September 30, 2019

By 2020, businesses will be required to transmit tax data electronically to their TAXISnet system and also to keep their tax records electronically.

This measure will be implemented in trial within the coming weeks and will become mandatory for businesses from next year.

The tax filing system will automate the filing and submission procedures, with a focus on the gradual pre-filing of VAT and income statements, reducing the administrative costs for businesses, accelerating the process of paying corporate tax refunds, while simplifying tax audits. In addition, all businesses will be exempted from their current obligations, such as customer-supplier reporting.

At the online platform which will be created, each business will log in with the TAXISnet codes and passwords, will record and submit the invoices and receipts it issues, obtaining a Unique Registration Number for each transfer. At the same time, invoice recipients will see the invoices addressed to them in their e-books.