With new codes that mainly concern the 730,000 freelancers and self-employed for whom the Tax Office has sewn the “suit” of the minimum presumptive income, the new form E1 of the tax return was issued, with the AADE as the electronic portal for the submission of the new tax returns from approximately 9 million natural persons.
Professionals will see in E1 of the statement pre-filled the amounts of the minimum presumptive income that AADE has calculated based on the years of activity, payroll costs and turnover. Specifically, a special table will analyze the way to determine the minimum net amount of business activity, while those who disagree with the presumptive income and want to prove after the audit that their real income is lower than the presumption should declare it in the codes 443- 444 of E1.
Where attention is needed
The new codes of the E1 form that professionals should pay attention to are the following:
Codes 045-046: They concern those who are exempt from the minimum net income or are entitled to a proportional reduction of the presumptive income in the case of exercising an activity for a limited period of time based on legislative or regulatory regulation (e.g. school canteens). In the sub-table of this code, the taxpayer can choose:
- Exception for insurance intermediaries
- Exception for coffee shops in settlements of less than 500 inhabitants
- Doing business for a limited period of time.
Codes 047-048: They concern those entitled to a 50% discount on the minimum assumed income.
In the sub-table of these codes, the taxpayer can choose one or more of the following indications:
- Do you have the status of a large parent or an orphaned child?
- Are you the parent of a single-parent family with minor children?
- You are a taxi operator with an ownership percentage of less than or equal to 25%
- You have a place of business and main residence in a settlement with a population of less than 500 inhabitants or on islands with a population of less than 3,100 inhabitants.
As mentioned in the decision of the AADE for the exemption or reduction by 50% of the presumption, the taxpayers should have the required supporting documents, while in the cases where an audit is required, the liquidation of the specific declarations after the audit of the supporting documents will be completed at the responsible for receipt of the service statement.
Codes 405-406: In these codes, professionals will see the minimum presumptive income prefilled. By clicking on the code, a table will appear in which the calculations of the Tax Administration regarding the determination of the minimum amount of net income will be displayed in detail.
Codes 443-444: They should be completed by those who dispute the assumed income and will request an audit to prove the accuracy of their declaration of less than the assumed income.
The taxpayer is obliged, no later than 60 days after the end of the deadline for submitting the income tax return, to fill in a questionnaire on the AADE platform and to declare detailed information on the property profile and living conditions of both himself and his/her spouse and protected children.
Among other things, details of bank accounts, cards, cryptocurrencies, real estate, cars and living expenses from tuition and insurance to travel and expenses for light, water, telephone should be declared.
Codes 445-446: The tax-exempt income from business activity is pre-filled by the Tax Administration in the case of determining a minimum net income (e.g. taxpayers who have transferred their tax residence to Greece and are paid with a payslip).
For employees and pensioners there are no substantial changes in the declaration codes. The change lies in the statutory ability of AADE to automatically submit their – anyway – pre-filled returns at the end of the deadline, if they do not do so themselves.
Source: Premium Edition The News
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