- A study by the Greek Independent Authority for Public Revenue (AADE) shows that POS payments have increased VAT revenues and improved transaction transparency, with the full integration of POS systems and cash registers expanding the tax base, particularly in the tertiary sector. The shift from cash to electronic payments uncovered undeclared transactions, boosting VAT revenues by at least 500 million euros, with the highest increases seen in catering, taxi services, accommodations, and car repair shops. The improved input-to-output ratio and higher assessed VAT reflect the effectiveness of the Ministry and AADE’s actions, with at least one-third of the annual VAT revenue increase attributed to better compliance, while the Deputy Prime Minister notes that these government initiatives have reduced tax evasion and delivered positive social impact.
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.
