Of Chrysostom Chufi

Adding a small word to the conversation around the payment of income tax and securing the discount has caused a huge misunderstanding. A misunderstanding that is largely “to blame” and the AADE who sees in the public debate make this mistake and not correcting it, “accountants” and taxpayers’ themselves – those who know at least – who do not inform their customers and taxpayers and we are to blame.

So the mistake has to do with the one -time word. Nowhere in the law does not mention that in order to receive a tax deduction, they have to pay the one -off tax. The exact expression of Article 84 of Law 5162/2024 (A ‘198) – and after explaining that the earlier the statement is made, the greater the discount – at the end of it is “The tax due was paid until the deadline for payment of the first installment.”

Where the word lips and the writings of economists emerge is worthwhile. But because of it many are discouraged and lose the discount. And with them the state loses, which prefers to have the amounts in its funds earlier than later.

Take, for example, a taxpayer who submits his tax return today, April 7th. The tax that is confirmed is suppose 800 €. The deadline for the first installment expires on July 31 and this taxpayer considers that they mistakenly repay the lump sum tax by July 31 to secure a € 32 deduction. But if it does not have 800 € – which is very likely and reasonable not to have – it will be discouraged and paying in installments.

But in reality, what is true is that to get the deduction it simply needs to have repaid its tax by July 31st. Not. It can pay for example 200 € in April, 100 € in May, another 100 € in June and 200 € in July and again receive the discount. In fact, he can make any combination he wants, whoever convenients him.

According to the current timetable, if the tax is repaid – with any combination of payment – no one -off until July 31, the discount provided is as follows:

  • 4% to submit a statement from March 17 to April 30
  • 3% to submit a statement from May 1 to June 15
  • 2% to submit a statement from June 16 to July 15

The study of tax filing data so far shows that about 1 in 4 (27.2%) are debit. 264,000 taxpayers are required to pay 332.3m €, ie an average tax of € 1,259.

So all of them should know that they do not need to pay their tax to receive the deduction. It is enough to be okay with the commands that have been set.