Mandatory e-invoicing pilot for Greece

Greece has a VAT gap of 29%; this is one of the highest in Europe.

It is hoped that with the introduction of e-invoicing, this will allow the country to get this VAT gap under control. The Independent Authority for Public Revenue Authority (IAPR) was tasked with studying other countries and creating a framework for Greece to adopt.

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In August 2018 the IAPR proposed a nationwide e-invoice mandate that would be similar to the Italian model. This was not given the green light as it would require exemptions by the EU Commission from certain provisions of the Directive and it was unclear if Greece would qualify for approval from the EU, so no formal request was submitted to the Commission.

The IAPR began working on a different model that was more focused on bookkeeping/accounting requirements. This new model would require the sending of electronic invoices to IAPR and is more focused on the buyer’s ability to correctly account for purchase invoices.

The current ruling party in Greece, Syriza, recently lost in the national elections. IAPR is an independent authority but as it stands right now, the results of this election may have an effect on the plan to proceed with the e-bookkeeping plan or their e-invoicing model or go with neither and come up with a third approach.

It is believed that Greece will not entirely dismiss the idea of e-invoicing but the question remains, which model will be implemented.

If you have any questions regarding the possible introduction of mandatory e-invoicing in Greece, or any other VAT related questions, you can speak to our experts below.

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