double-entry books), provided that they keep their accounting records in accordance with the Greek Accounting Standards (Article 1, of Law 4308/2014).
Namely, the obligation on enterprises to transmit data through electronic transmission is introduced as defined in the provisions of par. 1 of Article 20, of Law. 3842/2010. The data transmitted include:
- all documents issued per tax year (wholesale, retail, etc.),
- the cost documents received from issuers who are not obliged to transmit them on their behalf (e.g. Allah. purchases-retail costs, intra-community acquisitions, imports, etc.),
- income – expenses, settlement documents, that form the final accounting and tax result of each tax year (e.g. payroll, depreciation, income-expense adjustments, etc.)
It is pointed out, that with the introduction of e-books, accounting monitoring by the companies themselves does not cease, while the role of the accountant remains critical for the correct illustration of the transactions on the platform. All businesses, as well as freelancers, will be filling in their tax books electronically and by using a direct link to the “TAXISnet” website. An important parameter for the correct illustration of the accounting image of businesses on the platform is the obligation to transmit the characterization of expenses by an accountant, for those businesses that have a corresponding obligation for the annual income tax return.
The dates of transmission of the information are presented in the following table:
This digital project aims to harmonize the accounting records of the responsible companies with the e-books of (“IAPR”-"A.A.D.E.") Specifically, this would create a standardised e-book schema, supplemented with e-invoices, with monthly automated submission.
The Joint Decision of the Ministry of Finance and “IAPR”-"A.A.D.E.", is expected to be published soon in which the scope of application, the exemptions, the data transmitted, the time, the modes of transmission and the specific obligations of the businesses will be clarified.