By Vangelis Dourakis

Since the infamous electronic pricing has not yet become mandatory for all, the Ministry of National Economy and Finance “distributes” tax “bonuses” to those who optionally adopt this practice, before it is of course adopted as an obligation to all professionals. Already for a wide range of activities, the exclusive issue of an electronic invoice is required.

Thus, the provisions contained in the National Customs Code bill specifies that “package” of transactions for sales of goods and providing services, which will now be compulsory to issue an electronic invoice.

What are the tax “bonus” for business

These are transactions between domestic businesses (B2B), transactions with outside European Union (except retail sales), as well as all transactions related to public contracts and costs of the General Government (B2G).

However, in order to encourage businesses to immediately adopt electronic pricing before it becomes mandatory for all, strong tax incentives are offered, as it is foreseen that those entities who choose to apply exclusive electronic pricing prematurely, and in particular from the tax year 2025, 2025, will have benefits such as:

  • The expense for the initial supply of technical equipment and software required for the application of electronic pricing will be fully depreciated in its year, 100%increased. That is, a cost of market e.g. A 1,000 euro product will be recognized as an expense of EUR 2,000. The aim, according to the report, is to provide incentives to upgrade business infrastructure.
  • Correspondingly, the expense for the production, transmission and electronic archive of electronic invoices for the first calendar year of use will be recognized for deduction from gross business revenue, and 100%, that is, twice as much as its value.

These incentives are provided if a statement of use of the electronic invoicing (via the Ministry of Environment and Physical Planning or the Implementation of AADE) has been submitted no later than two months prior to the commencement of its mandatory validity.

What is the Ministry of National Economy and Finance seeking

According to the explanatory memorandum, the objectives of the interventions are:

– The simplification of data transmission procedures to the tax administration.

– The reduction of errors.

– The fight against VAT loss

– Enhancing the competitiveness of businesses by reducing their management costs.

– Real -time information on financial figures.

In addition, electronic pricing will facilitate the prediction of VAT declarations. and “statements of financial data from business – form E3”, reducing the bureaucratic burden.

The primary objective of the Ministry of National Economy and Finance and the AADE, however, is to combat tax evasion done through the swelling of business and professionals’ spending, with the inclusion of expenditure in their books, which result from virtual or fake invoices.