210 - 4525976
Taxation & Accounting Monitoring

Taxation & accounting monitoring

The pursuit of business activity by either fiscal persons or legal entities presupposes, by law, keeping up books and records for the accounting and tax monitoring of the entity. Indeed, failure to properly comply with the records and data provided for by law raises fines, administrative penalties, and criminal liability.

With the latest legislative changes (Law 4308/2014 and Directive 2014/33 / EU), a new field of accounting and tax transparency of businesses is formed, which requires thorough monitoring by an accountant and a lawyer. The obligations of the companies are scaled according to their size and their turnover, however, apart from the capital companies (IKE, SA, EPE, EE by shares) even the individuals and the private companies (OE, EE) have to keep specific books and data.

Furthermore, the entity’s accounting records are used by the tax administration to implement taxation and carry out audits. In particular, with recent amendments to tax legislation, the administrative procedure is firmly connected to the court proceedings and hence the tax treatment, it is appropriate to treat it uniformly at all stages under the guidance of a lawyer. Any late assignment to a lawyer for a tax dispute may be fatal to your rights and therefore to the sustainability of your business.

Indicatively, an enterprise should be subject to accounting and taxation for issues:

  • Real estate (ownership, transfer, leases, exploitation, concession, etc.)
  • Commercial activities (routine transactions, VAT issues, other trade taxes)
  • Special trade agreements (leasing, leasing, factoring, franchising)
  • Tax planning (special tax regimes, exemptions)
  • Tax treatment and compliance with development laws
  • Board fees, advisors and auditors
  • Dividend distribution to partners/shareholders.
  • Intra-group relations (parent-subsidiary)
  • Addressing tax audits (control orders, objections, and cross-appeal, judicial protection against tax disputes)

Important! Undertaking a business involves complying with complex tax and accounting legislation. A good choice for a prudent businessman is – in addition to accounting by a professional accountant – and preventative legal monitoring of the business in compliance with all applicable legislation.