Greece to introduce real time invoice reporting

6 June 2018

From 1 January 2019, Greece are proposing to introduce a new mandatory real time invoice-reporting regime that will apply to all companies that sell to the public sector and limited liability companies (“LLC’s”).

If introduced this new regime will require all businesses making these types of supplies, to declare the invoices to the Greek tax authorities at the same time as they are issued to the customer. The customer will then electronically confirm receipt of the invoice with the tax authorities directly.

It is hoped that this new invoice-reporting regime will prevent common errors on these types of invoices and also prevent VAT fraud in the country. If successful it will then be extended to all taxpayer transactions from January 2020.