ECONOMY

Taxpayers to get deadline extension

taxpayers-to-get-deadline-extension

Two weeks before the deadline for the submission of income tax declarations on June 30, some 4 million taxpayers have not yet uploaded their statements for last year’s income, which makes a deadline extension increasingly likely.

Until Tuesday, the Independent Authority for Public Revenue had received 2,451,765 statements online, while the total number of statements due every year comes to around 6.5 million.

For the process to be completed in time it will take the submission of 285,000 declarations per day, which has never happened in the past.

It seems certain, therefore, that the Finance Ministry will extend the submission deadline, probably until July 25, but without changing the deadline for the payment of the first installment of the tax due on July 31.

The government has already announced that it will allow the payment of taxes to be done in more installments this year for all individuals and companies, while individual taxpayers who choose to pay in a lump sum will be granted a 2% discount. To date, 30.46% of taxpayers who have uploaded their income declaration will have to pay additional tax.