e-bookkeeping for business, self-employed professionals to become mandatory in Greece as of 2020

Friday, 02 August 2019 21:05
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Bookkeeping and accounting practices for Greece's mostly SME-dominated private sector will be ushered into the 21st century as of 2020, with all forms of businesses and self-employed professionals obliged to transfer all transactions, figures, entries and all data to the tax bureau's online system, TAXISnet.

The measure, announced this week by the new finance ministry's leadership, essentially means mandatory "e-bookkeeping" in a country that up until a few years ago witnessed most taxpayers filing handwritten returns delivered by mail, and where most businesses kept handwritten ledgers of revenues and expenditures, along with mounds of paper invoices.

A pilot phase will begin in the autumn.

When the measure becomes comes on line, businesses in the country will be relieved of the obligation to keep a compiled record of customers/suppliers.

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