Saturday, February 25, 2023

CLEARANCE OF TAX RETURNS MAKING PROGRESS

 Filenews 25 February 2023 - by Eleftheria Paizanou



The clearances of the tax returns of individuals and companies exceeded all precedents. In recent months, according to data obtained by "F", the Tax Department proceeded with the liquidation of a total of  €1.5 million on tax returns. The clearance of such a large number of late tax returns is due to the late work clearance campaign recently being conducted by the Tax Department.

The clearance of tax returns concerns for companies the tax year 2019 and for individuals the tax year 2018. According to data from the Tax Department, the clearance of income statements resulted in a refundable income tax of €45 million. and a tax payable of €100 million. That is, the competent department imposed taxes amounting to €100 million. and will return to taxpayers an amount of €45 million.

Based on the data of the Tax Department, from the corporate income statements 2015-2018, more than 300,000 taxes have been cleared and another 31,000 taxes for the years 2019/2020 are expected to be cleared by March 2023. Also, the income statements of individuals up to and including 2018 (about 850,000 declarations) have been cleared by 31/12/2022 and another 31,000 statements for the years 2019/2021 are expected to be cleared by July 2023.

According to the Department's planning, with the submission of the tax returns of the companies for the tax year 2021 in March 2023 and the submission of the declarations of the employee and self-employed for the tax year 2022, in July 2023, the goal is to have cleared all the tax returns of all previous years and by the last year for which returns have been submitted. It is worth mentioning that by clearing the tax returns, the state wins, which imposes additional taxes, as well as the taxpayers, who are refunded taxes. In the meantime, after clearing the delayed work, the tax department's goal is to clear tax returns within 3-6 months of the deadline for filing them and to have a more targeted taxpayer audit.