Best Accounting & Auditing Lawyers in Arta

About Accounting & Auditing Law in Arta, Greece

Accounting and auditing in Arta operate under the same national legal framework that applies across Greece, with local practice shaped by the business profile of the region. Arta hosts a mix of small to medium sized enterprises in agriculture, food processing, trade, construction, tourism services, and professional services. These businesses must keep books under Greek Accounting Standards, comply with tax obligations administered by the Independent Authority for Public Revenue, and, where applicable, undergo statutory audits by licensed audit firms.

The core accounting framework is set by Greek Accounting Standards under Law 4308-2014, aligned with EU directives. Listed companies and certain other entities apply International Financial Reporting Standards. Statutory audits and auditor oversight are regulated by Law 4449-2017, which transposes EU audit rules. Businesses must now also comply with Greece’s myDATA electronic bookkeeping system, which requires the electronic transmission of invoicing and accounting data to tax authorities.

Because compliance responsibilities touch accounting, tax, corporate governance, and sometimes criminal tax risk, many individuals and companies in Arta seek legal guidance alongside accounting support to manage obligations, structure transactions correctly, and handle audits or disputes with authorities.

Why You May Need a Lawyer

Legal support can be essential at several stages of your business lifecycle. When forming or restructuring a company in Arta, a lawyer can advise on the most suitable legal form and tax profile, prepare corporate documents, and address shareholder and governance matters that affect accounting and auditing downstream. When expanding or engaging in cross border trade, counsel can guide VAT rules, invoicing, customs interactions, and contract allocation of tax and accounting responsibilities.

Businesses frequently seek lawyers for compliance projects, including adoption of Greek Accounting Standards, IFRS conversions, myDATA implementation, e invoicing to the public sector, and document retention policies. In audit situations, a lawyer can help you prepare for statutory audits, coordinate with your audit firm, and respond to findings. If the tax authority initiates an audit or issues assessments, a lawyer can represent you during information requests, negotiate timelines, file administrative appeals, and, if needed, litigate before the administrative courts.

Other common reasons include drafting robust contracts with accounting and auditing clauses, evaluating the independence and liability of statutory auditors, handling allegations of accounting irregularities or tax offenses, managing corporate governance and audit committee requirements, conducting financial and tax due diligence in acquisitions or sales, and resolving disputes between shareholders about financial statements and distributions.

Local Laws Overview

Greek Accounting Standards under Law 4308-2014 define the recognition, measurement, and disclosure rules for most Greek entities. They also set the categorization of entities by size, which influences reporting and audit obligations. Many local companies in Arta will prepare financial statements under Greek Accounting Standards, while listed issuers and certain consolidated groups apply IFRS.

Statutory audits are governed by Law 4449-2017. Public interest entities are always subject to statutory audit and enhanced oversight. Beyond public interest entities, medium and large entities are generally audited annually by licensed statutory auditors or audit firms. A common rule of thumb is that an entity is subject to statutory audit if it exceeds two of three thresholds relating to assets, turnover, and employees over two consecutive years. Historically these thresholds have been around total assets of 4 million euros, net turnover of 8 million euros, and an average of 50 employees, but the exact figures and their application can change, so current criteria should be verified before making decisions. Smaller companies may be subject to review engagements or may be exempt, depending on their legal form and size.

The Income Tax Code under Law 4172-2013 and the Tax Procedure Code under Law 4174-2013 set rules for corporate and personal income tax, assessments, audits, penalties, and administrative appeals. VAT is governed by the VAT Code under Law 2859-2000, with standard invoicing and return filing requirements and specific rules for intra EU supplies and acquisitions, exports, and domestic reverse charge mechanisms. The myDATA electronic bookkeeping system administered by the tax authority requires businesses to transmit summary invoices and classification data electronically within specified deadlines. Non compliance can lead to penalties and have implications for expense deductibility.

The Hellenic Accounting and Auditing Standards Oversight Board supervises the audit profession. The Economic Chamber of Greece licenses accountants and tax consultants. The Hellenic Capital Market Commission supervises listed companies and matters relevant to financial reporting for those entities. The General Commercial Registry records corporate acts, including financial statement filings for companies required to publish. AML rules under Law 4557-2018 impose customer due diligence and recordkeeping obligations on accountants and auditors, including beneficial ownership registrations. The General Data Protection Regulation and Greek Law 4624-2019 regulate the processing of personal data contained in accounting records.

Books and records are typically retained for at least five years under the Tax Procedure Code, starting after the end of the fiscal year, with longer retention in specific cases such as ongoing audits or litigation. Local practice in Arta mirrors national rules, with filings typically handled online and interactions with the local tax office as required. Sector specific levies, municipal fees, and tourism related taxes may apply depending on the nature of the business.

Frequently Asked Questions

Do I need a lawyer based in Arta or can I work with counsel elsewhere in Greece

You can work with a lawyer anywhere in Greece because accounting, auditing, and tax laws are national. A local Arta based lawyer can be helpful for in person filings, local networking with the tax office, and knowledge of regional business practices. For complex matters, firms in Athens or Thessaloniki often collaborate with local counsel to combine specialist expertise with local presence.

Which accounting standards apply to my business in Arta

Most Greek companies apply Greek Accounting Standards under Law 4308-2014. Listed groups and some other entities apply IFRS for consolidated or separate financial statements. The applicable framework depends on your legal form, listing status, size category, and whether you prepare consolidated statements. Your lawyer and accountant can confirm the correct framework and disclosures for your case.

