NACE Rev. 2.1 Greece: Key Changes and What to Do

The NACE Rev. 2.1 Greece update introduces important changes to how companies classify their business activities. In Greece, this directly affects the KAD codes (Κωδικοί Αριθμοί Δραστηριότητας) used by the tax authority. This article explains what changed and how companies can respond.

What was the previous classification system?

Until now, the official classification of economic activities in Greece aligned with NACE Rev. 2, set by Regulation 1893/2006. These classifications are essential for taxation, company registration, and statistical purposes. The Greek tax authority (ΑΑΔΕ) maintains a national version of this system through the KAD code structure, which maps directly to NACE codes.

Every company must register at least one KAD code representing its main activity with the tax authority and may include additional secondary activities. This classification determines tax treatments, eligibility for subsidies, and compliance categories, making it central to both administrative and financial management.

What has changed under NACE Rev. 2.1?

NACE Rev. 2.1 Greece reflects both technological evolution and shifts in how modern economies operate. The key changes include:

Section J has been split into two distinct parts:

• Section J now covers Publishing, broadcasting, and content production and distribution activities.
• Section K includes Telecommunications, computer programming, consulting, IT infrastructure, and other information services.

This shift acknowledges the expanding complexity and independence of digital services, distinguishing between content and infrastructure in a more precise way.

In addition, new categories have been introduced, particularly for financial technology services (Fintech). The classification does not rely on the tools used but focuses on the nature of the service provided. For example, a Fintech company offering credit services would be classified similarly to a traditional lender, even if the technology used is different.

Several categories have been consolidated, such as retail trade in computers, telecommunications, and audio/video equipment, under broader, unified categories, simplifying the structure.

Despite these changes, parts of the previous system remain untouched, particularly where no structural or technological shifts were deemed necessary. This helps maintain continuity for many businesses.

How do these changes affect companies in Greece?

Although this is primarily a statistical update, NACE Rev. 2.1 Greece will affect how business activities are understood and categorised by authorities. Greek companies should consider whether their registered KAD codes accurately reflect their current operations. These codes affect not only taxation but also eligibility for support schemes, government grants, and business licensing.

Importantly, the General Commercial Registry (GEMI) does not require an amendment of the company’s scope or purpose due to the NACE Rev. 2.1 Greece revision. However, the tax authority (ΑΑΔΕ) may require updated KAD codes for consistency with the revised structure, especially for audits or support programmes.

The KAD 2008 classification list remains the active standard, but accountants and tax advisors will gradually align it with the NACE Rev. 2.1 Greece correspondence table. This ensures better integration with Eurostat data and consistency with pan-European classification frameworks.

Is there a deadline to update the codes?

There is no formal deadline or filing requirement triggered by NACE Rev. 2.1 Greece. Companies are not obliged to update their KAD codes immediately, but early alignment ensures clarity and prevents administrative issues.

However, in practice, companies that experience changes in business model, should reassess their codes with their tax advisors. Updating the KAD registration may be necessary before participating in tenders, applying for funding, or renewing sectoral licenses.

What are the practical next steps?

Companies should start by reviewing their primary and secondary KAD codes and checking whether any updates are needed based on the NACE Rev. 2.1 Greece activity descriptions. A practical checklist includes:

1. Review internal operations: Have services or products shifted focus?
2. Check with your accountant: Are your KAD codes still aligned with your activities?
3. Use the correspondence table: Map current codes to their new equivalents.
4. Update declarations with AADE: File changes where needed for tax purposes.
5. Avoid changes to GEMI: Unless the legal purpose itself changes, no filing with GEMI is needed.

This review is especially important for firms with hybrid business models, or traditional retailers that added online platforms.

What’s next?

Managing a KAD code update requires clear coordination with internal and external advisors. For more insights into classification updates across jurisdictions, explore our article, Update your NACE Code with VID before it causes trouble.

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