The new E3 form (20 pages) of the tax return completed by businesses and self-employed people has new codes and “requirements”. With the aim of presumptively determining their net taxable income, based on the objective criteria of the new taxation system, the Independent Public Revenue Authority (AADE) has added a series of codes concerning income and expenses which are drawn from the myDATA digital platform.
Also, professionals will see in their new form that many of their details are pre-filled such as VAT numberThe CAD of the start of their professional activity, h SEE of first submission, start date. Also, the form will show the property and financial information of the professional, such as the balance of active bank accounts, the company’s POS, the average number of employees, etc.
Based on the data of the E3 form, the net income of the professionals will be calculated in an accounting manner, while in the E1 form, the presumptive income will be pre-filled. Attention is needed in the following points:
- • the prefill of E3 is done for convenience and the data is not binding. This means that taxpayers can modify the data entered in the codes.
- • for young people professionalspracticing the profession for up to three years, no minimum taxable income will apply and they will be taxed based on their books.
- • THE taxpayer can challenge the application of the minimum annual income, requesting that it be taxed on the basis of its accounting records, i.e. on the basis of its “real” profits or the recognition of its loss. In this case, the tax authority is required by law to carry out a tax audit to verify the accuracy of the taxpayer’s books and information.
By decision of the Governor of AADE, Giorgos Pitsilis, the following is clarified for the professionals’ E3 form:
How to submit the new and pre-filled E3
According to what the decision provides:
1. The E3 is submitted together with the due and overdue initial and amending declarations with the forms “E1” (Income Tax Declaration of natural persons) and “N” (Income Tax Declaration of legal persons and legal entities).
2. AADE has pre-populated revenue and expense categories with amounts in the relevant codes of the respective tables based on the data transmitted to the myDATA digital platform. Since the relevant expenses have not previously been characterized in the myDATA digital platform, all expenses are pre-filled in code 585 (“Miscellaneous Operating Expenses”) of the “Total” column, in option 016 of the relevant Subtable.
3. Correct and accurate completion of Form E3 constitutes the obligation and responsibility of the taxpayer. The pre-completion of the codes of Form E3 is intended to facilitate the taxpayer and is not binding for him. The pre-filled amounts in the codes of the E3 form can be modified by the taxpayer.
4. In the cases of spouses and natural persons who have entered into a cohabitation agreement and submit a joint declaration for their incomes, the E3 form is submitted for each of the spouses/parties of the cohabitation agreement where this is required for their individual incomes.
5. In case of cessation of operations and commencement within the same tax year, one (1) statement of financial data from business activity for the entire tax year shall be submitted.
6. It is not foreseen to submit the E3 form with a reservation, since the reservation concerns exclusively the content of the income tax return (E1 or N form, as the case may be).
7. The statement of financial data from business activity is submitted once for the entire business, regardless of the number of branches and branches.
8. The person liable to submit a statement of financial data from a business activity completes the tables that concern him.
9. Any change that occurred in the state of the business during the tax year cannot be declared on the E3 form if it has not previously been declared to the Registry Department of the service responsible for receiving the declaration.
10. In the case of natural persons, the E3 is submitted by those acquiring income from business activity for the needs of accounting determination of the result, regardless of the obligation to keep appropriate accounting records (books and data).
11. For non-profit legal entities, the E3 form is submitted when they obtain income from business transactions, while in the case that they have income only from capital and capital transfer capital gains, as well as when they obtain non-taxable income, they submit the E3 form without stating How many.
Beware of changes
The most basic ones changes made on the E3 form are as follows:
1. In table B, a new line “Average number of full-time employees hired by another company” was added to the entity size criteria
2. In code 083 the aids were added:
• Extraordinary temporary support to farmers and SMEs affected by the effects of the Russian invasion of Ukraine (related article 72 of Law 5016/2023) and
• Aid granted on the basis of the European Commission’s announcement (2022/C 426/01) “Temporary framework for taking state aid measures to support the economy following Russia’s attack on Ukraine” (related article 47 of Law 5035 /2023).
3. Codes have been added to Schedule F to grant an incremental deduction for green economy energy and digitization expenditures incurred in tax years 2023, 2024, and 2025.
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Tags: professionals form
