Filing of tax returns! OPEX is the solution!

   May 17, 2021

The filing of this year's tax returns regarding income earned in 2019 has started.

The deadline for the filing is June 30th.The following are obliged to file the 2020 tax return:
  • All natural entities who have their residence in Greece, have completed the 18th year of age, regardless of whether they are a dependent member or not and regardless of whether they earn real or imputed income.
  • Taxpayers who have commenced a sole proprietorship are required under any circumstances to file an income tax return.
  • Residents abroad are required to file a tax return only when they obtain real income from Greek sources that is taxable in any way (e.g. Based on a tax bracket or independently) or deductible.
  • The parent or party to parental responsibility agreement for the income of minor children
  • The trustee or the temporary administrator or the bankruptcy administrator or the sequestrator or the liquidator for cases of escheat or litigation or bankruptcy or guarantee, or the liquidator of inheritance, respectively.
  • The guardian or the judicial supporter, in the cases, respectively, of minors or those who are placed under guardianship.
  • Heirs of the taxpayer for the taxpayer's total income up to the day of the taxpayer's death.
The annual income tax returns for the tax year 2019, of the taxpayers of paragraph 1 of article 67 of Law 4172/2013, are submitted obligatorily electronically. Overdue initial and amending income tax returns for the tax year 2019, as well as overdue initial and amending returns for the tax year 2015 onwards should be submitted electronically. The above applies to tax returns submitted either by the taxpayers themselves with their own passwords or by a certified tax accountant - accounting office with the taxpayer's personal passwords.In case there is no possibility of electronic submission due to a proven technical issue that cannot be resolved or if judged by the competent Head of the Tax Office. in exceptional cases, when there is an objective and real impossibility of submitting the declaration electronically, taxpayers are allowed to submit them in handwritten form to the competent Tax Authorities. This also applies in cases where the deadline for submission of the application expires at the end of the year, if there is an inability to submit electronically.There has been a change in the procedure regarding the tax return in this year's E1. Specifically, table 10 has been abolished, in which taxpayers were required to declare the IBAN of their bank account, in order to be credited any tax refund. A message will now appear informing about the obligation to notify IBAN, by submitting an electronic Application / Solemn Declaration of the beneficiary on the website of the Independent Public Revenue Authority. Also: The amounts of tuition fees paid in 2019 by taxpayers in private schools will be posted this year on an information board that will be displayed by the Tax Administration during the electronic completion of the relevant code 769 of table 5. The new codes 039-040 for taxpayers who have transferred their tax residence in Greece and have been subject to the alternative taxation regime for income they acquired abroad were added to table 2 on the first page of the E1 form.The cash benefits provided by OPEKA to persons with disabilities and which are intended to cover their disability needs do not fall into any income category. In addition, the no income category includes welfare benefits, financial and income support and social services for financial support, support for special and vulnerable groups, such as the Housing Assistance Allowance paid to uninsured seniors, Family Income Support for Families who reside in Mountainous Less-Favourable Areas, the Large Families Travel card, etc., as well as the housing allowance.Thus, these amounts are exempted this year not only from the income tax but also from the special solidarity contribution. In fact, since these are no longer considered income, they cease to be added to the total income of disabled taxpayers and other beneficiaries, and thus many of these taxpayers due to a sharp reduction in their annual family taxable income meet the income eligibility criteria to be exempt from paying the ENFIA fee and to collect the various other social benefits such as child allowances, housing allowance, etc. These amounts must be indicated by the taxpayers in codes 781-782 of table 6 of form E1. Large families (with 4 or more dependent children) are exempt from the luxury living tax for 6-seater cars with an engine capacity of over 1928 ccm.Specifically, exempt from the imposition of the luxury living tax are private passenger cars of large families (i.e. Families with at least four (4) dependent children). The exemption will be granted to private cars of six or more seats and based on the data of dependent children listed in Table 8.1. of the form E1.Taxpayers who are entitled to tax refunds should receive them as soon as possible by submitting their declarations. While for taxpayers who will have to pay additional taxes, the deadlines for submitting tax returns and paying taxes will be extended for a long time and installments will be increased.We stay at home and allow OPEX to file our tax returns electronically!