Extension likely for tax declarations

In the last few days the country’s Finance Ministry has issued repeated calls to taxpayers to submit their income tax declarations on schedule – by June 30 – as its coffers may not be able to meet the state’s August obligations, which exceed 6.7 billion euros.

Out of a total of 5.8 million statements expected, just 3.15 million had been submitted up to Monday. Submissions had even started to slow down over the last few days. With the tax service still awaiting income details for 2013 from over 2.6 million taxpayers by next Monday, the deadline will have to be extended given that the online system can only manage up to 170,000 statement per day without crashing.

Sources say that the ministry has decided to issue an extension up to July 25, but will not extend the deadline for the first installment of the tax due, which will likely remain July 31 so that the state can meet its August obligations.