A provision incorporated in the new tax bill brings radical changes to tax declarations.
For the first time, a clear and predetermined time frame for submitting tax returns is established.
In this way, the issues with the pending, tensions and extensions of the declarations are dealt with in practice, primarily utilizing the proposals of the most interested parties, that is, the Economic Chamber of Greece.
The tax returns
The submission of tax returns will be made from March 15 to July 15 of each year, both for natural persons and for legal entities.
A discount is provided for those who pay the full amount of income tax by July 31st and if they submit their tax return, as follows:
- 4% discount for anyone who submits a statement from March 15 to April 30.
- 3% discount from May 1 to June 15.
- 2% discount from June 16 to July 15.
The tax is paid in 8 equal monthly installments, the 1st of which is paid by July 31st.
Sanctions are established for the administrators of Organizations, the official secretaries of the State and the general secretaries of the Municipalities as well as the payroll managers for any delays in sending data to AADE that are necessary for the timely completion of tax returns.
How to file tax returns
In particular, AADE is creating an Electronic Register of Persons Obliged to Submit an Annual Income File for the pre-completion and submission of tax returns.
Registration in the Registry is mandatory and concerns Government Organizations and services that are required to send data to AADE for the needs of completing tax returns.
Through the new electronic register, all the necessary data for the pre-completion and submission of the tax returns will be transmitted to the AADE (such as wages from salaried work, pensions, remuneration from business activity, taxes withheld, etc.). Each organization should transmit the data from January 16th to the last working day of February.
In case of untimely, inaccurate transmission of the above data to AADE or non-registration in the Registry, a fine of 2,500 euros is provided for the responsible persons.
As such are considered the heads of legal entities of the State (eg EFKA, EOPYY etc.), for the State the official secretaries, for the Municipalities the general secretaries and horizontally the supervisors for the clearing of the payroll. In case of late transmission, the fine is increased by 50 euros for each day of delay.
Finally, in case of delayed activation of the digital platform by AADE, the fine will be imposed on the Commander and Deputy Commander of AADE with responsibility for the digital transformation, as well as the head of the corresponding organizational unit, who are individually responsible for paying the fine .
Source: ot.gr
#Tax #returns #deduction
