Accountants and tax specialists are on the verge of a nervous breakdown. The deadline for submitting tax returns usually expires in eight days, and roughly 1.5 million returns for pure individuals and over 120,000 returns for authorized entities haven’t been submitted. Requests to increase the deadline are raining down on the Ministry of Finance and AADE, with accountants citing errors and omissions within the declaration system and the shortcoming to meet their skilled obligations.
For its half, the Ministry of Finance talks in regards to the excessive charge of submission of tax returns in latest days (together with on Tuesday and Wednesday over 100,000 returns had been submitted per day) and estimates that the method could be accomplished by July 26 2024 which expires in response to the schedule.
Fines
On the middle of the accountants-treasury dispute are lots of of 1000’s of taxpayers who danger going through fines of between 100 and 500 euros and elevated tax if their returns are submitted after the July 26 deadline. Those that submit an preliminary or amending tax return after the deadline won’t pay a superb if the tax doesn’t exceed 100 euros.
Nonetheless, taxpayers with debt settlements will likely be charged curiosity of 0.73% for every month of delay from the due date of tax fee.
Overdue Amending Assertion
For taxpayers who will submit late amending earnings tax returns with a debit assertion, the next applies:
1. If from the preliminary on-time declaration the clearing assertion was zero or credit score and from the amending declaration there may be an extra tax fee of as much as 100 euros then no penalty for late submission will likely be imposed.
2. If a zero or creditable quantity of tax resulted from the unique well timed declaration and an extra tax of greater than 100 euros was incurred from the late modification, then a superb is imposed:
100 euros if the taxpayer just isn’t self-employed or an entrepreneur.
250 euros if the taxpayer is self-employed or an entrepreneur and retains easy books
500 euros if the taxpayer is an entrepreneur or self-employed individual and retains double-entry books.
3. If the overdue amending declaration ends in a tax enhance of greater than 100 euros, then a superb is imposed:
100 euros if the taxpayer just isn’t self-employed or an entrepreneur.
250 euros if the taxpayer is self-employed or an entrepreneur and retains easy books
500 euros if the taxpayer is an entrepreneur or self-employed individual and retains double-entry books.
Supply: ot.gr
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