Tax Updates: September 13th 2023

Consistent with our commitment to provide updated information on current tax issues, we set down below a brief overview of the provisions of the new Law 5047/2023, which transposes into Greek legislation Directive (EU) 2021/514 – DAC7.

In this edition (Download PDF , 0.21 MB)

• What is the purpose of the new regulations introduced for platform operators?
• What are the new obligations for platform operators?
• Who are the platform operators that are obliged to report?
• What are the activities performed through platforms that must be reported by platform operators ("Relevant Activities")?
• Which sellers must be reported by platform operators ("Reportable Sellers")?
• What data should platform operators collect on Reportable Sellers as part of their due diligence obligations?
• What is the timeline for completing the due diligence obligations?
• What is the timeline for the reporting of data to the competent authority?
• What data should Platform Operators report to the competent authority?
• What are the penalties for non-compliance?
• When do the new provisions become applicable?
• Apart from the provisions for platform operators, what other regulations does DAC7 introduce?
• Other provisions of the new law – Obligation of EFT/POS terminals to interconnect with the Independent Authority for Public Revenues (AADE) and submission of relevant Declaration of Compliance