TAXATION

Taxpayers must check declarations

Taxpayers must check declarations

Millions of taxpayers are up against potential pitfalls in their tax returns, that could lead to additional taxes. Thorough scrutiny, especially by taxpayers whose returns are pre-filled by the tax administration, is imperative, as they may be taxed not on their actual incomes but on the basis of their assets used for assessing their presumed income (“tekmiria”).

Special care is also required by those who have interest, dividends and income from abroad, and those with uncollected rents.

In all those cases, the tax can be particularly high and taxpayers will have to submit amending declarations, as long as they have taken care to collect the necessary supporting documents in time. This means that it is not enough just to declare, for example, that someone has unpaid rents.

Although the filing process is currently slow, taxpayers should start checking and if in doubt seek the help of an accountant. According to one tax expert, “although declarations are pre-completed for most taxpayers, they still request an audit to determine if there are errors and omissions. The fear is mainly about whether the information is correct and if the codes have been filled in properly.”

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