The electronic invoice in Greece is now a reality and a pillar for the fiscal modernization of the Hellenic country. Following European Union initiatives, authorities have introduced a model based on real-time reporting and prior fiscal validation. This new framework obliges companies to issue and report their electronic invoices through the myDATA fiscal platform. Let’s see who is obligated, since when, technical standards, and how to implement an efficient solution.
What is the electronic invoice in Greece and how does the myDATA system work?
The Greek e-invoicing model revolves around myDATA, a government digital platform that centralizes companies’ accounting information. Likewise, since 2021, companies established in Greece must electronically report their accounting and fiscal data to this system.
The operation is as follows:
- The company generates the electronic invoice in its ERP or invoicing system.
- The invoice is transmitted to myDATA in near real-time.
- The system validates the fiscal information.
- The platform returns a unique invoice identifier (MARK).
- The validated invoice is sent to the final client.
Legal Obligation for Electronic Invoices in Greece
The mandatory nature of electronic invoicing in Greece is being progressive, with several phases depending on the type of transaction and company size.
B2G E-invoicing (Business to Government)
On one hand, it is already mandatory for public sector suppliers.
- Effective date: September 2023.
- Application: public contracts and government payments exceeding €2,500
- Format: European standard EN 16931.
Public entities can only accept e-invoices compliant with this standard.
B2B e-invoicing in Greece (between companies)
On the other hand, B2B invoicing in Greece becomes mandatory in 2026 following this implementation schedule:
The first few months will be an adaptation period during which different accounting systems or ERPs may coexist.
In turn, it affects :
- Domestic B2B transactions.
- Transactions with companies outside the EU.
For intra-EU transactions, for the time being, e-invoicing will remain optional if the counterparty does not accept it.
Which companies are obliged to issue e-invoices?
In relation to the above, the obligation applies to all companies subject to Greek accounting standards. Specifically:
- Greek companies with domestic B2B transactions.
- Companies that sell to the public sector (B2G).
- Foreign companies with a permanent establishment in Greece.
- Companies that issue invoices for goods or services subject to Greek VAT, as well as transport documents and credit notes.
Therefore, it covers practically all significant business transactions from a tax perspective.
E-invoicing standards and formats in Greece
To ensure interoperability and tax compliance, Greece requires specific technical formats and standards.
- Standards: EN 16931, structured XML, and integration with myDATA.
- Mandatory invoicing data, according to Greek legislation:
- Tax identifier of issuer and recipient.
- Description of the transaction.
- Taxable amount.
- VAT rate.
- Invoice total.
- MARK validation code.
- Fiscal QR code.
Integration with ERP and invoicing platforms
For multinational corporations, one of the challenges is integrating e-invoicing with the corporate ERP (SAP, Dynamics, etc.).
If the integration is done correctly, the process will be as usual: the ERP generates the invoice, the platform transforms it and sends it to myDATA via API or with a certified provider, the company receives the MARK identifier back, and finally, issues the invoice.
Benefits of ERP Integration
With this workflow, the process is streamlined and, at the same time, complies with regulations. To be more precise, ERP integration provides these benefits in Greece… and in any country:
- Automates tax compliance.
- Eliminates manual tasks.
- Consolidates global financial data.
- Offers centralized control for CFOs.
Impact of VAT on the Greek E-invoice
At the same time, the VAT control in e-invoicing is another aspect to discuss. The goal of digitalization is to reduce the VAT gap and combat tax fraud.
To do this, first, it is essential to be clear about what type of VAT applies in Greece.
Now, with the data in myDATA, the administration automatically verifies declared VAT, detects tax inconsistencies, and can pre-fill tax declarations.
In addition to VAT, the system also facilitates the control of special taxes, tax withholdings, and accounting obligations. Thus, it automates a large part of tax reporting, minimizing the administrative burden for companies.
Advantages of Implementing E-invoicing in Greece
Beyond all the regulatory reasons we have just cited, e-invoicing in Greece brings very interesting operational advantages for companies.
Here are a few:
- Eliminates manual processes.
- Shortens invoice processing time.
- Reduce data errors, tax inconsistencies, and duplications.
- Up-to-date legal compliance.
- Offers complete traceability of all operations.
- Works with centralized accounting data.
- Real-time financial reporting.
- Reduces administrative costs due to paper usage and storage.
How easyap Simplifies Online Invoicing in Greece
However, for multinational companies operating in Greece, implementation can present certain challenges. For example, adapting ERP, integrating myDATA, complying with multiple jurisdictions, managing various digital certificates, coordinating tax and financial departments…
This is where easyap, which is perfect in this scenario. Furthermore, we offer you the following.
- Legal compliance. We fully automate electronic invoice management in various countries, ensuring compliance with each local regulation.
- Technical and legal updates. We adapt to myDATA and many other platforms, in addition to providing support for EN 16931 and offering automatic updates in response to regulatory changes.
- Integrations with the best ERPs. In turn, easyap easily connects with the most powerful ERPs on the market. We also design a solution with advanced security (electronic signature, certificate management…).
- Complete automation of the invoicing cycle. Our solution allows you to generate invoices, validate them, send them to the client, and archive them electronically. This way, CFOs and financial managers maintain control of international tax compliance without increasing the operational burden.
Frequently Asked Questions about Electronic Invoicing in Greece
Is it mandatory to use myDATA for all invoices?
Yes. All companies subject to Greek accounting must transmit their invoice data to myDATA for tax validation.
Do foreign companies have to issue electronic invoices in Greece?
It depends. If they have a permanent establishment in Greece or are obliged to issue invoices with Greek VAT, they will have to comply with myDATA and Greek legislation.
Can invoices be sent in PDF in Greece?
PDF can be used as a visual representation, but it is not considered a valid electronic invoice if it is not reported and validated in myDATA.
What happens if a company does not comply with e-invoicing?
Authorities may impose penalties administrative or disallow deductions tax.
E-invoicing in Greece continues to advance. As with the rest of Europe, we are at a point where it is vital to have invoicing systems that comply with continental and local requirements. At easyap, we simplify this entire transition with security and efficiency, no matter how complex your sector and the regulations you have to comply with. Contact us and we’ll show you.
