From day to day (if not from hour to hour) the platform for submitting this year’s is expected to open tax returns for about 9 million debtors, although most appear to be busy after Easter. Main reason, the advance announcement by the Ministry of National Economy and Finance that there will be an extension of the submission deadline until the end of July. The only exception is perhaps those who have a tax refund as it is a reason to speed up the relevant process since the money is now paid in a short period of time, provided that there are no other debts in the tax office.
However, this year form E1 of the tax return is full of new codes that pertain to the new objective system of taxation of the self-employed. The interest is focused on its table C2 where the income from business activity is filled in. Codes 405-406 are the first 735,000 should check freelancers as they will be pre-filled by AADE with the minimum net assumed income. Those who believe that the income calculated by the tax office is higher than the real one will be able to dispute it by submitting a request for an audit or for objective reasons on the platform that AADE will activate in the first fortnight of May. They will have to fill in codes 443-444 in E1 and during the verification process that will follow they will have to disclose all their assets and living expenses.
For employees and pensioners, there are no changes to the declaration codes. The only new thing is that for about 900,000 employees and pensioners with income from one source, the declarations will be pre-filled and AADE will be able to submit them automatically at the end of the deadline, if the debtors do not do so.
Changes to codes
The new codes of the E1 form that professionals should be aware of are the following:
1. Codes 045-046: They concern those who are exempt from the minimum net income or are entitled to a proportional reduction of the assumed income in the case of exercising an activity for a limited period of time based on legislative or regulatory regulation (e.g. school canteens). In the sub-table of this code, the taxpayer can choose:
– Exception for insurance intermediaries
– Exception for coffee shops in settlements with less than 500 inhabitants
– Doing business for a limited period of time
2. Codes 047-048: They concern those who are entitled to a 50% discount on the minimum assumed income. In the sub-table of these codes, the taxpayer can choose one or more of the following indications:
– Do you have the status of a large parent or an orphaned child?
– Are you a parent of a single-parent family with minor children?
– You are a taxi operator with an ownership percentage less than or equal to 25%
– You have a professional seat and main residence in a settlement with a population of less than 500 inhabitants or on islands with a population of less than 3,100 inhabitants.
As stated in its relevant decision AADE for the exemption or reduction by 50% of the presumption, the taxpayers should have the required supporting documents, while in the cases where an audit is required, the clearing of the specific declarations after the verification of the supporting documents, will be completed at the department responsible for receiving the declaration.
3. Codes 405-406: In these codes, professionals will see the minimum presumptive income prefilled. By clicking on the code, a table will appear in which the calculations of the Tax Administration regarding the determination of the minimum amount of net income will be displayed in detail.
4. Codes 443-444:Should be completed by those disputing presumed income and requesting an audit to prove the accuracy of their declaration of less than presumed income. The taxpayer is obliged, no later than 60 days after the end of the deadline for submitting the income tax return, to fill in a questionnaire on the AADE platform and to declare detailed information on the property profile and living conditions of both himself and his/her spouse and protected children.
5. Codes 445-446: The tax-exempt income from business activity is pre-filled by the Tax Administration in the case of determining a minimum net income (e.g. taxpayers who have transferred their tax residence to Greece and are paid with a payslip)
The payment of the tax
As for his payment income taxthe payment is made in 8 monthly installments from the end of July until the end of February 2025.
However, given that the deadline for submitting this year’s tax returns will be extended into July, it is most likely that two installments will be allowed until the end of August.
Based on the new Code, from this year taxpayers will be able to earn a 3% discount in the case of a lump sum payment of the tax even if it is paid at the end of August. For legal entities, the tax is paid in six equal monthly installments, the first of which is paid by September 30, 2024 and each of the following by the last working day of the following five months.
News today:
Politico Reveal: US Secretly Sent Long-Range ATACMS Missiles to Ukraine
Police profession: “You can’t live without a second job” – Dangerous daily wages are necessary
Spartans: In a narrow legal battle after the blockade of the Supreme Court for the European elections
Tags: submission begins Form
