The National Economy and Finance Ministry has announced an extension for the submission of tax returns for last year’s incomes. The deadline has been pushed back by one to two weeks, providing taxpayers with additional time to complete their filings.
In a recent statement, issued approximately 27 hours before the original deadline of midnight on July 26, the ministry revealed that the new deadline for individual taxpayers to submit their tax declarations is now Friday, August 2 at midnight. Additionally, this date is also the new deadline for the payment of the first monthly installment for any taxes due, which was initially set for July 31.
Tax Deadlines Announced
Corporations have also been granted an extension. They now have until the following Friday, August 9 to upload their tax returns. This extension partly addresses the market’s demand for more time due to delays in the submission of tax data by various entities in the broader public sector, which have consequently slowed down the entire process.
- New deadline for individual tax returns: August 2 at midnight
- New deadline for the first tax payment installment: August 2 at midnight
- New deadline for corporate tax returns: August 9
This extension aims to accommodate taxpayers and ensure a smoother submission process for all parties involved. Make sure to mark these new dates on your calendar to avoid any penalties or delays in your tax filings.
August 9 marks an important date for businesses as it is the deadline for the first installment of the corporate tax.
Discounts for Early Payment
The ministry has clarified that the 3% discount for taxpayers who pay off all their dues in one go remains valid until July 31. This provides an incentive for those who can settle their taxes early to benefit from this discount.
Improvement in Tax Declarations
As of late Thursday, over 6 million taxpayers had already filed their income tax declarations, out of a total of approximately 6.5 million. This represents a significant improvement from previous years, with an increase of about 700,000-800,000 filers. This improvement highlights a positive trend: more Greeks are adhering to their tax obligations. This uptick in compliance is partly due to the automatic submission of returns for over 1 million pensioners and salary workers on July 2.
Last-Minute Rush and System Overload
This week saw a late rush of taxpayers scrambling to meet their annual obligation of filing returns just before the deadline. The increased traffic caused Taxisnet to become overloaded and crash at several points.