The first tax returns have already been filed and on this basis the independent Greek tax office issued a profit and loss statement for the previous year.
In particular, 123 329 declarations were filed until yesterday, most of them with zero income. This is due to the fact that no tax is levied on 60% of currently filed tax returns.
This percentage is extremely high and is largely due to changes in rates and tax scales. It is noted that the self-employed are now taxed at an initial rate of 9% for incomes up to € 10,000, while their tax advance has also been reduced (from 100% to 55%), with the result that most of them either have a tax refund or will not pay any additional tax at all.
According to the AADE, 1,784,632 tax returns were filed in the corresponding period last year, but then the filing of tax returns was opened on April 15th.
A first analysis of tax returns shows that 37,779 taxpayers with rental income have already applied for their return, as well as 7,396 self-employed.
An examination of the remaining 123,329 claims leads to the following conclusions:
22.6% of taxpayers are required to pay additional tax on profits earned in the previous year. In particular, for 36,914 taxpayers, the result of the declaration is in debit, the total tax amount is 17.1 million euros. The average tax on these declarations is EUR 464. 59.4% of taxpayers do not pay additional tax to the Greek state. In total, 96 988 of 123329 tax returns are zero tax. For 17.99% of taxpayers or 29,371 individuals, a tax refund of up to € 216 was received. Overall, 77.4% of taxpayers filing a return will not pay additional taxes and receive no tax refunds. Accountants estimate that this year the percentage of taxpayers who will receive a tax refund or not pay the additional tax will be high at around 75%.
It is noted that this year it is possible to pay income tax for individuals and legal entities in eight equal monthly payments, the first of which will be at the end of July. However, those who wish can submit a declaration free of charge by August 27 by paying the first two monthly payments. Individuals who filed a tax return before July 28 and paid the tax in a lump sum before July 30 will receive a 3% discount. It is noted that the last installment for income tax will be paid in February 2022.
Refund calculation may give rise to a payment obligation (debit balance) or tax refund entitlement (credit balance). From 2018, in the case of a joint declaration of the spouses, the tax certificate or tax refund, as the case may be, applies to each spouse separately, and debit and credit amounts will not be offset between the spouses.