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The surprises in “swollen” tax returns. The seven changes will now be seen in taxation as a result of the memorandum.

The surprises in _swollen_ tax returns

Taxis net is available for the submission of tax declarations, so both accountants and taxpayers, if they want, can enter the system and file their tax declarations, which are estimated to be about 6 million euros (?) of tax-payers.

Within the first half hour, 30 tax declarations had already been submitted and 300 were pending.

As announced by the Deputy Minister of Finance to the accountants, TAXIS net will be available for 3 months. Those who are going to submit their tax declaration will have to pay the tax in 3 two- month installments.

However changes in taxation which passed in the final memorandum will be seen in the particularly tax returns
• First of all, thousands of freelancers are going to be unpleasantly surprised. With the filing of tax declarations to be submitted by freelancers, they will have to pay an additional increased tax-payment. Specifically, the income tax advance has increased for the income of 2015 from 55% to 75%. So the statement is overloaded …applying the commitments of the memorandum from 2016, the tax advance of freelancers is increasing to 75%, whereas in 2017 they will have to pay a tax advance equal to 100% of the outstanding amount.
• Regarding farmers, they are going to pay in 2016 the income tax advance with the settlement of tax declarations, which has increased from 55% to 75%.

Code 049 of the declaration remains inactive, because employees and pensioners are not obliged to collect any sales receipts.

• Rent, which the landlord failed to collect from the tenant during 2015, can be declared this year in a separate field and in both E2 and E1 forms. Specifically, in form E2 the uncollected rents should be entered in column 16 of the first page, and in form E1 it must be entered in codes 125-126 in the Table 4D2, 3rd page.

These amounts, in order to be declared and not taxed, a payment order will have to be issued at the expense of the tenant or a performance order based on Salary or a judgment expulsion order or adjudication leases or treatment eviction has been instituted against the lessee or adjudication rents), until the deadline for submission of the declaration.

• It is clarified that from 2016 (regarding the income of 2015), the 2% discount on the tax in the case of one-off payment will not be applied.

• The Natural persons who in 2015 earned an income of over 30,000 euros with the settlement of their tax declaration will have to pay extra taxes because of the retroactive increase of the special solidarity levy applied from January 1, 2015.

• The special solidarity levy rates for annual incomes over € 30,000 euros have increased: 2% from 1.4% for income from 30001-50000. 6% from 2.8% for income from 50,000 to 100,000, the same will apply on income up to 500,000 euros. 8% from 2.8% for incomes over 500,000.

With the increase of special solidarity levy:

An employee with an annual income of EUR 31,000 will incur an extra tax of EUR 186 per year or € 13 per month. A taxpayer with an annual income of 40,000 euros will be charged an additional tax of EUR 240 annually or EUR 17 per month.

The business Profits of 2015 will be taxed next year with new higher rate which is 29% from 26%. General partnerships and limited partnerships will pay and an increased income tax advance after the rate rose from 55% to 75%.

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