Gov’t wants e-invoicing for everyone

The government has applied to the European Commission for mandatory electronic invoicing by all businesses to the Commission after the completion of discussions with Brussels officials.

Athens is expecting the Commission’s response within September, after which the relevant provisions will be submitted to Parliament in order to start the implementation of the measure from January.

E-invoicing is the exchange of digital documents between two or more entities involved in a commercial transaction (business, government, individual). These documents are not only invoices, but may also include other “documents” such as purchase orders, debit/credit notes, remittances, payment terms etc.

For electronic invoicing, companies should choose the provider they want and 16 firms have already been certified by the Independent Authority for Public Revenue (AADE). As reported by the tax administration, it will also become a provider when the procedures are completed and it is compulsorily applied to the entire market. With the new procedure, VAT fraud and fictitious data should be minimized.