The Independent Public Revenue Authority is proceeding with the submission of a monthly VAT statement for all businesses.

Specifically, by decision of the Governor of AADE, George Pitsilis, the time of submission of VAT declarations for newly formed companies that have a simplified accounting system for their first two years of operation is amended.

Specifically for businesses with launching work:

• From 1/4/2025 onwards, the VAT statement will be submitted on a monthly basis, regardless of whether a simplistic or duplicate accounting system is maintained.

• From 1/1/2024 to 31/3/2025, the submission of the VAT declaration will be made monthly, from 1/7/2025.

• Until 31/12/2023, VAT statement will be submitted on a monthly basis, optional, from 1/10/2025.

After completing 24 months from the time of commencement of their work or 12 months after the selection of the monthly tax period, businesses will be able to choose the quarterly VAT statement.

In addition, for any subsequent optional change (from a quarterly tax period to monthly and vice versa), the stay is 12 months after each change.

The monthly submission of VAT returns contributes to the treatment of tax evasion, preventing cases of businesses that, after a short period of operation, interrupt their operations without fulfilling their tax liabilities and other taxes.

At the same time, optional submission of a monthly submission and payment of VAT is expected to help businesses manage their cash and will reduce the risk of inability to pay VAT.