ECONOMY

Extension imminent for tax forms

Taxpayers will likely be able to submit their 2012 income declarations after June 30 this year, after General Secretary for Public Revenues Haris Theoharis said on Monday that the deadline for electronic submissions will probably be extended.

The extension is likely to be granted due to bureaucratic hiccups in the process, such as a delay in issuing revenue forms for pensioners and a delay in publishing circulars and ministerial decisions resolving the high number of outstanding issues in the declaration procedure.

This year every person aged 18 or above is obliged to submit an income declaration online (at www.gsis.gr) unless they are considered protected family members (i.e. students, soldiers, etc.). All forms of income must be declared, including interest from bank accounts, although it remains unclear how this should be done.

The instructions booklet released on Monday by the Finance MInistry says nothing about the declaration of revenues from interest, while banks are still examining the possibility of issuing statements for all depositors who have earned interest of more than 250 euros in 2012.