In early 2024, cash registers will be linked to Point of Sale (POS) systems, affecting around 450,000 businesses. This ensures that every POS transaction is recorded in cash registers and data is transmitted nearly in real-time to AADE.
Starting in 2024, electronic invoices become mandatory to enable real-time cross-checking and verification of transactions. Tax authorities are also automating and digitizing their controls.
Electronic books (myDATA) are now universally applicable. Declared income must match electronic data (myDATA, cash-POS). Only electronically transmitted invoices to myDATA will count as expense invoices for tax purposes. MyDATA expansion will be completed in 2024.
Electronic payment systems (EFT/POS) are now required in retail sectors without the obligation. This expansion of electronic transactions increases VAT revenue, reduces “black” money circulation, broadens the tax base, streamlines audit processes, and lowers tax evasion opportunities.
Source: taxheaven.gr
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