- Reconciliation of VAT Ledger with VAT Return 2 is necessary
- Differences between accounting records and VAT returns require reconciliation
- Reasons for differences include advances received from customers, reimbursement of expenses, damages/compensation received, disbursement of expenses, passive income, exchange rate difference, and accounting adjustments
- Reconciliation is important for early identification of discrepancies, readiness for FTA tax audit, and prevention/identification of backdated transactions.
Source: taxheaven.gr
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.
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