Packed with new codes related to the newly introduced objective system taxation of the self-employed and with many critical fields for tax exemptions and reductions is the main thing form E1 of the statement they will submit this year 9,000,000 natural personswith her AADE to open the electronic portal today until the end of July.
1 million employees and pensioners will not need to submit a declaration
For the first time this year, 1,000,000 employees and pensioners will not have to submit a declarationas the process will be done automatically by the system, while for approx 730,000 freelancers and self-employed the amount with the minimum presumptive income will be “sewn and ready” by AADE. However, those who believe that the income calculated by the tax office is higher than the real one can dispute it by submitting a request for an audit or for objective reasons on the AADE platform in the first fortnight of May. However, they will have to fill in the codes 443-444 in E1. Those who receive a debit note should be aware that the repayment of income tax will be in eight equal monthly installmentswith the first being paid July 31 and the last one February 2025. In the event that the additional tax is paid once, a discount is granted 3% on the total amount.
The new codes added to form E1
What professionals should watch out for:
1. Codes 045-046: They concern those who are exempt from the minimum net income or are entitled to a proportional reduction of the presumptive 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.
- Exercise of business activity for a limited period of time.
2. Codes 047-048: They concern those entitled to a 50% discount on the minimum presumptive 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?
• Are you a taxi operator with an ownership percentage of less than or equal to 25%?
• Do 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 mentioned in the decision of the AADE for the exemption or reduction by 50% of the presumption, the taxpayers should have the required supporting documents.
3. Codes 405-406: In these codes, professionals will see the minimum presumptive income pre-filled. By clicking on the code, a table will appear in which the calculations of the Tax Administration regarding the determination of the minimum net income will appear.
4. Codes 443-444: They should be completed by those who dispute the assumed income and will request an audit to prove the accuracy of their declaration of lower income. The taxpayer is obliged, no later than within 60 days from the end of the deadline for submitting the declaration, 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-paid by the Tax Administration in the case of determining a minimum net income (e.g. taxpayers who have moved their tax residence to Greece and are paid in lump sum).
*Published in “Afternoon”
