MyDATA: Mandatory from today for all e-books

Mandatory for everyone, businesses, freelancers and the self-employed, are from today, November 1st, the e-books.

From now on, through the myDATA platform, hundreds of thousands of taxpayers will have to submit their invoices to the Independent Public Revenue Authority.

It should be noted that as from October 1, this is already the case for companies with bibliographic books and a turnover of over 50,000 euros as well as for companies (natural and legal persons) with haplographic books with a turnover of over 100,000 euros.

AADE, in order to facilitate the self-employed and the very small companies, activated the application of AADE timologio, which offers the possibility of issuing documents digitally with simultaneous transmission to myDATA. More than 10,000 professionals have registered in the online application and the number is increasing daily.

What is myDATA

MyDATA is the new electronic platform, with which AADE introduces e-books in the daily life of businesses. AADE e-Books are a very important step in the digital transformation of the Tax Administration and its relationship with companies. The aim is primarily to serve companies, providing a digital platform for the fulfillment of their tax obligations, which will lead to the automation of the completion of tax returns and will relieve them of obligations they have today, such as the submission of Customer – Supplier Statements. .

Along with reducing the administrative costs of businesses, AADE e-books enhance the transparency of transactions, offering a digital business collaboration environment for the pricing of goods and services. They also establish the credibility of the relationship between the Tax Administration and the companies and function as a mechanism for voluntary compliance and prevention of tax evasion and smuggling, as well as facilitating consistent companies in the return of taxes to which they are entitled.

Professionals should be aware of the following before making a mandatory transfer of revenue invoices to the myDATA platform:

1. Revenue receipts must be sent to the myDATA platform.

2. The income receipts issued from 1 January 2021 to 1 October 2021 or 1 November 2021 are transmitted to the AADE platform until 31 March 2022.

3. For the year 2021 there are no fines and penalties in case of non-transmission of data. By the end of the year, the Ministry of Finance is expected to submit to Parliament a legislative provision that will set the fines that will be imposed in case of non-compliance with the law.

4. For the transmission of documents can be used free of charge the application “timologio” for keeping e-books by freelancers and small businesses, which do not have a computer system for issuing and transmitting documents to myDATA or their system does not cover the daily their needs.

5. Through the application “timologio” following a few simple steps, professionals and businesses can:

configure their profile,

compose their clientele,

organize the products and services they price and

issue and save in pdf format all kinds of documents (invoices, receipts, etc.).

6. With the issuance of the documents through the “timologio”, the application sends simultaneously and automatically the summary of each transaction to the myDATA (income) of the professional and to the myDATA of the company – client (expenses).

7. The professional is solely responsible for the truth and accuracy of the issued documents.

8. The application does not send the issued documents to their recipient. Their submission remains the responsibility of the application user.