Ministerial Decision A. 1020/2024 was published on 6 February 2024 specifying the new rules on the submission of VAT returns on the basis of data transmitted to myDATA digital platform as introduced by virtue of Law 5073/2023.
Given the full implementation of myDATA reporting as of 1 January 2024, a new process is established for the submission of VAT returns; they will be pre-populated with the revenue and expenses data uploaded to myDATA platform, as well as with their classification. For this purpose, a “revenue rule” and an “expense rule” are introduced, which provide that revenues declared in the VAT return cannot be less than those reported on myDATA platform and, accordingly, expenses declared in the VAT return cannot exceed those reported on myDATA platform. Of course, higher amounts of revenues and lower amounts of expenses, respectively, can be reported without any limitation in the VAT return.
A maximum deviation limit is provided in relation to the above thresholds, which applies per tax period on the total revenues and expenses declared. The allowed deviation percentage set by the Decision is 30% on the revenues and 30% on the expenses per tax period, compared to the value of data transmitted to myDATA platform.
The Decision also clarifies that transfers between different codes of the VAT return is possible provided that the total value of revenues and expenses declared is not affected. Timing differences arising for the expenses part are also possible. In the latter case, the timing differences will be settled either in the VAT returns of the following tax period or via filing of amending VAT returns in the period of reference but, in any case, within the fiscal year concerned.
Further guidance is also provided in cases of objective transmission difficulties or correlation discrepancies of the data pre-completed in the VAT return with those reported on myDATA platform. In such case, uploading of data under an alternative transmission method bearing special classification is provided, so as to bridge such uncorrelated differences in the VAT return of a relevant month.
The above rules are effective for tax periods starting as of 1 January 2024, hence the new submission process captures the VAT returns to be filed for the January 2024 period onwards.
Our firm is closely monitoring developments and is actively supporting the set-up and implementation of myDATA reporting, covering all tax and accounting aspects of the applicable framework.
