- The Ministry of National Economy and Finance and the Independent Authority for Public Revenue (AADE) have announced that it will be mandatory to fill in income, expenses, and corresponding taxes in the VAT declaration from January 1, 2024.
- The purpose of this requirement is to facilitate businesses in fulfilling their tax obligations and ensure compliance.
- The filling in of the fields will be based on the data transmitted to the myDATA digital platform and their accounting classification by obligated businesses for VAT declarations submitted from January 1, 2024, and onwards.
- The process for businesses to submit VAT declarations will be determined by a decision of the Deputy Minister of National Economy and Finance, Haris Theoharis, upon the recommendation of the AADE Director, George Pitsilis.
- The decision clarifies that the filling in of the fields is now mandatory for businesses when submitting VAT declarations.
- It is based on the data transmitted to the AADE’s myDATA digital platform and their accounting classification by obligated businesses for VAT declarations submitted from January 1, 2024, and onwards, covering tax periods from January 1, 2024, and onwards.
- It ensures that income cannot be less and expenses cannot be more than what is transmitted to the myDATA digital platform, with a deviation allowance of up to 30% for both income and expenses. The deviation allowance will be gradually reduced and ultimately eliminated.
- An alternative method of data transmission is provided for cases where there are objective difficulties in correlating data that reduce income or increase expenses, in order to ensure that VAT declarations align with the data transmitted to the myDATA platform.
- Specific provisions are made for income and expenses in the VAT declarations, including the transfer of amounts between different codes, the submission of additional income, and the use of alternative methods for cases of objective difficulties in correcting income or transmitting expenses.
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.
