By Chrysostomos Tsoufis

Six out of 10 businesses reported either a loss or zero taxable income last year. Only 1,333 companies, just 0.4% of the total, declared a taxable income of more than €2.1m and they are the ones that bear more than half, 56%, of the total taxes on companies.

More specifically, the analysis of the data from AADE showed that:

PROFITS TAX OFFICER Number of N.P. Percentage of total

<0 (losses) 130,756 39.20%
0 78,822 23.63%
1-10,000€ 36,504 10.94%
€10,001-90,000 59,528 17.84%
€90,001-€300,000 18,201 5.46%
€300,001-2,100,000 8,444 2.53%
2.100.001-7.500.000€ 1.016 0.30%
>7,500,001 317 0.10%

The number of businesses reporting zero profits was at its lowest level since 2013. Conversely, the number of profitable businesses was at its highest level since 2015.

In total for the fiscal year 2022, 333,588 companies submitted a tax return, a number increased by 7% compared to the 311,292 of the fiscal year 2021.
Total declared taxable profits increased by €7.22bn to €25.16bn from €17.9bn in 2021. The tax they paid amounted to €6.65bn, up significantly by almost 41% from €4.72bn in 2021. This is a record since 2011 for which data is available and is of course due (in addition to increased profitability) to the extraordinary levies imposed on energy companies.

As expected, the lion’s share of the declared taxable income is held by SA-EPE-IKE with €19.8 billion, 79% of the total. And they paid correspondingly a tax amounting to €5.2 billion. Advance tax amounted to €3.77 billion, the highest amount since 2011.

We also had an increase in the total amount of losses declared by companies, from €36.1 billion in 2021 to €37.6 billion in 2022.

According to the current tax framework, all legal entities are required to submit an electronic tax return.

They do NOT submit a tax return electronically:

-Businesses that have made use of incentives for transformations and tax deductions
-Businesses in liquidation
-The institutions under establishment
-Companies that manage more than one endowment which are funds of independent management and lack legal personality.
-In case of distribution of profits from Business Equity Companies
-Reviving businesses
-Businesses under VAT suspension due to intra-community transactions
-Businesses with proven technical weakness