Tax withholding

AADE (Independent Authority for Public Revenue) has launched a series of cross-checks to detect the movement of funds that are not justified by the declared income on tax returns. These checks focus on deposits and transfers to and from abroad, as well as income earned from third countries by Greek tax residents.

The percentage of taxpayers who have filed their tax returns reached 97% by yesterday, with the new deadline set for August 2.

In total, some 6,235,000 taxpayers have already filed tax returns.

The August 2 deadline also applies to those who wish to correct their return by filing an amendment.

The retirement process for debtors with arrears of 20,000 to 30,000 euros is stuck in the probing of deposits, as based on estimates, it will take around two months before the Single Social Security Entity (EFKA) and the banks are in a position to check the average bank deposits of the year, before the submission of the retirement application.

This year, the tax authorities have sent out 7,159,164 ENFIA payment notices

The Finance Ministry, in collaboration with the Independent Public Revenue Authority (AADE), is planning for the reduction of the withholding rate for those who have debts to the state and collect money or proceed with the sale of real estate. The reduced withholding will only concern those who are consistent with debt arrangements and pay their installments regularly.

Workers in Austria are guaranteed a 30% increase in their net salary as soon as they have a second child, as deductions for taxes and social security are reduced. The Germans have the same treatment. The Belgians are even more fortunate, with an increase of 32%, the French are limited to 24% and the Czechs to 21%.

The tax administration intends to reward debtors who are consistent with the payment of dues to the state, and to establish new criteria and simpler procedures for granting evidence of tax awareness and debt certificates.

In the wake of the high-profile arrest of Turkish influencer Dilan Polat and her husband on charges of money laundering and tax evasion, the Treasury and Finance Ministry has established a team to investigate social media figures.

The move comes as authorities intensify efforts to combat financial crimes within the influencer community.