Hundreds of circumstances of tax-free financial parental advantages and donations have been stopped by the “radar” of the tax workplace as taxpayers have been recognized who donated cash with out paying a single euro of tax, bypassing the legislation on the tax-free restrict of 800,000 euros.
Taxes and fines on offenders
The circumstances concern financial parental advantages made in money in addition to digital donations of cash to individuals who will not be entitled to tax-free parental advantages. Offenders have been assessed taxes and fines whereas checks are ongoing.
Specifically, the management of the declarations submitted to the myProperty platform of AADE and the cross-checking of the information declared by the taxpayers with the information of the banks revealed:
What cross-checking revealed
– Circumstances of financial parental advantages – donations from dad and mom to kids or grandparents to their grandchildren which weren’t made by transferring cash by way of banks as prescribed by legislation however by depositing money into the recipient’s checking account. On this case, the tax-free restrict of €800,000 doesn’t apply and 10% tax must be paid on the primary €100,000 of the money parental profit.
Typical examples
Typical is the case of a taxpayer who appealed to the Dispute Decision Directorate citing that the father-donor was 84 years previous, didn’t perceive what the accountant advised him and deposited the parental profit cash into the kid’s account however his enchantment was rejected.
– Circumstances of parental advantages to individuals who will not be entitled to the tax-free quantity of 800,000 euros legitimate from October 1, 2021. Particularly, through the management of declarations of successive donations, circumstances have been discovered the place the kid donated cash to his father or mom and the dad or mum then, actually, on the identical day, with parental assist, he gave the cash to his different little one.
With an middleman, that’s, the dad or mum, the cash handed from one brother to the opposite with out paying tax when the present laws states that the 800,000 euros tax-free doesn’t apply to cash donations between brothers and a tax of 20% is imposed from the primary euro. Within the case of successive parental advantages, the tax authorities verify the time that has handed between successive donations. Whether it is lower than six months, the precise transaction is taken into account suspicious and is focused by the management mechanism.
Taxpayer appeals
Controls are being intensified whereas already 1,580 circumstances of financial parental advantages have reached the Dispute Decision Directorate from taxpayers who request the annulment of the taxes and fines imposed on them by the tax authorities.
Most appeals concern parental advantages and donations of financial quantities from 10,000 to 200,000 euros which have been made in money. Within the majority of them the appeals have been rejected with the taxpayers being requested to pay hundreds of euros to the tax workplace.
Supply: ot.gr
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