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The 4 important changes in Greece’s tax system

The finance ministry is proceeding with radical changes to the tax system, including the mandatory use of POS to all business sectors that carry out retail transactions, aiming at combating tax evasion and eliminating tax distortions and injustices.

In addition, the government is planning to proceed with more frequent, shorter and more efficient tax audits on businesses.

The 4 important changes in the tax system:

1) Mandatory use of POS in taxis, open-air markets and other retail business sectors by the end of 2023.

2) Changes related to the net taxable income of sole proprietorships with the implementation of the mandatory interconnection of cash registers with POS, the mandatory electronic invoicing and the mandatory declaration of all deductible expenses on mydata.

3) Changes in the calculation method of taxable income based on minimum living expenses and expenses for maintenance and use of houses, cars and boats.

4) Shorter, simpler and more efficient tax audits.