ADE: End to deviations in revenue and expenditure – Only through electronic books the taxation of businesses

End of the deviations in statements from 1 October 2024 the Independent Public Revenue Authority ( ), as at the end of September the transition stage ends and from there everything goes through electronic books. However, part of the expenditure (as opposed to what will happen on the revenue side) will be given by the ADE margin for another quarter (i.e. by 31 December 2024) the possibility of deviations at 5%. From 1 January 2025, taxation of incomes, businesses and freelancers will be done solely with the data of electronic books. This means that no other document on purchases and sales will be recognised by the IRS beyond those transmitted to myDATA platform, notes the Ertnews. This will also close the last window of deviations in revenue and expenditure in relation to the corresponding data in digital books, resulting in VAT and income declarations being pre-filled, ‘locked’ codes and tax automatically calculated. By zeroing the tolerable revenue deviations and costs, professionals will not be able to increase their costs, while on the contrary they will be able to declare higher revenue. In particular, taxpayers will be able to add other revenue and increase the amount of VAT to be paid in the event that they have issued sales invoices which have not been transmitted within 24 hours to the electronic application of the AADE due to a loss of connection or handwritten or special exemption was issued (e.g. due to very low annual turnover). However, cases of fictitious expansion of expenditure by companies and professionals will be eliminated as they do not have the ability to intervene in the data. The revenue and expenditure data posted to myDATA will be transferred without a change in the VAT declaration and thus will be pre-filled by AADE, a development that is expected to contribute to the reduction of the VAT gap, i.e. revenue lost by the State from the non-collection of VAT. At the same time, the electronic recording of data on receipts from sales of goods and services as well as the costs incurred by taxpayers will pave the way for the locking of the E3 codes on the basis of which taxable profits and income tax are calculated. The absolute use of electronic billing data opens the way for a new policy in the field of direct taxation, with the first interventions already announced. These relate essentially to ‘corrections’ (in the criterion of turnover, wage costs, company seat, etc.) in hypothetical taxation 730,000 self-employed persons.