Only a few days remain to complete the year, with December 31st being the deadline for thousands of taxpayers to pay their debts to tax authorities, social security funds, and others, with the risk of additional tax penalties “lurking”.
Specifically, taxpayers must hurry to avoid additional taxes or extra fees, surcharges, and penalties for amended returns, payments, or debt arrangements. Every year, enormous amounts are imposed due to unnecessary omissions or mistakes.
Amended tax returns are filed for a series of different cases, such as: collection of retroactive payments of any form, covering living standards presumptions, regularizing gifts and parental contributions, settling taxation for deceased persons and foreign residents, collecting receipts to avoid paying additional tax.
In detail:
- Avoid the extra 22% tax. If taxpayers don’t accumulate electronic expenses equal to at least 30% of their individual income for 2025, they will face an additional 22% tax on the shortfall amount. Be careful, as only expenses made with debit and credit cards, prepaid cards, transactions through e-banking, and electronic wallets (e-wallet, PayPal, etc.) are considered.
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