92% of taxpayers have submitted a tax return

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Almost two weeks before the deadline for submitting tax returns, taxpayers appear to be consistent with their obligations, as 92% have submitted their income tax returns.

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Specifically, 5.9 million have submitted their declaration and based on last year’s data there are approximately 528 thousand declarations left to be submitted, which means that every day from now on approximately 35,000 declarations per day will have to be submitted in order to reach the target, which is estimated to be completely achievable.

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Based on data from the Independent Public Revenue Authority (AADE) 65% of those who have submitted a tax return, i.e. 13 out of 20 taxpayers are not going to pay additional tax. At the same time, it is easy to conclude that in 2021 the Greek economy has recovered significantly and this can be seen both from the increase in GDP and from the declared incomes.

As can be seen from the AADE data so far, 5,857,523 E1 tax returns have been submitted, while last year by the end of the deadline, i.e. on September 16, 6,386,268 returns had been submitted.

It should be noted that up until Friday, the data had been confirmed in the AADE by 8,567,614 taxpayers. The difference arises from the fact of the joint submission of declarations by the spouses or those who have entered into a cohabitation agreement.

Let’s take a look at the data so far – data from Friday 12 August:

5,857,523 tax returns have been submitted, corresponding to 92% of what was expected.

Of these, 51.95% i.e. 3,042,983 are zero. Last year zero was 50.89%.

34.54% i.e. 2,023,188 declarations are in debt and taxpayers are asked to pay an additional 2.5 billion euros. The average payment amount is 1,244 euros, compared to 966 euros last year, marking an increase of 28.8%, as a result of the increased incomes that the same taxpayers had last year.

13.51%, i.e. 791,351 taxpayers will get back a tax refund totaling 327 million. Last year, 16.21% received a refund. The average refund amount is 414 euros, compared to 269 euros last year, an increase of 54%.

It should be noted that those who submit their tax return by August 30th do not lose the 8 installments for the payment of income tax, but by August 31st they must have paid the first two installments of the tax, i.e. the July installment and the August installment. Also, the 3% discount is granted if the tax is paid in one lump sum by the end of August.

Error correction

However, taxpayers have the possibility to correct any mistakes, gaps or omissions in the data of their tax return until August 30 without any financial penalty or other sanctions as the extension given for the submission of the initial returns also applies to the amending ones. Thus, through the AADE platform, taxpayers can submit a corrective income tax return, submitting, if there is an obligation, the E2 form or the E3 form.

More specifically, if the taxpayer finds that the tax return he submitted to the tax office contains an error or omission, for example code 049-050 of E1 regarding electronic receipts has not been filled in, he has the opportunity to submit an amended tax return. In these cases, he does not need to fill in all the codes of his declaration from the beginning, but he will modify or fill in only those parts of the original declaration in which there are errors or omissions.

Source: AMPE

Source: Capital

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