Christos Dimas: Gradual reduction of allowable variance limits in VAT declarations and full abolition by 01.01.2025

• Gradual reduction and complete elimination of allowable variance limits when submitting VAT declarations by 01.01.2025
• The Ministry of Finance and the Independent Authority for Public Revenue are moving towards this goal to facilitate businesses in fulfilling their tax obligations
• New allowable variance limits for VAT declarations have been set for different tax periods
• The automation and digitization of tax processes through myDATA provide benefits for businesses and the state
• The digital reform aims to reduce tax evasion, enhance tax justice, and ensure fair competition among businesses
• Measures are being taken to limit virtual transactions and facilitate the submission of declarations using data stored in the myDATA platform.

Source: minfin.gov.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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