The timetable for the interconnection of cash registers and POS with Taxisnet

2024 is expected to be a landmark year in terms of tax administration, since, barring a shocking contingency, the interconnection of cash registers and POS machines with the Taxisnet system will become a reality, which will significantly change the way the market operates and, of course, will make the work of the tax administration easier.

But this is not the only thing that will change the daily tax life of businesses and professionals. Another important change is pre-filled VAT returns, which means that income and expenditure will be locked in from now on. No professional will be able to declare less income, but also no more expenditure than what has been passed on to MyData. What does this mean in practice? That electronic books are now becoming absolutely mandatory and anyone who does not go through the system will face serious problems in their daily life and in their relationship with the tax authority.

The third axis is the controls that are expected to intensify in the coming period and to be more targeted at professional categories with a high tax interest.

No further extension for cash registers

The Ministry of Economy and Finance states in an absolute manner that no new extension will be given and the interconnection of cash registers with POS, a measure that is one of the challenges of 2024 for the financial staff, will be completed in the first months of the year.

The current timetable foresees that the interconnection procedures should be completed by 29 February 2024 and from 1 March 2024 cash registers and POS should be «flesh and blood».

In order to avoid delays, a Special Working Group has been set up to monitor the implementation of the project «Interconnection of Electronic Cash Machines with POS systems and with the A.A.D.E.».

It is noted that almost all categories of professional sectors in the retail market must now accept card payments, while all self-employed persons must have a business account and accept direct payments through the IRIS system.

The compulsory use of POS was extended to 35 professional sectors, from farmers' markets and fairs to kiosks, taxis, convenience stores, insurance and advertising companies, theatres and cinemas.

Although the measure is effective from 1 January, professionals who still do not have a POS can avoid the fines until 1 March 2024, provided they have verifiably ordered their POS by 31 January 2024 and are waiting for their configuration and installation by the cooperating banks. Once this deadline has passed, the anticipated fines may even reach up to EUR 1,500.

Locked VAT returns

VAT returns submitted by businesses and self-employed persons will be «locked» from the beginning of the year. That is, the revenue submitted in the VAT return cannot be less than that transmitted to the myDATA digital platform and, correspondingly, the expenses submitted in the VAT return cannot be more than those transmitted to the myDATA digital platform.

The codes of the VAT returns will be automatically pre-filled by the AADE based on the data posted on the myDATA platform and taxpayers will not be able to intervene to modify the data as the pre-filled data of the returns will be locked. The pre-filling and locking of return codes starts from VAT returns to be extended in 2025 to income tax returns.

Targeted controls by the ADPE

In 2024, the Hellenic Revenue Service is expected to intensify every available «weapon» it has in its quiver on the front of tax audits. The audit mechanisms will target more taxpayer categories in which there is traditionally a large amount of tax material that is concealed.

The perimeter of taxpayers under scrutiny is narrowed by the implementation of the tax bill, as audit mechanisms are freed up to focus their attention exclusively on those areas where the chances of catching large amounts of concealed tax are maximised.

In this context, a series of tax audits, investigations and cross-checks will be carried out, which have been planned for 2024 by the Hellenic Revenue Service, activating new electronic weapons to combat tax evasion and identify undeclared income.

There is a plan for at least 73,000 tax audits to be carried out by the control mechanism. All kinds of economic activity, of individuals and companies, is targeted.

Thanasis Papadis