NEWS

Tax office enters digital age

PROKOPIS HATZINIKOLAOU

TAGS: Technology, Taxation

Businesses that fail to replace their old cash registers with a machine from a list of 179 models by June 1 will face fines of 500 euros per tax audit, according to the Independent Authority for Public Revenue (IAPR).

The move comes as part of the bid by IAPR to directly link cash registers to the Taxisnet system so that the tax authorities can see transactions taking place in real time.

According to IAPR head Giorgos Pitsilis, 2020 is the year of digital change.

More specifically, within the current year, tax authorities will proceed with a long list of changes, including the enabling of electronic invoicing.

Indeed, the decision on the e-invoice format and e-invoicing providers is in the process of being signed.

Moreover e-books will be activated, with much of the business world having already been informed of the changes that will be made.

According to the Finance Ministry, the relevant decisions will be signed in the coming days to start the mandatory use of electronic books.

Furthermore, the automation of the audit procedures will immediately unlock income tax and value-added tax (VAT) refunds that companies which are consistent in their obligations are entitled to. These companies are currently required to wait for the tax refund.

At the same time, the e-books will lead to the automation of the filling of tax declaration forms, thus freeing businesses and professionals from the arduous task of submitting aggregated customer-supplier statements.

The name of the new electronic platform will be MyDATA – My Digital Accounting and Tax Application.

Under the new system, all businesses and freelancers will have to declare their invoices and complete their books electronically in direct contact with Taxisnet.

Pitsilis has also not ruled out the possibility of introducing a system allowing for automatic corrections by the tax authorities of erroneous tax clearances they may have issued, sparing citizens of all the associated hassle.

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