As we previously reported, the mandatory submission of income and expenses became effective from 1.1.2024 since the data reported to the myDATA platform and the data declared in the VAT returns must match and, ultimately, no modifications in the pre-filled VAT amounts will be permitted by taxpayers. Consequently, the pre-filling of VAT returns with the data collected through the myDATA system has now become binding for businesses subject to the myDATA obligations.
More specifically, the income included in the VAT return shall not be less and the expenses shall not exceed those transmitted to the myDATA. In addition, no deductions of input tax shall be allowed on invoices and other documents that have not be reported to myDATA.
The procedures and details of implementing this obligation, such as the time of transmission, the extent of application, the specific obligations for businesses and exceptions have been specified in Decision 1020/2024 of the Ministry of Finance.
The Decision allows for the possibility to modify the pre-filled amounts up to 30% of the value of the reported documents for income and expense, and only if there is due to a technical inability to send the required data, a force majeure, or other objective difficulty caused without the fault of the taxpayer. However, the authorities will review this percentage in the coming months with the objective to gradually reduce it to zero.
If you want to know more about the Continuous Transaction Controls (CTCs) adopted by the Greek government to advance its VAT reform, from e-audit measures (myDATA) to e-invoicing, head to our blog here.
