MyDATA – Changes with Law 5073/2023 (Revenue Recognition, Expense Deduction, Fines)

• The article 4 of Law 5073/2023 introduces the implementation of electronic books (myDATA) to prevent tax evasion.
• Entities are required to electronically transmit data of issued accounting files, regardless of the method of issuance, to the Independent Authority for Public Revenue (AADE).
• The value of taxable transactions and revenues considered by the Tax Administration for determining VAT and income tax cannot be lower than those resulting from electronically transmitted documents to AADE.
• Discounts and expenses cannot be considered if the supporting documents have not been electronically transmitted to AADE.
• The Minister of Economy and Finance, upon recommendation of the Governor, will determine the transmission time, scope, specific obligations, and exceptions for entities without the necessary electronic infrastructure.
• Sanctions and fines are imposed for violations of the obligation to electronically transmit data to AADE, as specified in article 8 of the law.

Source: e-forologia.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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