Income tax discount of 4% for early one-off payment
The tax autorities will next year process the declarations of 1.4 million taxpayers by early April at the latest, in order for taxpayers not to miss the maximum deduction in the case of a one-off payment of the tax.
Therefore those who wish to get a 4% discount on their income tax dues will just have to press the confirmation button by April 30 at the latest and simply submit the declaration that will already be cleared by the Independent Authority for Public Revenue (AADE).
Those who do not do so will have a second chance until June 15, earning a 3% discount on the one-time tax payment, while for those who do not deal with their declaration at all until the July 15 deadline, the tax administration will consider it complete, and offer them a 2% discount when they pay any additional tax due in one installment.
Otherwise, they still have the possibility to pay the first installment at the end of July, with AADE processing the return even if taxpayers with pre-filled returns have not proceeded to submit it definitively.
In 2025, with the changes decided by the government and AADE, the pre-filled returns will remain at the same levels, i.e. they will not exceed 1.4 million declarations. This is because both the National Economy and Finance Ministry and AADE want to avoid any mistakes that would lead to the submission of amending statements, as was done this year.
It is noted that due to errors in the data from banks, the Single Social Security Entity (EFKA) and other institutions and organizations, more than 350,000 amending declarations had to be submitted.
Last year tax experts used data collected from all the country’s accountants and recorded the problems in the declarations, mainly in the pre-filled ones, informing the ministry and AADE with the aim of solving them. According to the data, 420,000 of the 1.4 million pre-filled declarations were automatically submitted by AADE. In the rest, either small corrections were made or simply the taxpayers checked their declaration and submitted it, pressing the “send” button.
The mistakes and the thousands of amending declarations led the ministry to define a predetermined period of time in which the tax declarations will be submitted, namely from March 15 to July 15, both for individuals and for corporations.
Discounts were also decided for those who pay the full amount of income tax by July 31 of each year and if they submit their tax return, as follows:
- 4% discount for anyone who submits a statement from March 15 to April 30.
- 3% discount from May 1 to June 15.
- 2% discount from June 16 to July 15.
