,

Greece Implements CTCs for Retailers with Online Cash Registers

Joanna Hysi
March 3, 2020

The upcoming tax reform in Greece is expected to manifest itself in three continuous transaction control (CTC) initiatives.

  1. The myDATA e-books initiative, which entails the real-time reporting of transaction and accounting data to the myDATA platform which will in turn populate a set of online ledgers maintained on the government portal;
  2. Invoice clearance, which is clearly beneficial for the Greek Tax Authority although no roll-out date has been published yet; and
  3. Online cash registers which will transmit sales data to the tax authority in real-time.

Earlier this month, new technical specifications were published for the online connection of cash registers with the government portal. From June 2020, all cash registers currently used in Greece must be updated to meet the new technical specifications (available in Greek) to be able to connect and transmit their transaction data to the government portal.

The technical specifications regulate two aspects:

  1. The frequency of data transmission. The data will be reported in real-time and up to once per day in batch.
  2. A QR code must be included in the receipts issued. Through a URL in the QR code, whose format and content are defined in the technical documentation, the tax authority can validate the receipts issued. The actual control process hasn’t been defined yet, but it’s understood that based on this QR code the tax authority will be able to compare the retail data from the cash register to the data registered on the myDATA platform.

These specifications are complementary to those published in late 2018, which mainly regulated the security and certification requirements of the new generation cash registers. This latest development is further proof that the Greek government is committed to moving forward with the CTC plans it initially outlined two years ago.

Take Action

Sovos has more than a decade of experience keeping clients up to date with e-invoicing mandates all over the world.

Sign up for Email Updates

Stay up to date with the latest tax and compliance updates that may impact your business.

Author

Joanna Hysi

Joanna is a Senior Regulatory Counsel at Sovos. Based in Stockholm and originally from Greece, Joanna’s background is in commercial and corporate law with research focus on EU law and financial innovation. Joanna earned her degree in Law in Greece and her masters in Commercial and Corporate from London School of Economics and Political Science (LSE) in London.
Share This Post

January 19, 2022
Infographic: France – Mandatory B2B e-Invoicing from 2023

Faced with a VAT gap of nearly €13 billion, France is introducing mandatory e-invoicing for business-to-business (B2B) transactions from 2023, as well as e-reporting of additional data types. Applying to all companies established or, for e-reporting, VAT-registered in France, this new mandate is complex. It will also require significant planning. According to the ICC, businesses […]

EMEA VAT & Fiscal Reporting
January 13, 2022
Brexit One Year On – What Do We Know?

The Northern Ireland Protocol regarding goods moving from Great Britain to Northern Ireland continues to cause problems, leading to calls to suspend it via Article 16. But at the same time, some NI politicians are looking to capitalise on the possibility of inward investment by companies that can benefit from being in both the UK […]

E-Invoicing Compliance EMEA VAT & Fiscal Reporting
January 6, 2022
Eastern Europe: The Rise of CTCs

In a blog post earlier this year, we wrote about how several Eastern European countries have started implementing continuous transaction controls (CTC) to combat tax fraud and reduce the VAT gap. However, it’s been an eventful year with many new developments in the region, so let’s take a closer look at some of the changes on the […]

EMEA VAT & Fiscal Reporting
January 4, 2022
Understanding IOSS – EU E-Commerce VAT Package FAQs

The EU e-commerce VAT package was introduced in July 2021. The new schemes, One Stop Shop (OSS) and Import One Stop Shop (IOSS) bring significant changes to VAT treatment and reporting mechanisms for sales to private individuals in the EU. In the last of our series of FAQ blogs, we answer some of the more […]

EMEA VAT & Fiscal Reporting
December 21, 2021
How to Manage VAT Changes

In our previous blog, we completed the compliance cycle with tax authority audits. However, that’s not the end of the challenges businesses face in remaining compliant in the countries where they have VAT obligations. VAT rules and regulations change as do a business’s supply chains – these need to be carefully reviewed and appropriate action […]