One week left until the end of the month, where until 30/4 the 2024 tax returns must be opened.
In particular, it is expected to open within this week taxisnet for the tax declarations, as the Deputy Minister of Finance Mr. Theocharis announced a few days ago saying that the gazette is expected to be published.
This year there are some changes, as for some they will be “ready” and they won’t need to do anything extra.
Tax returns 2024: The installments and the deduction
First, the payment of the tax that will arise will be done in 8 installments (1st installment by July 31, 2024, 8th installment by February 28, 2025)while the one-time payment will have 3% discount.
It is noted that for the first time this year the discount will apply even if an extension is granted. In this case, the payment will be postponed until the end of August, but those who choose the installments and not the one-time payment, will have to pay the first two installments together.
The 2024 tax returns for 1 million employees are ready
About 1 million employees and pensioners who have no other income from this year do not need to proceed with completing and submitting their declaration.
AADE will complete and submit their tax return within the deadline. This category will be notified by email from AADE for the automatic completion and finalization of their declaration.
Also, the declarations will include amounts related to:
- interest on bank deposits
- taxes from interest
- vehicle & residential details
- private school fees
- repayment of loans & cards
- spending through electronic transactions.
- Separate tax returns
In the event that a couple submits a joint tax return, the tax certificate is separate for each. In other words, two tax assessment documents are issued.
Finally, it is worth noting that taxisnet for tax returns 2024 will be opened initially for natural persons and then for legal persons.
Receipts that count double on 2024 tax returns
the Independent Public Revenue Authority (A.A.D.E.) requests and receives data on the expenses incurred by taxpayers through electronic means of payment.
These costs are categorized based on Merchant Category Code (Merchant Category Codes – MCC) and provide the necessary data for the application of the relevant tax deduction.
What applies to tax returns 2024
Determination of the costs of the latter paragraph d) of paragraph 6 and paragraph a) of paragraph 7 of article 15 of Law 4172/2013 (A’ 167), to provide incentives for carrying out transactions with electronic means of payment.
Minister of Finance and Deputy Minister decided that:
“The expenditure subcategories of Group 6 (Health) of the Consumer Price Index (CPI) of EL.STAT., which according to the last paragraph of paragraph d) of paragraph 6 of article 15 of the 4172/2013 (A’ 167) are calculated at twice their value to cover the required amount of expenses of paragraph b) of paragraph 6. of the same article and law, are the following:
COICOP5 classification Species – Subgroups – CPI Groups
- 0621 MEDICAL SERVICES
- 0622 DENTAL SERVICES
- 06239 OTHER PARA MEDICAL SERVICES
For the application of this article, expenses of beneficiaries to businesses (natural and legal persons or legal entities) bearing the following Merchant Category Codes (MCC):
Merchant Category Activity Description
- 8011 Physicians
- 8021 Dentists, Orthodontists
- 8031 Osteopaths
- 8041 Chiropractors
- 8041 Ophthalmologists
8049 Chiropractors, Podiatrists - 8099 Medical Services
For the rest, for the implementation needs of this paragraph, the provisions set out in A.1163/2020 decision of the Deputy Minister of Finance (B’ 3119) apply.
As costs of receiving services carried out by electronic means of payment, for which, in accordance with point a) of paragraph 7 of article 15 of Law 4172/2013, an amount equal to thirty percent (30%) of the expenses from the natural person’s taxable income from salaried work and pensions, business activity and real estate, exclusively for the calculation of income tax, are defined as the expenses of receiving services that are included in the following subgroups of the consumer price index of EL.STAT.:
COICOP5 classification Species – Subgroups – CPI Groups
- 0432 HOME REPAIR AND MAINTENANCE SERVICES
- 05621 HOUSEHOLD SERVICES
- 05622 CLEANING SERVICES
- 0562 HOUSEHOLD SERVICES – HOME CARE SERVICES
- 07322 TRANSPORT OF PASSENGERS BY TAXI
- 0935 VETERINARY SERVICES
- 09412 LEISURE TIME ACTIVITIES
- 09425 PHOTOGRAPHY SERVICES
- 1211 HAIRDRESSER AND PERSONAL CARE SHOPS
- 12401 CHILD CARE SERVICES
COICOP5 classification Species – Subgroups – CPI Groups
- 12402 NURSING HOMES AND INSTITUTIONS FOR PEOPLE WITH SPECIAL NEEDS
- 12403 HOME ASSISTANCE SERVICES
- 12702 LEGAL SERVICES (excluding accounting services)
- 12703 FUNERAL SERVICES
The amount of income deducted does not exceed the total actual income from employment and pensions, business activity and real estate of the natural person and is limited up to the amount of five thousand (5,000) euros per year in total for the above incomes.
The costs are solely for the taxpayer and the excess amount may not be used by the other spouse or cohabiting partner.
For the application of this article, expenses of beneficiaries to businesses (natural and legal persons and entities) bearing the following Merchant Category Codes (MCC):
Merchant Category Activity Description
- 0742 Veterinary Services
- 1711 Plumbing, cooling, heating maintenance works
- 1731 Electrician jobs
- 1740 Insulation, masonry, plastering, tiling, etc.
- 1750 Carpenter’s work
- 1761 Roof and window location work, sheet metal, etc.
- 1771 Concrete works
- 4121 Taxi services
- 7230 Barbers, hairdressers and beauty shops
- 7261 Funeral services
- 7297 Massage services
- 7298 Physical wellness services
- 7349 Cleaning and domestic services
- 7395 Photo development
- 7911 Dance schools
- 7997 Gyms and leisure activities with subscription
- 7999 Various leisure services
- 8050 Personal care and nursing (excluding hospital activities)
- 8111 Legal services
- 8351 Child care services
The costs of this article are also taken into account for the application of paragraph b) of paragraph 6 of article 15 of Law 4172/2013.
Especially for the expenses related to the repair and maintenance services of a residence, the provisions of this article do not apply, as long as the natural person has benefited from the application, within the same tax year, of the provisions of article 39B of Law 4172/2013.
For the implementation of this decision, A.A.D.E. requests and receives information on expenses with electronic means of payment per taxpayer and per expense category based on Merchant Category Codes (MCC) and any other required information necessary for the implementation of this from the payment service providers.
The sums of the costs of articles 1 and 2 hereof, for which incentives are provided for carrying out transactions with electronic means of payment, are pre-filled with the possibility of change in the income tax returns, based on the data provided by the payment service providers.
This applies to expenses incurred by beneficiaries in tax years 2022 through 2025.”
