Digital transfers via IRIS have revolutionized daily transactions, but they raise questions about their tax implications. The tax authority closely monitors repeated and unexplained inflows that may conceal taxable income.
Read: Pitsilis: Tax authority commitment to supporting legitimate trade and healthy entrepreneurship
How taxation of IRIS transfers works
The rapid development of IRIS online payments and the ability to send money instantly via mobile number have transformed the way we handle our financial obligations. However, citizens are seeking clarification from accountants and tax professionals about whether these transactions might be interpreted as taxable income.
A typical scenario involves splitting a restaurant bill where one friend covers the total and others immediately send their share via IRIS. According to tax experts, such transfers do not constitute income when they involve returning money or covering shared expenses between private individuals.
What counts as taxable income from IRIS
Taxable income is recognized exclusively from amounts originating from work activities, service provision, commercial activities, or investment transactions. During a tax audit, the taxpayer can document that the transfer relates to a shared expense.
Experts recommend recording relevant justification in the transaction, such as “shared meal,” “birthday gift,” or “shared bill,” to prevent any misinterpretation by tax authorities.
When tax authorities intervene for IRIS audits
Repeated and unexplained inflows to a bank account may attract the attention of tax authorities. A characteristic example is when someone receives weekly amounts of 200 to 300 euros from different people without clear justification in the transaction.
If this pattern continues for an extended period, tax authorities may suspect “hidden” service provision or undeclared commercial activity and demand justification for the origin of the funds.
IRIS usage statistics and future developments
The system’s momentum is reflected in impressive usage data. In 2024, interbank transactions via IRIS exceeded 57.3 million with a total value of over 6.1 billion euros, marking a 137% increase compared to the previous year.
More than 3.8 million citizens already use IRIS P2P, while professionals integrated into IRIS P2B exceed 565,000. Additionally, 8,000 businesses and online stores participate in IRIS Commerce, ahead of mandatory integration for all professionals from November 2025.
Mandatory implementation and new IRIS limits
The mandatory implementation from November 1, 2025, brings significant changes. All businesses, physical and electronic, will be required to accept IRIS payments, with penalties ranging from 10,000 to 20,000 euros for non-compliance.
During payment, POS systems will display two options: IRIS and card. The cashier will select IRIS, generate a dynamic QR code, and payment will be completed through the customer’s mobile banking app. In a second phase, within 2026, NFC technology will be integrated, allowing payments with simple phone contact to the POS.
From January 2026, transfer limits increase significantly:
• Private individuals: up to 1,000 euros daily and 5,000 euros monthly
• Professionals: up to 31,000 euros monthly
The same year, IRIS will expand beyond Greece, offering money transfers between individuals in EuroPA network countries, including Italy, Spain, Portugal, Scandinavian countries, and Poland.
