The deadline to connect to IRIS is September 2 – who will be affected and how much is the fine?

Next Monday, September 2, freelancers and self-employed people must connect their business account to the IRIS direct payment system.

For professionals who will not connect to the system until early Septemberfaces a fine of 1,500 euros. AADE has informed those required to comply that the deadline has been extended to Monday, September 2, as the August 31 deadline falls on a Saturday.

The AADE message is sent to those debtors who, according to available data, have not yet started connecting their business account to the IRIS system. The IRIS system, according to representatives of the Ministry of National Economy and Finance, provides significant benefits (reduced costs and faster transaction processing) for both consumers and professionals.

The problem, however, is that even in bank branches, professionals who want to complete the procedure do not know exactly how to connect. There is confusion about whether professionals who use banking transactions and have ongoing relationships with clients that do not change in amounts should also be included. According to the leadership of the Ministry of National Economy and Finance, with the help of IRIS:

• Clients can make payments commission-free 24 hours a day and without having to know the specialist’s bank account number or register their debit or credit card details. They only need to know the specialist’s mobile phone number or VAT number, or scan the QR code corresponding to the specialist’s bank account.
• Practitioners receive money instantly (in 2 seconds), even if the bank they work with is different from the client's bank. In addition, they pay an average of 50% less in fees compared to POS transactions.

You can activate the service quickly and easily through the web bank or mobile bank of a partner bank. We remind you that:

• The IBAN that professionals and self-employed persons choose upon registration must be registered in the AADE Professional Account Register on the myAADE digital portal (myaade.gov.gr), under Applications > Tax Services > Professional Account.
• The €500 per day limit on IRIS transactions applies to one client and not to the total amount of payments a specialist can receive in 24 hours. For example, a specialist can receive 4 payments of 500 euros each in one day (a total of 2000 euros).
• For responsible persons who fail to register in IRIS within the prescribed period, a fine of 1,500 euros is imposed.

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