Internal Revenue Service
Last chance to file income tax statements
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Jan-July revenue beats target by €2.2 bln
Finalized data on revenue for the first seven months of the year show that it exceeded the target set in the 2023 budget by €2.246 billion, or 7.1%, as VAT and income tax receipts exceeded expectations.
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Self-employed come under tax scrutiny
Self-employed professionals who declare incomes of less than 10,000 euros will be targeted by the tax authorities immediately after the end of the tax return submission process, which ends on August 31.
The first professions to be put through the auditing wringer include plumbers, electricians and all occupations related to construction in general, as well as taxi drivers.
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New income tax filing deadline of Aug 31
The deadline for the filing of income tax returns for 2022 has been extended to August 31, following the passing of an amendment in parliament.
However, the payment deadline for the first tax instalment remains July 31. In effect, this means that taxpayers who submit their returns by the new deadline will have to pay two instalments in one month (those for July and August).
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Suspicious returns in tax authority’s focus
Freelancers and the self-employed are being targeted by the control mechanism, especially those who declare incomes up to 10,000 euros, while at the same time having expenses that are twice as much.
Those who in the previous year presented large discrepancies in their declarations (between income and expenses) will be checked as a matter of priority and the rest will follow.
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No profession fee with hirings
Thousands of businesses that increased their staff in 2022 will be exempt from the fee for practicing a profession (known as "telos epitidevmatos"), saving between 400 and 1,000 euros, depending on the form of the company and its location.
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Landmark long-term care legislation adopted
The government has adopted a bill on long-term care that determines the scope of long-term care services the state plans to provide, and introduces a new contribution to finance services that will be paid by employers and employees.
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Platform for income tax declarations has opened
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).
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Bulgaria: Revenue Growth of nearly 13%
The receipts in the National Revenue Agency as of March 17, 2023 are over BGN 6.4 billion, the NRA reports.
This is BGN 752 million or nearly 13% more compared to the same period last year.
By mid-March, revenues for the central budget exceeded BGN 3.7 billion, which is an increase of 9.8% compared to the first two and a half months of the previous year.
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Businesses unhappy with reversal of tax reform
Ljubljana – The Chamber of Commerce and Industry (GZS) is unhappy with the government’s plan to revoke parts of the tax reform adopted by the previous government, including a continued increase in the general tax relief for all earners. In a written response to the proposal, the GZS hails the government’s plan for a comprehensive tax reform to be be passed by 2024.
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