New Greek VAT penalty regime for 2014

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15 January 2014

Below is a summary of new fines and penalties in force in Greece from the start of this year.

1) 100 Euros in the event of non-submission or overdue null statement of intrastat listing or null VAT. If the same offense reoccurs within five (5) years then the fine is doubled and in the event of a second re occurrence the fine is quadruplicate.

2) Fine of overdue submission.

If any amount of tax is not paid at the latest within two (2) months after the expiration of the legal deadline of payment, the fine is calculated equal to ten percent (10%) of the tax that hasn't been paid within the deadline. After the passing of one year from the last day of the legal deadline payment date the above fine goes up to twenty percent (20%) of the tax. After two (2) years the fine goes to thirty percent (30%) of the tax. The fine of the previous paragraphs is calculated and in the event of overdue statement submission relating with the date when the deadline of submission ended.

3) Fine for inaccurate statement. If the amount of the tax resulting from the tax return differs from the tax amount resulting from the revised specification that was administered from the tax authority, then the taxpayer is subject to a fine based on a difference as follows:

a) Ten percent (10%) of the amount of the discrepancy, if the certain amount varies in percentage from five (5%) to twenty (20%) percent of the tax that results according to the tax statement,

b) thirty percent (30%) of the amount of the discrepancy, if the certain amount exceeds in percentage twenty percent (20%) of the tax that result according to the tax statement,

c) one hundred percent (100%) of the amount of the discrepancy, if the certain amount exceeds in percentage fifty percent (50%) of the tax that results according to the tax statement and is proved that the inaccuracy is due to intention of the tax payer.

In the event of non-submission of statement from which it results obligation of paying tax, a fine is imposed equal to the amount of the tax that corresponds to the non-submitted statement.

4) Increment or interest from the next day after the ending of the deadline of the statement submission of 8.25 %

5) Infringements of tax evasion

1. For the purposes of the Taxation Code the term tax evasion is defined as:

The non-attribution, inaccurate attribution, offsetting, deduction or holding of VAT and withholding taxes, charges or contributions, as well as non-submission of statement or submission of inaccurate statement with the intention of not paying the above taxes, charges or contributions, insomuch it is provided from the conditions of the tax legislation regarding taxes that fall into the applicable field of the Code. For the application of the present case, as non-submission, inaccurate submission, offsetting, deduction or holding is considered as the non-submission, inaccurate submission, offsetting, deduction or holding, for every fiscal year or financial period and each taxation of at least ten thousand (10.000) euros, if it concerns physical persons or obliged of maintaining B and C category books and at least sixty thousand (60.000) euros regarding the obligation of keeping double entry books.

The enforcement of fines and all the procedures that are provided according to the Code are independent from any penal sanction and any penal procedure that is anticipated from any other law.

View more information on other countries, or find out more about VAT.

 
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