A 3% tax deduction is available to taxpayers who will pay the income tax in one lump sum by August 2, the deadline for submitting tax returns for natural persons. Initially, the tax deduction referred to a one-time payment until July 31.

This is defined by the amendment of the Ministry of National Economy and Finance with the new deadlines for the payment of income tax which was submitted to the Parliament.

In particular, with an amendment submitted to the bill of the Ministry of National Economy and Finance entitled “Restructuring of the Hellenic Holdings and Property Company and its subsidiaries» the postponement of the deadline for the submission of tax returns for 2023 is foreseen. At the same time, it is stipulated that the possibility of a one-time payment of the tax by making use of the provided deduction in accordance with the new dates is also postponed. Included in the same amendment are provisions for the licensing of constructions on beaches by the municipalities and concessions of these areas to neighboring businesses.

In detail, as already announced, the postponement of the deadline was given after the identification of some technical problems in the declaration submission system due to the mass submission of declarations by the accounting applications. Thus, the new deadlines for submitting the 2023 income tax returns are defined as follows:

  • August 2 for the declarations of natural persons,
  • August 9 for the declarations of legal entities.

Regarding the income tax repayment installments, it is noted that they are paid in 8 equal installments for natural persons and for legal persons/entities as follows:

  • For natural persons: The first installment is paid by August 2, 2024, the second by the last working day of August 2024 and each of the following 6 to the last working day of the following 6 months. It is noted that, when the income tax is paid in one lump sum by the deadline for the payment of the first installment, i.e. August 2nd, a discount of 3% is provided.
  • For legal persons or entities: The payment of the first installment is paid by August 9, 2024, the second by the last working day of August and each of the following 6 by the last working day of the following 6 months.

It is noted, however, that the payment of the income tax of natural persons participating in legal entities and legal entities that keep aplographic books, is made in 6 equal monthly installments, of which the first is paid until September 30, 2024 and each of the following until on the last working day of the 5 following months.

Another provision of the amendment resolves backlogs that had remained in coastal areas, where municipalities had built projects, which they failed to permit in time. The result of this omission by the municipalities was that no economic activity of any kind was possible in these parts, as well as causing confusion for businesses as to their rights and obligations.

With the regulation of the amendment, these issues are addressed, as municipalities are given one more possibility to license projects that were built before 2011 so that, subsequently, it is legal to grant seashores and beaches to businesses for simple use. This possibility is provided with a deadline of January 1, 2025, when at least an environmental impact study must have been submitted by the municipalities for the licensing of constructions on the coasts and beaches. In the interim period, the granting of simple use of the beaches is allowed, provided that the municipality certifies that the relevant facilities are safe for the public and the business.