The drive to crack down on tax evasion is paying off and allowing the government’s finance staff to plan its next moves to cut taxes over the next three years.

The interconnection of cash registers with POS and the spread of electronic transactions, gradually in an increasingly wide range of economic activity, in combination with the controls of the AADE, paves the way for the achievement of the goal of increasing the annual revenue from tax evasion to 2 .5 billion euros by 2027.

Indicative are the figures for the course of tax revenues, according to which tin the first half of this year VAT revenues showed a 10.3% increase compared to the corresponding half of last year, a fact attributed to interventions related to the expansion of electronic transactions as well as to the development of the economy.

Characteristics for the expansion of electronic transactions and the increase in the turnover declared to the tax authorities from basic economic activities are the following figures announced by the Ministry of Finance:

– The turnover of transactions through POS in catering industry the eight months of January – August this year amounted to 5.5 billion eurossignificantly higher (by 700 million euros) than the turnover of 4.8 billion euros in the corresponding period last year. The Ministry of Finance estimates that on an annual basis this turnover will reach 7.9 billion euros, higher by 1.1 billion euros than last year’s equivalent (6.8 billion euros).

Also typical of the results from the increase in the use of electronic transactions is the increase in declared turnover in catering accompanied by an increase in declared tips by 400 million euros.

– In the branch of hair salons and in personal care services, the turnover declared via POS in the eight months of 2023 was 326 million euros, while in the period January – August 2024 it amounted to 371 million euros. In total, in 2024, it is estimated that the turnover of this sector will reach 575 million euros with an increase of close to 14% from last year.

– Sta taxi POS receipts jumped 177% compared to the same eight months last year. In particular, in the eighth month of this year, collections appeared 50 million euros against 18 million euros in the corresponding period last year. It is estimated that on an annual basis the total turnover through electronic transactions in this sector will rise to 73 million euros from 26 million euros last year.

The new interventions

This policy of the Ministry of Finance will continue, as Finance Minister Kostis Hatzidakis has announced.

So, from 2025 electronic invoices will be mandatory according to the decisions that have been announced, while the use of POS will be extended to the retail sales of more sectors of the economy.

Already the process for applying the new sticker to TAXIS is underway which will inform customers of the obligation of professionals to accept payments via POS.

It is indicative that, without the measure having yet been implemented, electronic transactions in TAXIS are moving at twice the rate compared to 2023.

Another one of the interventions that the financial staff will proceed with in the first quarter of next year is expanding the use of direct payment systems such as IRIS;in order to cover all businesses. According to the latest data, 3.3 million IVANs have been connected to IRIS.

The other side of the coin of reducing tax evasion is the rewarding consistent taxpayers.

K. Hatzidakis announced at the beginning of the week changes in the process of submitting tax returns based on which taxpayers who submit their tax return on time and pay the income tax in one go are rewarded with a higher discount.

Thus, the tax deduction from 3% that has been in effect until now increases to 4% if the declaration is submitted within the first month and a half of the deadline for submitting tax declarations, which is now fixed on March 15 and will be completed on July 15.