Indirect tax ebook - Greece

Reporting

Resident companies

General
VAT returns are prepared for a 1-month period for business maintaining third-class accounting books. They are due for submission only by electronic means until the 26th of the next month to which the economic acts refer.

VAT returns are prepared for a 3-month period for business maintaining first or second-class accounting books. They are due for submission either by electronic means until the 26th of the next month to which the economic acts refer, or directly to the tax office until the 20th of the next month.

Annual returns may be submitted within 130 days from the end of the financial year for businesses keeping third-class accounting books and within 55 days from the end of the financial year for businesses keeping first or second-class accounting books.

The tax payable or recoverable is the difference between the tax due on income and the VAT recoverable on costs.

Recovery of VAT/negative VAT return

If a non-resident entrepreneur/taxable person does not make any taxable supplies in the Netherlands, in order to recover the VAT paid in Greece in the course of his business, a request for a refund should be filed in accordance with the Eighth or Thirteenth VAT Directive.

Penalties

General
Returns or payments, which are filed late, are subject to a surcharge of 1.5% of the tax to be paid for every month during the period the delay continues. The maximum penalty is 100%. For inaccurate returns the surcharge is 3% and for no submission is 3.5% and the maximum penalty in these cases is 200%.

Penalties can be appealed if there is reasonable excuse.

• Introduction
• Scope
• Registration
• Tax rates
• Reporting & filing
• General tax application/Time of supply