Obligation of the taxable persons to submit electronic VAT return forms

The Council of Ministers has recently passed a Regulatory Act in relation to the electronic submission of the VAT return forms by a taxable person. This means that the VAT return forms must be submitted only electronically using the TAXISnet system for VAT. The aforementioned new regulations amending the existing VAT legislation were published in the Government Gazette, making online filing of VAT returns using the TAXISnet system compulsory as from 2 May 2017. This change aims to modernise and simplify the process of the VAT return forms submission and simultaneously reduce the administrative costs of both the VAT authorities and the taxable persons.

Our Indirect Tax expert, Andreas Prodromou, is at your disposal to provide further information concerning the above update as well as any technical assistance required with regards to registration and use of the TAXISnet system.