Tax refunds to those taxpayers who do not have debts to the tax inspectorate and insurance funds are proceeding very quickly this year. Independent State Revenue AuthorityAADE) aims to credit weekly to a bank account or offset other existing tax liabilities to provide a strong incentive to expedite the tax filing process.

Thus, from the start of filing tax returns until today, 18,184 taxpayers with a credit report have received EUR 5.2 million in their bank accounts through the two weekly payments that have been made so far. At the same time, the tax administration is working on faster debt repayments to zero out pending tax refunds from the state to private individuals. In total, more than €1.7 billion in taxes were recovered in the first quarter of the year, a record amount compared to the delay pattern seen in previous years.

This change is due to the fact that AADE now has a clearer view of the income and expenses of businesses and individuals, with an extensive electronic history for each legal entity and, in general, auditors have a profile of businesses. Faster returns don’t mean there won’t be audits, AADE said. According to them, if the credit balance is returned, it will be returned by the tax administration after evaluation based on risk analysis criteria.

It is noted that recently the Ministry of Finance, as an incentive for businesses using electronic invoicing through an electronic data provider, reduced from 90 to 45 days the time during which the tax administration considers tax refund requests, mainly tax-related VAT. year or fiscal years for which issuers select and use exclusively electronic invoicing.

AADE planning includes:

• Income tax refunds for taxpayers who do not have tax or insurance debts or awareness 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.gr