When is a statutory audit required

Public interest entities are always audited. Many sociétés anonymes and other companies must appoint statutory auditors when they exceed two of three size thresholds relating to assets, turnover, and employees for two consecutive years. The exact thresholds and any special rules for your legal form should be checked against current law before the general meeting that appoints auditors. Smaller entities may be exempt or subject to a review engagement rather than a full audit.

What is myDATA and how does it affect me

myDATA is Greece’s electronic bookkeeping system operated by the tax authority. Businesses transmit invoice data and classifications to create electronic books. It affects invoicing workflows, expense recognition, and reconciliations with VAT and income tax returns. Failure to transmit or misclassifications can lead to penalties and disputes about deductibility. A lawyer can help design compliant policies, contractual clauses with vendors and customers, and manage disputes with the tax authority.

How is VAT handled for sales and purchases

VAT registration is required once thresholds are met or by virtue of your activities. The standard VAT rate applies to most supplies, with reduced rates for certain goods and services. Intra EU supplies and acquisitions follow EU rules, often with zero rated outputs and acquisition VAT on inputs, subject to correct reporting. Cross border services may require reverse charge accounting. Timely and accurate VAT returns are crucial, and myDATA data must reconcile with VAT filings.

How long must I keep accounting records

As a general rule, keep records for at least five years after the end of the relevant fiscal year. This includes invoices, ledgers, payroll records, bank statements, contracts, and myDATA evidence. Retain records longer if an audit, appeal, or litigation is pending, or where sector specific rules impose longer retention. Your lawyer can set a retention schedule that aligns tax, corporate, AML, and data protection requirements.

What should I expect during a tax audit by the authority

The tax authority may request books and records, access to myDATA reconciliations, and explanations for specific transactions. Deadlines are usually short, and non response risks penalties. Auditors may focus on high risk areas such as transfer pricing, VAT refunds, cash intensive activities, and expense deductibility. A lawyer can manage communications, ensure legal privilege where applicable, negotiate timetables, and prepare a robust documentary defense.

How can I challenge a tax assessment

You typically file an administrative appeal with the Dispute Resolution Directorate within 30 days of notification of the assessment, or 60 days for non residents. Filing the appeal can suspend payment of part of the assessed amount until a decision is issued. If the appeal is rejected or not decided within the legal timeframe, you can bring the case before the administrative courts. Strict deadlines apply, so early legal advice is important.

What is the tax compliance report issued by statutory auditors

Companies subject to statutory audit may receive a tax compliance report from their statutory auditor. This report addresses compliance with key tax provisions and is submitted to the tax authority. It does not eliminate the possibility of a tax audit, but it may influence risk assessment and the handling of certain issues. Lawyers often coordinate with auditors to address findings and remedial steps.

How are audit fees and timelines determined

Fees and timelines depend on the size and complexity of your business, internal controls, industry risk, and reporting deadlines. The general meeting appoints the statutory auditor before the start of the fiscal year or within the statutory time window. Engagement letters set scope, materiality, and responsibilities. Involve your lawyer when negotiating engagement terms, independence representations, limitation of liability clauses, and confidentiality provisions.

Additional Resources

The Independent Authority for Public Revenue manages tax registrations, VAT, myDATA, audits, and assessments, with the local tax office in Arta handling in person matters when required. The Hellenic Accounting and Auditing Standards Oversight Board is the public oversight authority for statutory auditors and audit firms. The Economic Chamber of Greece licenses accountants and tax consultants and maintains professional registers.

The Hellenic Capital Market Commission oversees listed issuers and certain transparency and reporting obligations. The General Commercial Registry records corporate acts, annual financial statement filings for entities that must publish, and corporate changes. The Chamber of Arta supports local businesses with registration and information services. The Arta Bar Association can help you find licensed lawyers with accounting and auditing experience.

Useful governmental portals include the single digital portal for many filings and certificates and the corporate registry portal for company records. Sector associations and local business networks in Arta can provide practical guidance on local practices and introductions to trusted professionals.

Next Steps

Clarify your objectives and deadlines, whether you are registering a business, preparing for year end, implementing myDATA, undergoing a statutory audit, or responding to a tax inquiry. Gather key documents, including incorporation documents, registry extracts, shareholder resolutions, trial balances, general ledgers, bank statements, contracts, invoices, payroll records, VAT returns, income tax returns, myDATA transmission logs, and any correspondence with the tax authority or your auditor.

Request an initial consultation with a lawyer experienced in accounting and auditing matters. Verify licensing and experience, and ask for a clear scope, timeline, and fee structure. Where appropriate, your lawyer should coordinate with your licensed accountant or audit firm to ensure consistent positions across legal, accounting, and tax workstreams. If you face an audit or assessment, ask your lawyer to review deadlines immediately and set a response plan, including administrative appeals to the Dispute Resolution Directorate if needed.

Implement remedial steps where necessary. This can include correcting myDATA entries, filing amended returns, updating invoicing and contract templates, improving internal controls, and documenting accounting policies. For entities requiring a statutory audit, ensure the general meeting appoints the auditor in time, agree the engagement letter, and prepare audit schedules early. Maintain a document retention policy that aligns with tax, corporate, AML, and data protection rules.

This guide provides general information only and is not legal advice. Laws and administrative practices change, and local procedures in Arta may evolve. For advice tailored to your situation, consult a qualified lawyer and coordinate with your accountant or statutory auditor.