BUSINESS

Tax statements come in faster

PROKOPIS HATZINIKOLAOU

TAGS: Taxation, Finance

More than twice as many tax declarations have been submitted compared to the same time last year, which is due to the fact that the online Taxisnet system opened earlier than ever this year.

A total of 682,150 tax statements had been submitted by May 18, 2018, while this year 1,560,252 statements had been uploaded up until Thursday, and it is likely there won’t be any need to extend the June 30 deadline.

According to a leading official at the Independent Authority for Public Revenue, the pace of tax statement submissions has increased in the last few days, topping 70,000 per day, and if this acceleration continues to take the rate closer to 100,000 submission per day, then the process will be successfully completed by June 30. According to the IAPR’s figures, another 5.5 million statements have yet to be submitted.

The 1,560,252 declarations submitted so far amount to 2,152,817 tax clearance slips: This difference in numbers is due to the fact that this year couples are getting separate tax clearance documents for the first time.

Out of the statements processed, it appears that 26.01 percent of taxpayers will have to pay additional tax for last year’s incomes: For 559,912 statements the result is negative, and the total amount of tax due from them comes to 330.57 million euros. The average amount of tax due from each of those taxpayers comes to 590 euros.

Taxpayers who have to pay additional tax will be able to do so in three installments every two months – i.e by July 31, September 30 and November 29. Besides income tax, the slips will also incorporate the solidarity levy, the charge for practicing certain professions, and the tax deposit for the following year.

Five out of eight taxpayers (62.59 percent) will have to pay nothing more than what has already been deducted from their 2018 incomes, and 11.4 percent of taxpayers, or 245,469 individuals, are due a tax rebate, which averages out to 268 euros.

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