BUSINESS

Only 1 in 8 taxpayers has filed tax form

By Prokopis Hatzinikolaou

Just 12.5 percent of taxpayers have submitted their income tax declarations to date, with just 40 days remaining to the deadline for the filing of the electronic forms. It appears that most taxpayers have chosen to wait until the final hour on June 30 or may be hoping for an extension.

Finance Ministry officials say that the delay is to a great extent due to several changes made to legislation (on the taxing of the unemployed, students and small depositors), which had not been implemented on the electronic forms until last week. Now that the changes have been put through, these groups are able to submit their electronic tax forms.

However, ministry sources have expressed fears that the huge volume of tax declarations expected to be submitted in end-June may cause a system overload and problems to the submission process.

Out of the 696,367 taxpayers who have already submitted their income tax statements, about one-third (235,456) will have to pay additional tax for incomes obtained in 2013, while the rest have either a balanced result or are entitled to a tax return.

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