VATupdate

Incentives for e-invoicing

Greek authorities have issued a bill which include a clause on the incentives if companies implement e-invoicing (see art. 48).

Incentives are:

  • the statute of limitation period for the tax administration to issue an act of administrative, estimated or corrective tax assessment is reduced to 2 years (from 5 years)
  • the expenditure for the initial procurement of technical equipment and software required for the implementation of electronic invoicing is fully amortized in the year of its realization (increased to 100%)
  • the expenditure incurred for the production, transmission and electronic archiving of electronic invoices for the first year of issuance of electronic invoices is fully deductible (increased to 100%)
  • the deadline for the completion of tax refunds to companies is reduced from 90 to 45 days

Source Bill 4701/2020 (art. 48)

Unofficial translation in English

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