Greece’s additional tax haul up 12.5% on last year

With the final deadline for submission of income tax statements at 3 p.m. Thursday, tax authorities announced that additional tax payments - beyond tax withheld at source, mostly for salaried employees and pensioners - was 12.5% higher than last year.

Data show that independent professionals, a category long suspected of severely underreporting their incomes, this time reported more taxes.

One of the incentives is the tax authorities' decision to thoroughly audit those who reported income of less than €10,000.

Those few who failed to file statements will pay fines ranging from €100 to €500, if they are liable for additional taxes exceeding €100.

About one in six taxpayers, slightly over 1 million, will get rebates, unless they owe social security system contributions, in which case the rebate will be offset against the debt.

Continue reading on: