Tax returns: The countdown has begun – When will the first installment be paid?

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According to the plan so far, the first installment of income tax will be paid at the end of July and the last in February 2024

By Chrysostomos Tsoufis

Many taxpayers have yet to finish paying their income tax for 2022 – the last installment is due by the end of February – but the process of posting their 2023 tax returns has already begun.

The first step has to do with the sending by the accounting offices of the companies, public bodies and banks to the AADE of the certificates for every type of salaries, pensions, dividends, allowances and deposits. The deadline for sending this information is February 28 so that, when the platform opens for submission at the end of March, the tax returns must have all the relevant fields pre-filled. According to the planning so far, the first installment of the income tax will be paid at the end of July and the last in February 2024.

Most of us may let time pass and submit the tax return in paragraph 5, but there are some categories of taxpayers who are literally “burning” for the platform to open as soon as possible. These are those who claim benefits resulting from the liquidation each time of their tax return, which requires their submission.

According to the instructions he has given the head of AADE, Giorgos Pitsilisin order to avoid mistakes and inconvenience to taxpayers, there are 3 new cases of aid that are not taxable and must be declared separately in the tax return:

-The extraordinary financial aid of 600 euros given in December 2022 to the uniformed personnel of the Ministry of Citizen Protection and the Coast Guard-Hellenic Coast Guard, in which no tax is withheld and is exempt from the special tax solidarity levy.
-University scholarships and awards that do not constitute income.
-The monthly lifetime honorarium to the Greek hoplites due to their participation in the events of Cyprus in the years 1964, 1967 and 1974, which from 2020 has been defined as tax-free.

The following are also exempt from taxation:

– Employee travel expenses
-The housing allowance
-Any kind of financial support that has been given (Fuel Pass, Power Pass)
-The birth allowance
– Aid for natural disasters
-The foreign refugee allowance
-Regular and extraordinary allowances and support for vulnerable social groups such as punctuality checks.

OPECA welfare benefits for uninsured seniors, the Minimum Guaranteed Income, the Social Solidarity Allowance and the Homogeneous Refugee Allowance, although they do not fall under any income category, are sent and pre-filled in the tax return, but to cover presumptions and not to be taxed.

Separate instructions have been given:

-For Fees to employees with a daily wage and who provide services for a certain period of time but lasting less than one year, as well as to tour guides, for which a 5% withholding tax is carried out, from 14/6/2018.
– For the non-institutional benefits paid to disabled persons that from 1/1/2022 From 1/1/2022 appear in the statement but are excluded from the calculation of income from salaried work and pensions.

In cases of retroactive payments that concern deceased persons and have been collected by the heirs and not by the deceased, no file is sent, as these amounts do not fall under the concept of income.

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