Insurance companies covering risks in Greece must now report their insurance policies annually to meet new obligations introduced by the Greek tax authorities.
A report is due by 31 March each year listing all the invoices declared each quarter during the previous calendar year. Approving the law back in 2016, the Greek tax authorities have only recently agreed and released the conditions of its implementation. Therefore, there is a need to submit annual reports for the years 2016, 2017, and 2018.
Whilst it’s not a significant amount of information that the Greek authorities require, insurance entities must ensure they can collect all the information needed upfront to meet this new requirement.