Greek Tourism, trade sector bodies call for turn to e-transactions

July 6, 2016
Written by E.Tsiliopoulos

Greece’s tourism and trade sector bodies are calling on the government to push for the implementation of electronic transactions in efforts to cut operational costs for both businesses and government and to tackle tax evasion.

The Hellenic Federation of Enterprises (SEV), the Hellenic Confederation of Commerce and Entrepreneurship (ESEE) and the Greek Tourism Confederation (SETE) submitted proposals and measures to Alternate Finance Minister Tryfon Alexiadis during a meeting last week.

According to SEV, ESEE and SETE, if the measures are implemented, over a two-year period results will include the restraint of the black economy by 10 percent, which translates into 5 billion euros; an increase in VAT proceeds by 1 billion euros annually; a reduction in procurement costs for the state by 200 million euros per year; a cut in operational costs for businesses by 1-1.5 billion euros a year through the implementation of electronic invoicing; and a drop by 60 percent in the issue of fake invoices.

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