- Greece’s VAT reform started in 2020 and includes three continuous transaction control (CTC) initiatives.
- The initiatives are the myDATA e-audit scheme, voluntary CTC e-invoicing, and new generation cash registers.
- The authorities are working towards making CTC e-invoicing mandatory for all B2B transactions.
- The myDATA e-audit system requires taxpayers to report transactional and accounting data to the tax administration.
- Greece’s myDATA is a reporting obligation and is not the same as e-invoicing.
- Greece has established an accreditation framework for e-invoicing service providers and introduced a voluntary e-invoicing scheme.
- CTC e-invoicing became mandatory for B2G transactions in September 2023.
- The use of CTC e-invoicing has indirectly become mandatory for B2B transactions as well.
- The Greek Ministry of Finance is in dialogue with the European Commission to discuss implementing a nationwide B2B e-invoicing mandate.
- Greece’s CTC initiatives align with the EU’s focus on increased governmental control over transactional and accounting data.
- Significant progress has been made, but there are still challenges ahead for the Greek government and businesses.
Source: sovos.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
