of Chrysostomos Tsoufis

The new E1, whose posting is perhaps a matter of a few hours, for many is a very simple matter. If they are employed and retired with no additional income, all they have to do is just run through it and press enter to submit the return. And from this year they don’t even have to press it, AADE will do it for them.

For many more, however, not completing the codes correctly will get them into trouble as it leads to an “inflated” tax.

Therefore, special attention is needed in the following points:

Wages – pensions: The data is pre-filled (codes 3370338), but it doesn’t hurt to check. There are cases where salary certificates contain errors, which if not corrected, lead to increased tax.

Young entrepreneurs: Those who submit a declaration for the first time and have income from business activity must fill in the codes 327-328 so that the tax advance is reduced by half.

In addition, new self-employed persons with an income of up to €10,000 must also fill in codes 017-018, in order to reduce the tax rate by half (4.5% from 9%).

“Blocks”: Taxpayers who are paid with a “block” must declare it. This is the only way to ensure a tax deduction:

  • up to €777 for single people
  • up to €810 for a married person with a dependent child
  • up to €900 for a married person with 2 dependent children
  • up to €1,120 for a married person with 3 dependent children

Elderly: Taxpayers who have reached the age of 70 are exempted from the obligation to cover 30% of their income with electronic receipts. The same applies to permanent residents of villages with up to 500 inhabitants and islands with up to 3,100 inhabitants. Prerequisite is the completion of codes 023-024.

Those who were born before 31/12/1961, i.e. are 63 years old, and are engaged in business activity, must also declare this in order to be exempt from the pretense fee.

Uncollected rents: Property owners who rent out their properties but do not collect the rents, to avoid taxation should have sent an eviction notice to the tenant. Uncollected rent amounts are declared in codes 125-126.

Insurance contributions: Contributions paid by the insured to compulsory insurance bodies to buy up insurance time (eg military service) reduce taxable income. It is enough to write them in the corresponding code.

Other amounts: There are certain categories of income that are both exempt from income tax and at the same time can cover presumptions. They are reported in codes 781-782 and include:

  • Sales of real estate and other assets
  • One time
  • Loans
  • Inheritances – Parental Donations
  • Winnings from games of chance
  • Welfare benefits
  • Special purpose compensations
  • Compensation for moral damage

Donations to the State: For amounts over €100, they reduce the income tax by 10% of their amount. That is, for a donation of €1000, the tax is reduced by €100. However, a donation cannot exceed 5% of the taxpayer’s taxable income and is entered in codes 059-060.

Evidence: The student residence of the children studying away from the place of permanent residence is declared as the secondary residence of the parent so that the presumption falls on him.

A child – minor or adult – is considered dependent if their annual income – real or assumed – does not exceed €3,000 or €6,000 if they have a disability of over 67%.

Vacant or unfinished houses have no presumption. However, they are completed in E2 and not in E1.

Everyone who has reached the age of 18 by the last day of 2023 and has a real or assumed income of even €1 must submit a tax return.