Income tax in India

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.

Once all income tax declarations are in, by August 31 at the latest, authorities will focus on those taxpayers who have not filed returns over the past five years.

Cyprus' Cabinet approved several important measures on Wednesday, including a bill on tax rebates for businesses for energy upgrades, an extension of the tax payment deadline and a suspension of the obligation to file tax returns for individuals with a taxable income below 19,500 euros.

The deadline for the filing of income tax returns for 2022 has been extended to July 31, following a decision by the Deputy Minister for Taxation Policy and Public Property Apostolos Vesyropoulos.

Moreover, the payment deadline for the first tax instalment remains July 31.

The Single Property Tax (ENFIA) pay slips for over 7 million property and business owners have been posted on the myAADE digital portal for the financial year 2023.

The platform for submitting the 2023 income tax forms has opened, the Independent Authority for Public Revenue (AADE) said on Friday. 

The deadline for filing Greek income (for the 2022 calendar year) is June 30. For those owing tax, the first installment will be due at the end of July 2023 and the last on February 29, 2024 (eight installments). 

A 3% discount on the total amount of income tax will once again be available this year to taxpayers who pay it all at once by July 31, according to an amendment to the omnibus bill of the Ministry of Finance.

It is noted that the platform for submitting tax declarations is expected to open on March 30 this year, while the deadline for submitting income tax returns will be June 30.

An intensive effort by Cyprus' Tax Department in recent months has resulted in rebates of over 70 million euros of excess taxes, with an additional €200 million expected to be paid, according to the head of the department, Sotiris Markides.

He emphasized that the Tax Department aims to clear all outstanding corporate and individual taxpayer rebates by the end of 2023.

Two weeks before the deadline for the submission of income tax declarations on June 30, some 4 million taxpayers have not yet uploaded their statements for last year's income, which makes a deadline extension increasingly likely.

In a bid to bolster growth and cover the ground lost this year as soon as possible, the government is considering a second reduction to the corporate income tax deposit in 2021, as a bonus spurring enterprises to carry out investments next year.