- Introduction of myDATA Platform: Greece’s e-compliance initiative is centered around the myDATA platform, requiring real-time validation of electronic documents through a Clearance Continuous Transaction Control (CTC) model, significantly enhancing transparency and efficiency in financial transactions.
- Phased Implementation Timeline: E-Bookkeeping became mandatory in July 2021, with B2B e-Invoicing set to begin on July 1, 2025, and the e-Transport system transitioning to full compliance by December 1, 2025, demanding immediate action from businesses to adapt their systems.
- Compliance Challenges and Penalties: Businesses must navigate data complexities, ensure tax master data compliance, and stay updated on changing regulations to avoid substantial penalties for non-compliance, which can include fines, loss of VAT recovery rights, and increased scrutiny from tax authorities.
Source RTCsuite
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- See also
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
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