The technical specifications, noting and differencing two new types of Tax Electronic Mechanisms (FEM), are determined by a decision of the AADE's Giorgos Pitsilis. This is the distinction between the Tax Electronic Marking Mechanism of General Type (FIMAS, i.e., fiscal devices for regular sales), and the Restaurant FIMAS: FIMAS, like general-purpose devices, provides users with new capabili... Read more

The Greek digital My Digital Accounting and Tax Application ("myDATA") invoicing and bookkeeping regime is being updated for users reporting via ERPs. The new requirement from the Greek tax office, AADE, for transmission of summary data will switch to live reporting (effectively the same day of sales invoice issuance) from January 1st, 2024. This means that users of ERP solutions will need to comp... Read more

The latest Decision of the Ministry of Finance and AADE, A. 1188/2022, "Improving data transfer to myDATA," includes updates that make significant adjustments to the data transmission timelines and industry-specific and other connected specifications. These updates can be seen on the list below: From January 1, 2024. the transmission of the summary of transaction documents via business manageme... Read more

On December 31st, 2022, Greek authorities published in their Official Gazette an update of the Fiscal Device—EFT Terminal Interface Communication Protocol that was first published in July 2022. The final version of the newly amended regulation, A.1190/2022, is published as follows: - Amendment of the Governor's Decision A.1098/13-7-2022, "Definition of Technical Specifications (Communication Pro... Read more

The draft for Budget Bill 2023 was submitted and accepted for consideration by the Greek Parliament.  One of the primary goals of the government for 2023 is the acquisition of investment grade debt, which is important for this current period as bonds tend to yield in the eurozone. In relation to VAT rates, the budget bill for 2023 covers the following topics: The decision to extend the reduced... Read more

Interventions in taxation are being considered in Greece, as until now in this country's tax legislation there was no specific tax regime that governed the profits obtained by taxpayers from capital gains from the sale of cryptocurrencies. After the undeclared profits from "Airbnb-type" rentals,  the Independent Public Revenue Authority (TA) is now trying to "hand in," i.e., start to tax the profi... Read more