Type: Legislation
The Greek Finance Ministry is determined to tackle a 20% VAT revenue gap by embracing digital strategies, inspired by successful models in Poland and Portugal. Progress is evident, with the gap already reduced to 15% and a further drop to 9% expected in the near future.
Greece’s efforts have earned it a place among the top four EU countries, alongside Hungary, Germany, and the Netherlands, in reducing the VAT gap.
Key measures include MyDATA transaction reporting to digitize records, plans for Greek e-invoicing by 2025, pre-filled VAT returns for easier compliance, and real-time point-of-sale reporting.
These measures are projected to contribute an extra €2 billion to VAT collections, signifying a significant stride toward enhancing tax revenues. Stay tuned as Greece transforms its tax landscape through digital innovation.
Effective date: 2025