FINANCE

Fines loom for MyData dodgers

fines-loom-for-mydata-dodgers

The government is putting the finishing touches on the new regulations leading to the full and compulsory implementation of online bookkeeping. They concern fines for entrepreneurs who fail to use the MyData electronic platform for the invoices they issue.

So far legislation has not provided for any fines for taxpayers who have forgotten or deliberately refused to use online books, practically rendering the measure voluntary. Now, Finance Ministry sources tell Kathimerini, the necessary clauses are ready for ratification, though a small grace period of three months may be granted until they are activated.

The businesses that have not yet submitted their invoices from last year on the electronic platform of the Independent Authority for Public Revenue will be invited to do so without incurring a fine within a period the ministry will determine.

As of this April all enterprises will need to issue all their invoices and receipts online as well as forwarding them to the MyData application – otherwise they risk hefty fines. The revenue documents companies will issue until the day their forwarding becomes mandatory, will have to be uploaded on MyData by March 31.