E-Invoicing in Greece

Invoice Reporting System

myDATA – Electronic Books (Ηλεκτρονικά Βιβλία ΑΑΔΕ) is an invoice reporting system of the Independent Authority for Revenue – AADE. The system includes invoices, credit and debit notes, classifications (transaction types), payroll, depreciation, and other accounting settlement documents.

In addition to the myDATA requirements, Law 5073/2023 extended tax incentives for the implementation of e-invoicing by entities opting to use certified e-invoicing service providers during the 2023 and 2024 tax years. The incentives include:

• Two-year reduction in the statute of limitations.
• 100% super deduction for the initial purchase of equipment and software, as well as the corresponding expenses related to the issuance of e-invoices during the first year.
• Reduction in the tax refund processing time to 45 days, instead of the standard 90 days.

For these incentives to apply for tax years 2023, and 2024, the implementation process must be completed by December 31, 2023 and December 31, 2024, respectively.

Penalties for non-compliance

DISCLAIMER: These are penalties for non-compliance with reporting requirements:

• Failure to transmit summaries of invoiced revenue, self-invoicing expenses, proof of expenditure records, and other tax documents issued under special tax provisions: A penalty equal to 10% of the net value of each non-transmitted document, up to EUR 250 per day.
• Failure to transmit payroll records, depreciation, and relevant revenue and expense adjusting entries that determine an entity's accounting and tax results, or the classification of revenue data from the issuer's viewpoint or the recipient of the self-invoice, resulting in the characterization not being included in the relevant annual income tax return:
  
  • Penalty equal to EUR 250 per tax year for each violation for taxpayers subject to simple accounting.
  • Penalty equal to EUR 500 per tax year for each violation for taxpayers subject to double-entry accounting (bookkeeping).
• Transmission of summary data of a document by the issuer, following transmission of an omission or deviation by the recipient, resulting in a difference in value: A penalty equal to 5% of the net value if the original value transmitted is less than the actual value.

It is also provided that penalties for late transmission are 50% of the penalties for failing to transmit. Further, it is provided that if the same violation occurs within five years, the penalties are doubled, and if the same violation is repeated multiple times within five years, the penalties are quadrupled.