As of this week, the Tax Department will most likely post on its system employee and self-employed income statements for fiscal year 2019. A few days later, the electronic submission of tax returns will follow.
The delay is due to changes in the electronic system of the Department of Taxation, which were not completed in time due to the coronavirus pandemic. It is worth noting that due to the delay an extension of the deadline for the submission of tax returns was granted until 30 October. However, the government is reportedly considering extending it for a few more weeks so that taxpayers have enough time to file their tax returns. In addition to submitting employee and self-employed declarations, taxpayers will be able to pay the tax due calculated from the employee's self-taxation for the tax year. As we are informed, changes to the Tax Department system will help simplify the process of filing tax returns.
In the 2019 tax returns, some items will be automatically transferred to the fields. There will also be an interconnection of TaxisNet with the Social Insurance system. By entering TaxisNet, taxpayers will be connected to the system where data on social contributions, earnings and cuts for the GHS will be displayed. Social security data will be automatically transferred to the relevant fields of taxpayers' tax returns. Moreover, this year the income tax exemption will be one-fifth of the 1/6 that was in force in previous years. It is recalled that from 2018 it is mandatory to submit tax returns electronicly.
According to data from the Department of Taxation last year for the fiscal year 2018, more than 290 thousand were submitted electronically. Statements. Of these, 258,410 relate to electronic declarations of income of employees and 31,721 declarations of self-employed persons. There were also almost 4mm of work to be spent on the 2015-18 season. income declarations of employees and 658 self-employed persons in paper form, relating to tax years not applicable to the compulsory electronic submission of declarations. In addition, more than 293 mm were submitted electronically in 2018. tax returns.
Through the Taxinet system, 256,120 employee income declarations and 36,960 self-employed declarations were submitted. In paper form, 14,453 employee tax returns and 3,854 self-employed declarations were submitted. It is recalled that this year taxpayers with annual incomes in excess of €19,500 are obliged to file tax returns.
