Finance Ministry targets extra €2 billion VAT collections from digitalisation of reporting
The Greek Finance Ministry is aiming to improve on the nearly 20% VAT gap losses in tax revenues from a range of measures. Greece is looking to emulate the success of Poland and Portugal’s digital reporting strategies, including e-invoicing and SAF-T transaction reporting. Some of these measures are already in-flight, which has helped bring the forecast gap down to 15% today, and 9% in the next few years.
Based on the EC latest data, Greece was among the four EU member-states with the best performance in reducing VAT gap, after Hungary, Germany and the Netherlands.
The measures include
- MyDATA transaction reporting to help build digital ledgers
- Potential Greek e-invoicing in 2025
- Pre-filled VAT returns
- Point-of-Sale live reporting
EU Digital Reporting Requirements
The ongoing EU VAT in the Digital Age proposals includes a strand around harmonised Digital Reporting Requirements (DRR) and Continuous Transaction Control (CTC) across the member states.
