Filenews 25 September 2021 - by Eleftheria Paizanos
A new extension to the filing of tax returns by companies, for the 2019 tax year, was given by the Department of Taxation, in an effort to facilitate their compliance with their tax obligations.
By decree issued yesterday by the Minister of Finance Konstantinos Petrides and published in the Official Gazette of the Republic, an extension is given until November 30th for the submission of the tax return of a company (Form Τ.Φ.4) and a self-employed person whose turnover exceeds the amount of €70,000 and has the obligation to prepare audited accounts (Form T.F.1 of the self-employed person), for the year 2019. That is, on the same day that the deadline for the submission of the income statements of the employee and the self-employed for the tax year 2020 expires.
This is the second time that companies have been given an extension to file their income statements for 2019. Initially, these tax returns had to be submitted by the end of March, however, due to the continuation of the pandemic, the House approved a bill that extended the deadline to the end of September. And now, following requests, a new extension has been granted until the end of November.
Comply
Meanwhile, the number of taxpayers (employees and self-employed) who have submitted their tax returns electronically for the 2020 tax year is increasing. Within three weeks their number doubled. Specifically, a total of 70,500 income statements were submitted. Of these, 64,000 submitted by employees and 6,500 self-employed. For 59,500 income statements were filed definitively while 11,000 tax returns are on temporary receipt.
According to data from the Department of Taxation, out of 59,500 taxpayers who definitively filed their tax returns, there are 54,000 from employees, and 5,500 from self-employed persons. Moreover, for the 11,000 tax returns that are being processed, i.e. in temporary receipt, there are 10,000 from employees and 1,000 from self-employed persons.
With the temporary custody of their tax return, taxpayers can take care of it again at a later time, while after the final submission of the tax return, no changes can be made by the taxpayer. The Department of Taxation, is sounding the alarm to those who have temporarily recorded their tax return, inviting them to proceed to a final submission by the end of November, otherwise they will be fined €100 for violating the law due to late submission.
It is recalled that the obligation to submit a tax return is imposed on individuals whose gross total income for the year 2020 is equal to or greater than €19,500. The Department of Taxation estimates that in October the number of taxpayers who will file their tax returns will increase.
