BUSINESS

Record in tax statements on deadline day

By Prokopis Hatzinikolaou

A record number of over 200,000 taxpayers submitted their income declarations on Monday, on the deadline for the electronic filing of their statements, taking the total number of timely submissions to 5.67 million. The first installment for those having to pay more tax is scheduled for end-July.

The question now is how tax authorities will deal with the almost 100,000 taxpayers who failed to send in their tax declarations in time, given that no further extension has been granted.

The ministry has not announced whether forms submitted in the next few days will be treated as late and bear the penalties that untimely submission entails, i.e. the payment of hefty fines and the rejection of receipts normally used to build a 2,100-euro exemption of taxable income for salary-workers and pensioners.

As of end-July the Finance Ministry will start sending electronic notifications to taxpayers regarding the payment of the new Single Property Tax. The new tax will be payable either in a lump sum with a 1.5 percent discount, or in up to six tranches, the first one being by end-July or more likely by end-August.

Online