Greece Overhauls Tax Return System with New Deadlines and Rewards

09:09 29/11/2024 - Πηγή: iEfimerida

The Greek government is revolutionizing the tax return process with new deadlines and incentives designed to simplify filing and reward prompt taxpayers.

Starting in 2025, the Taxis electronic system will open on March 15th and close

on July 15th each year, eliminating extensions except in extraordinary circumstances.

This standardized timeframe applies to both individuals and legal entities, creating a clear and predictable deadline for fulfilling tax obligations. And to encourage promptness, the government has introduced a system of discounts: those who file between March 15th and April 30th and pay their full income tax by July 31st will earn a 4% discount.

Filing between May 1st and June 15th with full payment by July 31st earns a 3% discount, while those who file between June 16th and July 15th and pay in full by the same date receive a 2% discount. Income tax can be paid in up to eight monthly installments, with the first due by July 31st.

"[This reform] simplifies the process for both taxpayers and authorities," said a tax expert, highlighting the efficiency and rewards for responsible taxpayers that come with fixed deadlines and incentives.

The new rules also include penalties for public and private sector entities that delay sending necessary data to the Independent Authority for Public Revenue (AADE). This ensures the AADE can efficiently process tax returns and provide accurate information to taxpayers.

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