Hefty fines for those who do not update myDATA

The new tax bill submitted in Parliament provides for exceptionally high fines for professionals and enterprises who do not send (or do not do so in time) the receipts they issue for their income and expenses to the Independent Authority for Public Revenue (AADE) through the ‘e-send’ electronic system.

As stipulated in Article 7 of the tax bill which is in public consultation, the fines will even reach 100,000 euros on an annual basis.

This provision has provoked strong reactions from accountants and businesses, who argue that in order for the state to be able to impose a fine, the system must first operate without problems.