Tax return submssion deadline extended

The National Economy and Finance Ministry announced late on Thursday the extension by one to two weeks of the deadlne for the uploading of tax returns for last year’s incomes.

In a statement published some 27 hours before the expiry of the original deadline at midnight of July 26 to 27, the ministry said that the new deadline for the submission by individual taxpayers of tax declarations is Friday August 2 at midnight. The same date is also the new deadline for the payment of the first monthly tranche for any tax due, as opposed to the original deadline of July 31.

As for corporations, the deadline for the uploading of their tax returns is now the following Friday, August 9, partly answering the demand of the market for some leeway given the delays to the submission of tax data by various entities in the broader public sector that have put the whole process behind.

August 9 is also the deadline for the first installment of the corporate tax.

The ministry clarified, however, that the 3% discount to any taxpayers paying off all their dues at once remains July 31.

Up to late on Thursday more than 6 million taxpayers had filed their income tax declarations, out of a total of about 6.5 million. That constitutes a stark improvement from previous years, by some 700,000-800,000. This improvement in the deadline compliance rate shows that – while there is still some way to go – Greeks are increasingly adhering to their tax obligations, partly facilitated by the automatic submission of returns for over 1 million pensioners and salary workers on July 2.

The late rush by taxpayers this week to fulfill their annual obligation of filing their returns, typically just before the deadline, resulted in Taxisnet get overloaded and crashing at some points.

Despite repeated assurances by Minister Kostis Hatzidakis that there would not be a deadline extension, the ministry was eventually forced to grant that small one given the technical issues and the delays in data from state entities. It is reminded that law dictates that normally tax returns ought to be filed by the end of June every year, but Hatzidakis said at the start of the filing process in spring that this year there would be a month’s extension and no more than that.