Taxinet platform activated for filing tax returns. Taxpayers will have to fulfill this obligation by the end of June, and this year the tax will be paid again in eight monthly installments, from the end of July to February 2023. There is also time until the end of July and for one – timely payment of tax to use the 3% discount.

New forms E1 and E2

According to the AADE announcement, important innovations and simplifications have been added, and as of today, citizens are encouraged to file personal income tax returns for this year. In more detail:

• For the first time, individual E3 codes are pre-populated and can be modified based on data transmitted to the myDATA digital platform.
• The E1 and E2 billing and statement forms have been redesigned to make them easier to complete.
• The new table E1 separately shows the amounts of expenses by electronic means, which are deducted from income or calculated twice to form the required amount of expenses by electronic means of payment.
• Taxpayers with dependent children fill in the special fields with the name of the child, as well as the number of the identity card, if it was issued.
• The procedure for filing income tax returns for foreign residents has been simplified.
• New codes have been created to provide exemption from income tax in the case of a partnership of natural persons whose main occupation is agriculture.

It is noted that the codes created to exempt from the obligation to pay business tax for enterprises that in the 2022 tax year increased by at least three twelfths of the average number of their full-time employees in relation to the previous tax year will remain temporarily inactive and will be pre-filled by AADE. as soon as the information is transferred from the information system “ERGANI” of the Ministry of Labor and Social Affairs. AADE will immediately inform beneficiaries by email as soon as relevant information becomes available to them.

Faster credits and tax refunds

So this year, the big stakes will not be in filing a tax return, but in clarifying the situation. A significant increase in the number of debt repayments is expected, as well as a significant increase in the amount of settlement. This is not due to a change in tax rates (there were none), but to an increase in declared income.

In addition, tax offsets and refunds, as well as payment of amounts, are further accelerated as follows:

Income tax refunds for taxpayers who do not have tax or insurance debts or reporting obligations will be sent weekly to the Bank of Greece for an immediate refund.

Income tax refunds for taxpayers who do not have insurance debts or reporting obligations, but have tax debts, will be centrally credited in the first and third ten days of each month, starting from the end of April. Those offsets that cannot be processed centrally will be processed as soon as possible by DOU.

Income tax refunds resulting from returns filed after ENFIA 2023 is liquidated and prior to its payment will be centrally offset by that tax, as well as any other tax debt.

Income tax debts will be credited as a matter of priority with the right of refund for other taxes that exist or arise before 31.07.2023, so that in case of payment of income tax by offset, a 3% discount will be granted.

Source: Moneyreview