H&M: A new “shield” mechanism is in place for tax violations

H&M: A new “shield” mechanism is in place for tax violations

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A new electronic mechanism, which hits “red” every time a business “forgets” to send within 24 hours to AADE, the data on the receipts it issues in transactions of this, was activated by the Tax Administration, after the disclosure of his case

When the alarm sounds, AADE’s “Rambos” are activated and a full investigation of the business begins.

Already, thousands of professionals, businesses and multinational companies operating in Greece are on the radar of the tax control mechanism with a special algorithm that “runs” cross-checks and checks millions data displayed on retail sales receipts and invoices sent on its platforms AADE (myDATA, e-send).

VAT return differences

Through the new type of cross-checks carried out by AADE, H&M branches were revealed, where some cash registers did not send thousands of receipts to AADE.

After the 48-hour “lockouts” and the fines imposed on the five branches of the multinational, the tax auditors are “leaf and feather” the books of the company with the first information showing that the differences have been identified in details of receipts issued. with the data entered in the monthly VAT returns.

Differences in VAT declarations mean that H&M branches not only send AADE data on the receipts they cut but also hide the income from the retail sales they make.

The tax audit is ongoing and as the relevant actors reported, when it is completed “we will know if the company, in addition to the penalties for not sending data to AADE, will also face those bell for tax evasion”.

Penalties

According to the current regime, not sending retail sales data to AADE is “punished” by “lockout” from 48 hours to 10 days, as it also applies to not issuing receipts. In particular, the operation of the professional establishment is suspended if it is found after a check that there is no issuance, inaccurate issuance or non-delivery of data:

Ø Immediately within 48 hours, if it is established through the same control that the non-issue or the incorrect issuance of more than 10 sales documents or regardless of the number, the net value of goods or services for which no sales documents have been issued or the hidden value of those issued, in fact, exceeds 500 euros, even if the AADE is not sent, for more than 10 items that sold at retail issued through the Tax Electronic Mechanism (TEM), or, regardless of their number, the unshipped value of goods or services exceeds 500 euros,

Ø Indefinitely within ninety 96 hours, if within the same year or the following tax year it appears again in the same or another professional establishment of the borrower, through the same control, even if the issue is not proper issue of at least 3 sales documents, or the non-issue transmission to AADE of at least 3 items of retail sales, regardless of their value,

Ø Without delay within 10 days, whenever within 2 years of the tax can be seen by any professional establishment of the borrower through the same audit, whether the non-issue or the incorrect issue of at least 3 sales documents, or the failure to send to AADE at least 3 retail sales data issued through FIM, regardless of their value.

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