AADE: Tax obligations are “current” – The deadlines for ENFIA and income tax – 2024-08-25 00:20:58

Thousands of taxpayers will face the tax authorities in the coming days, as they will have to fulfill a series of obligations, which are “current”.

It is characteristic that until August 30 property owners will be asked to pay the 5th installment of ENFIA, by the same day the 2nd installment of income tax should be paid for both natural persons and legal entities.

The two obligations above are particularly important, while many others are expected to follow until the end of 2024.

From then on, by 30/8/2024 there should be the payment of the non-resident fee for July 2024, the declaration of tax on dividends and percentages (bonus) for July 2024, as well as the VAT declaration of July from the businesses.

And the main issues don’t stop there. A few days later, specifically on September 2the declaration of withholding Taxes from hired work should be implemented, as well as the submission of a declaration of real estate leasing information.

On the same day, the declaration and tax return of articles 64 & 69 of the CPC should also occur, as well as the durability fee for special items (07/2024).

What did the Greeks say?

Last year (in 2023 for 2022 incomes) for a total of 9,017,477 taxpayers (VAT) the taxable incomes had reached a total of 97.56 billion euros. But the tax burdens were borne by few.

Based on data published by AADE:

• 50% of taxpayers had an annual taxable income of up to 7,680 euros (ie below 640 euros per month) and only 10% have an income of more than 20,842 euros (or 1,737 euros per month).
• 50% of taxpayers paid tax up to 90 euros per year, while 10% were asked to pay tax over 2,607 euros.
• Salaries & Pensions are the main source of income in the Greek territory (71.5%), but almost 40% of employees / pensioners are not taxed, as the taxable amounts of income do not exceed the tax-free limit.

The allocation

Until last year, based on the report prepared by the Ministry of National Economy and Finance for the better monitoring of the tax policy, it still appears that:

• 80% of the total taxable income last year (77.6 out of 97.5 billion euros) comes from labor income, i.e. wages-pensions, businesses, agricultural.
• 15% or €14.6 billion from capital sources (real estate, dividends, interest, rights and capital transfer capital gains)
• 5.2 billion euros are added to these amounts as a difference in presumptions.
• The average tax rate for 2023 was 10.41%.
• Salaries and pensions are the main source of income in the Greek territory, i.e. 69.793 billion euros, which corresponds to 71.5% of the total taxable income. But almost 40% of employees and pensioners do not pay tax, as the taxable amounts of income do not exceed the tax-free limit.
• The next category in terms of taxable income is income from real estate which amounts to 7.948 billion euros and a percentage of 8.1%, where 90% of taxpayers in this category have less than 9,597 euros annual taxable income.

Business activity

It is worth noting that the incomes from business activity and agriculture are the third in a row income source in terms of distribution on the total taxable income as they tolerate 6.968 billion euros and at a rate of 7.1%).

At levels similar to business and agricultural income are the amounts declared from dividends, interest, royalties and capital gains as they reach 6.695 billion euros and a percentage of taxable income of 6.8%.

Taxable income earned by officers and junior crew serving on merchant navy ships ranks last by source of income at just under €900m or 0.9% of the total.

Source: ot.gr