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All you need to know about myDATA in Greece

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What is My Digital Accounting & Tax Application – myDATA

myDATA is a platform created by the IAPR to digitalize the tax and accounting declarations of companies through the issuance of electronic accounting books.

The IAPR is implementing myDATA because it wants to facilitate tax compliance for companies and achieve greater transparency in their transactions. This will help foment an environment of trust between the tax authority and private companies and will reduce tax fraud and evasion.

The implementation of myDATA is a major leap in the digital transformation of the Greek tax authority.

What Companies Must Declare Taxes Through MyDATA?

All companies that conduct accounting according to Greek accounting norms.

What Tax Information Must be Reported Through MyDATA?

Companies must report:

  • Summary of revenue and expense documents (synopsis)
  • Classification of revenue and expenses by type
  • Enough accounting entries to determine end of year accounting and tax results (for example, payroll, depreciation, revenue / expenses accumulated at year end)

Besides facilitating the declaration of accounting and tax information through myDATA, two electronic books will be generated and updated:

  • (Detailed Book): contains the revenue and expense document data, the classification of these documents, and the accounting entry adjustments,
  • (Summary Book):  Document that reflects a company’s tax and accounting results in an aggregate manner based on information provided in the detailed book.

What is the Compliance Deadline?

  • From 1.10.2021 they must send their income documents, which they issue from this date onwards:

    • Businesses (natural and legal persons) with bibliographic books with a turnover of over € 50,000.

    • Businesses (natural and legal persons) with haplographic books with a turnover of over € 100,000.

  • From 1.11.2021, all other companies must submit their income documents.

  • Revenue receipts issued or will be issued by companies up to the date of commencement of mandatory transmission, must be transmitted to the myDATA platform no later than 31.03.2022.

It is noted that especially for 2021 the transmission obligation concerns only the income documents and not the accounting classifications of expenses.

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