The Independent Public Revenue Authority (AADE) is expected to send out thousands of e-mails this week to remind professionals and the self-employed that they must install the IRIS direct payment system by September 2.

Less than 400,000 professionals have connected

Despite the fact that at the beginning of August AADE had proceeded to send electronic messages to more than 294,000 professionals reminding them that they should link their professional account to IRIS, the latest available data from DIAS does not show optimism for achieving the goal it has set by September 2.

By Friday 22 August, just 393,000 professionals and self-employed people had gone through the above process, almost 50% of those obliged to register (about 800,000).

In the last 30 days (before the first e-mail was sent by AADE on August 8) the daily registration rate reached 427 professionals. Between August 8 and 22 (after the AADE messages were sent), the average daily rate of user registrations in IRIS P2B increased fivefold, reaching 2,173 registrations.

From the beginning of the year until August 22, the use of IRIS by professionals increased tenfold with approximately 300,000 transactions (290,931), while the amount traded through IRIS (for all products) in the same period reached 3.37 billion euros.

This year 5 new banks have been added to serve the IRIS P2P (P2P) and IRIS P2B service, bringing the total number of banks to 12 from 7 in 2023 and only 4 in 2021.

The fines

Based on the current schedule, those professionals who do not connect to the IRIS system by September 2nd will face a fine of 1,500 euros.

Also, in case of complaints from citizens for non-acceptance of payments with IRIS by professionals, these will be notified by the competent bodies to the AADE and the General Secretariat of Tax Policy in order to be taken into account during the planning and carrying out of controls, under their competence.

As already announced by the Minister of National Economy and Finance Kostis Hatzidakis, by March 31, 2025 the direct payment system will be extended to all businesses. The expansion concerns the entire range of transactions, both electronic and physical commerce.

What to watch out for

The IVAN that professionals and self-employed persons will choose during their registration must have been declared in the Register of Professional Accounts of AADE, in the digital portal myAADE www.myaade.gov.gr under the path Applications > Tax Services > Professional Account.

The limit of 500 euros per day for transactions through IRIS is applied per client and not to the total amount of payments that the professional can receive during the 24-hour period. For example, a professional can receive in one day 4 payments of 500 euros each (a total of 2,000 euros).

A fine of 1,500 euros is foreseen for those liable who do not register with IRIS by the deadline.

Through the IRIS direct payment system, customers can make payments without any commission, 24 hours a day and without the need to know the professional’s bank account number, or enter their debit or credit card details. They just need to know the professional’s mobile phone or VAT number or scan the QR code corresponding to the professional’s bank account.

Professionals receive the money instantly (in 2 seconds) even if the bank they work with is different from the client’s bank. They also pay an average of 50% lower fees compared to POS transactions.

Activating the service is quick and easy, via web banking or mobile banking of the cooperating bank.

It is worth noting that in the previous period, Mr. Hatzidakis had addressed a recommendation to the banks to increase the daily limit of using the IRIS system for consumers, to 500 euros for transfers to individuals plus 500 euros for payments to businesses, i.e. a total of 1,000 euros per day from 500 euros which is today.