Digital Customer Registry: What changes in weddings, baptisms, and receptions
Greece's new Digital Customer Registry expands into the events sector to enhance tax oversight and combat tax evasion.
Greece is set to implement an expanded Digital Customer Registry that will now include businesses in the events sector, including those providing venues and catering services. This initiative, initiated by the Independent Authority for Public Revenue (AADE), aims to bolster existing mechanisms for detecting unreported income and VAT evasion in various industries. The new regulations, expected to take effect after Easter, will require these businesses to report customer information directly to the AADE.
The introduction of the Digital Customer Registry means that event-related businesses will have to send customer details in real-time to the AADE, who will monitor guest lists and invoices. This effort is part of a broader strategy to enhance transparency in financial transactions and reduce the potential for tax fraud within the rapidly growing events industry. By leveraging digital data, the government aims to ensure greater compliance with tax regulations while also streamlining reporting processes for businesses.
This move comes amid increasing scrutiny on businesses providing event services, where cash transactions are often prevalent, potentially leading to substantial tax losses. The implication of this regulatory change emphasizes the Greek government's commitment to strengthening tax enforcement and increasing revenue collection capabilities across multiple sectors. Event organizers, catering companies, and venues must adapt to these new requirements, which signal a shift towards more rigorous accountability in the Greek economy.