TAXATION

Extensions point to delays

New deadlines for taxpayer data submission by banks and schools likely to lead to problems

Extensions point to delays

The long tradition of deadline extensions for the submission of revenue data to the tax authorities continues, as it appears that state and private sector entities are unable to honor their commitments in time, as required.

Credit institutions and private schools now have until this Friday to submit detailed information about their clients so that it can be incorporated in the tax declarations to be filled this spring – the original deadline had been January 15 for banks and February 28 for schools. That means the process for the submission of income tax declarations by taxpayers and corporations may be delayed.

That was the first deadline extension concerning this year’s tax statements, and history shows more will follow, resulting in problems in the collection of tax revenues and in the increase of expired debts.

Another decision announced yesterday provides for the extension until this Friday of the deadline for expressing an interest in separate tax declaration by spouses. Applicants need to be careful because in some cases that may lead to additional tax, through the separate calculation of the taxable assets used for estimating one’s real incomes (“tekmiria”).

In a separate development, the state on Tuesday opened the A21 online platform for applications to collect child benefits. It will remain open until March 11. Parents eligible for child benefits can submit their applications on the IDIKA platform (www.idika.gr) or via the www.opeka.gr website by using their Taxisnet username and password.

The amount due in each case will be calculated based on the number of dependent children declared on the A21 form of 2022, and on the total household income that applicants had during the 2021 tax year. However, until the submission of the tax declarations, the state will calculate the benefits due based on 2020 incomes. For the handout to be disbursed, applications will have to be definitively submitted and approved.