The landscape of global tax compliance is undergoing a profound transformation, with digitisation at its core. Greece stands at the forefront of this evolution, having introduced a comprehensive e-compliance framework that mandates electronic financial transactions and tax reporting. For ERP managers, CFOs, tax managers, and global tax directors, understanding and proactively addressing these shifts is not merely a regulatory obligation but a strategic imperative to ensure business continuity, avoid penalties, and drive operational efficiency.
At the heart of Greece’s e-compliance initiative is the myDATA platform, managed by the Independent Authority of Public Revenues (AADE), designed to enhance transparency, traceability, and efficiency in financial transactions. Operating under a Clearance Continuous Transaction Control (CTC) model, myDATA requires all documents to be validated through the platform before reaching the recipient. This ensures real-time oversight, but also places a significant burden on businesses to adapt their systems and processes.
The phased implementation of these mandates underscores their critical importance. E-Bookkeeping through myDATA became mandatory for all accounting entities in July 2021. Looking ahead, mandatory B2B e-Invoicing is set to commence on 1 July 2025. Furthermore, the e-Transport (e-Delivery) system, a key component of myDATA, has been restructured into two phases, with voluntary adoption beginning in June 2025 for certain businesses and becoming fully mandatory for all myDATA-covered taxpayers from 1 December 2025. These phased extensions offer valuable preparation time, but demand immediate action.
For successful compliance, businesses must grasp the operational intricacies. Documents must be transmitted via myDATA in standardised XML format. While large enterprises can leverage automated real-time integration through their ERP or accounting software, and B2B/B2G transactions can utilise Certified E-Invoicing Providers (ΥΠΑΗΕ) and Peppol/KED interoperability, smaller businesses (under €50,000 turnover) have the option of manual upload via the myDATA Online Portal. However, manual submission carries a higher risk of error and inefficiency due to the need for meticulous attention to format, deadlines, and data accuracy.
The specific requirements for B2B and B2G transactions highlight the need for tailored approaches. B2B invoices are issued in XML format, sent to myDATA for real-time validation, assigned a unique MARK code upon approval, and then returned to the issuer for forwarding to the recipient. B2G invoices, on the other hand, must adhere to Peppol standards (specifically Peppol BIS Billing CIUS 3.0 format) and are reported to myDATA for validation before submission through the Peppol network, which the Greek KED system is aligned with. Crucially, businesses must ensure compatibility with Peppol standards for B2G transactions. The integrity of e-documents is further underpinned by mandatory data fields, including issuer and recipient details, VAT breakdown, payment terms, and the essential MARK code. E-Delivery documents also feature specific mandatory fields, which vary between Phase A and Phase B, necessitating precise data capture.
In navigating such a complex compliance landscape, finance and IT leaders frequently encounter significant challenges that can derail compliance efforts and incur substantial costs. One prevalent issue is Data Complexity. Organisations often struggle to efficiently process diverse data types from various systems to meet strict e-compliance standards. An effective solution should be able to work directly with raw data, without imposing ERP dependencies, templates, or add-ons, ensuring flexibility, accuracy, and scalability for local regulations [This is a general tax technology challenge and solution; the sources indicate Greece requires specific XML formats, meaning the solution needs to handle this specific data complexity effectively].
Another critical area is Tax Master Data Compliance. Ensuring that all master data meets the stringent e-compliance standards is paramount to avoiding penalties, streamlining reporting, and achieving audit readiness. Identifying and rectifying data gaps proactively is essential [This is a general tax technology challenge; the sources indicate myDATA validation and penalties for non-compliance, supporting the need for accurate master data].
The dynamic nature of tax regulations also presents a continuous hurdle: Changing Mandates and Models. Staying abreast of evolving regulatory changes, such as the postponement and restructuring of Greece’s e-transport system, requires constant vigilance. A robust solution should offer automatic updates aligned with regulatory changes, allowing the platform to evolve seamlessly with new tax rules without requiring significant internal effort, thereby ensuring continuous compliance [This is a general tax technology challenge; the sources mention AADE publishing guidance and updates, confirming the dynamic environment].
Furthermore, Validation & Error Handling remains a key concern. Submitting error-free data is critical to prevent validation failures on myDATA and avoid fines. An ideal system provides clear, non-technical error messages that allow users to fix issues without needing IT support, thereby ensuring smoother, error-free submissions [This is a general tax technology challenge; the sources highlight the risk of error with manual entry and the importance of data accuracy for myDATA validation].
While Greece’s mandates focus on specific XML and Peppol formats, businesses operating globally also contend with the need for Multilingual and multi-currency support for invoicing and reporting, alongside Multi Format Invoice Generation to ensure compatibility across diverse countries and industries. A comprehensive tax technology solution should support these capabilities to facilitate global compliance [This point goes beyond the specific requirements of the Greek sources, focusing on general global tax technology challenges that a leading provider would address].
The penalties for non-compliance in Greece are substantial, ranging from €100 per unreported e-Delivery document to 10% of the net invoice value for unreported e-invoices, with additional fines for late transmission and escalated penalties for repeat offenses. The loss of VAT recovery rights and potential tax audits further underscore the financial risks. Businesses are also responsible for archiving documents for five years, as myDATA does not store full records.
In conclusion, Greece’s e-compliance mandates represent a significant shift that demands proactive engagement from businesses. Leveraging automation through ERP integrations or certified providers, ensuring adherence to XML and Peppol standards, and accurately managing MARK codes are critical steps for smooth compliance. For ERP managers, CFOs, tax managers, and accountants, this transformation is not just about meeting deadlines; it’s about integrating compliance seamlessly into your business operations to gain efficiency and maintain strong relationships with tax authorities.
How RTC Can Help
As a leading provider of tax technology solutions, RTC specialises in guiding businesses through Greece’s complex e-compliance environment and the broader landscape of digital tax reporting. Our comprehensive services are designed to simplify this complexity and provide you with the tools and knowledge to comply efficiently.
We offer:
Customised Compliance Assessments: Tailored evaluations to understand your specific business needs and identify compliance gaps.
myDATA Integration Solutions: Smooth integration of your ERP systems or e-Invoicing providers directly with the myDATA platform, ensuring automated, real-time compliance.
Regular Updates: We keep you informed of the latest regulatory developments and technical specifications published by AADE, ensuring your systems are always aligned with the newest requirements.
End-to-End Support: From initial setup to long-term compliance maintenance and audit readiness, we provide comprehensive guidance.
Solutions for Key Challenges: RTC’s platform addresses common challenges like data complexity by efficiently processing diverse data without ERP dependency, ensuring tax master data compliance by identifying and fixing gaps, and adapting to changing mandates through automatic updates. We facilitate error-free submissions with clear validation and error handling, and our broader solutions support multilingual, multi-currency, and multi-format invoice generation to serve your global needs [Information drawn from user prompt for RTC capabilities].
RTC aims to bridge the gap between tax, IT, finance, and operations, enabling real-time clearance and ensuring your business not only meets tax requirements but also gains operational efficiency and stronger business relationships. We are committed to being your trusted partner, providing the insights and innovations necessary to navigate this transformative period with confidence.
