- Posted by: Maria Chasekidou
- Category: Accounting Services
- WHAT IS MYDATA PLATFORM
As of 01/10/2021, the myDATA platform entered into full operation, introducing mandatory and electronically transmission of data to myData’s digital platform by monitoring all incomes/expenses invoices of businesses.
- WHO IT CONCERNS
- SINCE WHEN
As of 01/10/2021, electronic invoicing through commercial ERP programs becomes obligation for:
- businesses that keep single- entry books and have a turnover of more than 50,000 euros/year (for the obligation in the 2021 year the turnover of 2019 is the one that it matters) or
- businesses which keep single-entry books and edit more than 50 sales – invoices per year.
- for businesses that keep double-entry books, compulsory electronic invoicing applies when they edit more than 50 invoices per year. In this case, the annual turnover does not play a role.
- WHAT IS NEEDED TO ADAPT TO MYDATA
- Upgrade or purchase of invoicing software (Data, invoices, will be sent in real time)
- Upgrading of tax mechanism and cashier to be able to transmit data to myDATA platform in real time. This measure mostly concerns retail sales and their transmission in real time.
- Use of the “timologio” platform by AADE, app & website. It is an application provided free of charge by the AADE for digital issuance of the company’s documents and their transmission to myDATA in real time. More information and videos with instructions for use can be found here: www.aade.gr/timologio
- In the sequel about the handwritten editing of invoices and their registration by the editor in the special registration form until the 20th day of the month following the date of editing. For more information and instructions for use click here. The form concerns businesses that keep single-entry books and the amount of gross revenues that they have made in the previous year does not exceed 50,000 euros. It also concerns businesses, which regardless of the kind of the books they keep, edit up to 50 invoices per year.
- We as accountants forward-upload to myData platform, your handwritten invoices, on your behalf through the special registration form described above in conjunction with our software. For this service there will be an additional charge depending on the type of transactions and the amount of documents.
- NEW OBLIGATIONS OF THE ACCOUNTANT
WARNING! The myDATA platform does not replace the books that businesses are obliged to keep (single or double entry). Businesses, based on Greek tax legislation, will continue to have the obligation to keep accounting books and therefore to record documents of income and expenses.
- WILL THERE BE ANY PENALTIES?