Income tax in Australia

First introduction for the income tax returns to be issued without taxpayers having filed their tax returns!

As the clock ticks down to midnight tonight, Bulgarians are reminded that April 30th marks the final day for filing their 2023 personal income tax returns. For those utilizing electronic services, the deadline is midnight, while those opting for paper submissions at revenue agency offices must do so by 5:30 pm.

With two weeks to go before the final extended deadline to submit income tax forms - noon on Thursday, August 31 - 5,945,364 of the about 6.5 million taxpayers, or slightly over 9 out of 10 (91.5%) have submitted their declarations so far, the Independent Public Revenue Authority (AADE) says. 

Greece has extremely few rich people - if the official declarations of income and property are anything to go by.

The numbers from the tax declarations highlight several Greek "peculiarities": On paper, Greece has hardly got any rich individuals. Only 27,000 taxpayers declare an individual income of more than 100,000 euros, while four out of 10 appear to live on €5,000 a year.

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 government is attempting to support young freelancers in their first professional steps through a favorable tax framework.

In this context, new self-employed people will be taxed on their 2022 income at a rate of 4.5% - i.e. at a rate that is 50% lower than that which applies to the first tax bracket.

The maintenance of the tax-free threshold at its current level beyond 2020 will create a fiscal hole of 466 million euros despite the abolition of the countermeasures that had been scheduled for next year, while the European Commission is accusing the government of constantly overestimating its investments without implementing them.

The government will table an amendment just before Parliament is dissolved that will scrap not only the reduction of the tax-free threshold planned from January 2020, but also the measures aimed at easing the pressure on the middle classes (known as countermeasures).

Property owners will only find out about their Single Property Tax (ENFIA) dues this year after the celebrations for the end of the bailout program in August - and probably after the Thessaloniki International Fair in September 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.