Income taxes

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). 

A 3% discount on the total amount of income tax will once again be available this year to taxpayers who pay it all at once by July 31, according to an amendment to the omnibus bill of the Ministry of Finance.

It is noted that the platform for submitting tax declarations is expected to open on March 30 this year, while the deadline for submitting income tax returns will be June 30.

Two weeks before the deadline for the submission of income tax declarations on June 30, some 4 million taxpayers have not yet uploaded their statements for last year's income, which makes a deadline extension increasingly likely.

The lower house of Bosnia's Federation entity parliament backed a law on hydrocarbon taxation on Wednesday evening, hoping to add 30 per cent to the current corporate income tax on oil that might be produced in future.

The income of all taxpayers (salaried workers, pensioners, farmers and self-employed professionals) is due for a boost as of January 1, when reduced tax rates come into effect.

A reduction in business tax from 28 to 24 percent for 2019 and incentives to link large investments to a reduction in taxable foreign income are some of several incentives for investments are some of the measures the government is seeking to introduce in a new draft bill that was presented for public consultation late on Thursday.

Nearly three-quarters of Romanian entrepreneurs argue that they are against reintroducing criminal liability for the non-payment of taxes and contributions, according to a survey conducted by The National Council for Small and Medium-sized Private Enterprises in Romania (CNIPMMR), released on Tuesday.

Greek workers, retirees and self-employed professionals will see a significant reduction in their tax bills in 2020, says a bill that reduces the lowest income taxes to 9 percent from 22 percent for income to 10,000 euros, Kathimerini reported.

The bill will also include provisions for construction and tax cuts on business profits.

More than 1 million taxpayers have not yet submitted their statements, less than 10 days before the expiry of the deadline, risking a fine for late submission.

Hundreds of thousands of self-employed professionals and one-person businesses are eager for new tax rates to kick in and ease some of the pressure they have been under over the past few years.