Income tax in India

Accountants are already taking it for granted that the deadline for the submission of income tax declarations concerning last year's incomes will be extended. Sources say it is possible the new deadline will be 30 days later, on July 30, with the following day being the last day for the payment of the first tranche due.

The overdue arrears of individual taxpayers and corporations to the state climbed to 4.15 billion euros after the first four months of the year, as the growth rate continues to be about 1 billion euros per month, meaning that by the end of the year new debts to the state will likely exceed 12 billion.

The Taxisnet online platform for income tax declarations for 2017 incomes opened late on Thursday, after a long delay.

Taxpayers will have to submit their statements by the end of June, and have the option of paying their dues in three tranches, with a July 31 deadline for the first installment.

Over 3.3 million taxpayers owe the tax authorities amounts of less than 3,000 euros each. According to figures published by the Independent Authority for Public Revenue, the state conducted 1.72 million confiscations of salaries, pensions and rent payments last year, mostly concerning small debtors.

Spouses will now be able to submit separate income tax declarations if they so wish, following a verdict by the Council of State, and will then be able to receive separate tax clearance documents too.

Tax office is calling property owners in Greece. 6.3 million owners will have to pay in total 3.153 billion euros in property tax (ENFIA 2017) for the time between September 2017 and January 2018.

The declarations for the so-called Unified Property Tax (ENFIA) were uploaded on taxisnet on Sunday evening, a week earlier than originally scheduled.

Over BGN 1.1 million will save the business annually from one of the proposed amendments to the Tax and Insurance Procedure Code (TSPC), which are published by the Ministry of Finance for public discussion. This was announced by the National Revenue Service (NRA).

No change is expected to the heavy bill of the Single Property Tax (ENFIA) which Greece's leftist-led government is imposing for a third consecutive year despite pre-election promises to abolish it.

After the submission and processing of 6.1 million income tax declarations, the Independent Authority for Public Revenue has started uploading the ENFIA notices for 2017 on its website.

Following calls by tax experts and the market sector, the Greek Finance Ministry issued an official announcement extending the deadline for the submission of income tax statements regarding physical and legal entities until Friday, July 21.

Contrary to earlier information that taxpayers would have to pay between 0.25 and 0.50 euros for every payment to the state as of this month if made via bank counters, it emerged on Thursday that the charges banks intend to impose on taxpayers using their counters to pay income tax, single property tax (ENFIA), value-added tax etc, will range between 1.10 and 1.50 euros per transaction.