Greeks are paying income tax. Here's how they have fared

Tax administration department of Greece has published the tax filing details of the country's population for the current financial year. The Independent Authority for Public Revenue (IAPR) has revealed that 93 per cent of the aggregate income tax returns have been filed till August 18 this year.

The Authority also stated that two-thirds of the assessed taxpayers, i.e., 65.37 per cent do not have any outstanding tax liability. The tax they have already paid through their payrolls and other deductions is sufficient to cover their overall tax liability.

There are those taxpayers, too, who are eligible for a rebate. This means that they have paid excess taxes compared to what they owe.


As such, the Independent Authority for Public Revenue would issue a refund of the excess tax paid. According to the IAPR, a fifth of the assessed taxpayers, which accounts for 13.47 per cent, are eligible for a rebate. The rebate amount aggregates to €333 million, which, in turn, means a rebate of €417 for each assessed taxpayer.

Besides those eligible for rebates and those with no additional tax liability, 34.63 per cent of the assessed taxpayers have an outstanding tax liability payable to the Independent Authority for Public Revenue.

The aggregate outstanding liability is €2.58 billion, which converts to €1254 per taxpayer. These taxpayers have the option to pay their outstanding tax liability in eight easy installments. However, if they pay their taxes in one lump sum, they can avail of a discount of 3 per cent on their outstanding tax liability.

This year, the Ministry of Finance extended the tax filing deadline twice. This was meant to provide additional time for taxpayers to file their returns. However, the Ministry of Finance has stated that there will be no more extended deadlines. Taxpayers would have to file their returns by August 30.

Besides the taxpayers who have already filed their taxes, around 470,000 taxpayers are yet to file their returns. They have 11 days to submit their returns and avoid possible penalties. If the return filing is delayed, such taxpayers might face penalties, fines, and other legal complications.