New additions to real-time reporting: Greece and Canary Islands
Both Greece and the Canary Islands will implement Real-Time Reporting as from January 01, 2019.
Following Spain and Italy, Greece is also proposing to introduce a real-time invoice reporting to the tax authorities from January 2019 for all companies related to the public sector, and limited liability companies. The system will probably be extended to all taxpayers from January 2020. Sales invoice details will need to be electronically submitted to the Greek tax authorities at the same time as being issued to customers. The customers must then electronically confirm live receipt with the tax authorities.
The Canary Islands will introduce the Immediate Information Sharing (SII) system as from January, 2019 for large businesses (turnover exceeds 6 million) or businesses registered in the monthly refund regime. Businesses can also opt to sign up voluntarily. Technical information is still pending.
When there are more details available we will let you know! So keep an eye out on our website.