POFEE: 2024 Tax Returns – The Whole Truth

press release

Tax Returns 2024 – The Whole Truth

The industry that “kept” the Greek economy alive in the worst global financial crisis during the COVID-19 period that our country also experienced, does not deserve such humiliating behavior and any recognition of our work should be practical in the first place.

At POFEE we believe that half the solution to a problem is understanding it.

For this reason, POOFE informs everyone concerned of all the aspects that constitute the problem of filing income returns for the year 2024, especially for business owners, so that everyone can assume their responsibilities.

This year, for the first time in history and contrary to every legal source, the Minister of National Economy and Finance has set a 3-month period for filing income declarations. Neither the law nor custom, as sources of law, have in the past set or indicated such a short period for filing. We remind you that in 2013, when the current Income Tax Law (ITC) was passed, the law provided for a 5-month filing period (02/01-06/01) which was abolished a few months after its promulgation. In recent years, the deadline for filing tax declarations has been between the end of August and the beginning of September.

The main reasons why such a short period of filing income returns reduces their exposure to any problem are essentially the following:

1.-The labyrinthine legislation governing the issuance of accounting and taxable results for businesses:

-35 articles containing 1715 circulars, decisions, guides and relevant interpretations in KFE, and

-11 articles containing 47 relevant decisions, documents and opinions of the Accounting Standards Board (SLOT) in the Greek Accounting Standards Code,

It is the minimum set of constantly changing legislation and case law that a tax accountant must take into account in order to correctly and appropriately fill out a business income statement.

2.-Additional processes and verifications of business transactions on the MyDATA platform, which resulted in a significant increase in the time required to complete a business income statement.

3.-The constant inability of all relevant bodies to keep the declaration submission system up to date and fully operational. Delays in issuing decisions, problems in settlements, and sending incorrect, incomplete and duplicate information by public bodies prolong the completion of declarations at the expense of the announced deadline.

4.-Inconsistent digital transformation. The lack of interoperability between e-government applications and the conversion of paper tax, labor and insurance documents to electronic papers has led to a significant increase in the time spent by accountants – tax technicians.

It is clear and proven over time that a properly completed corporate income tax return is the only shield that protects it from future tax audit penalties, while at the same time ensuring the public interest in the most correct manner. Therefore, filing this statement correctly precedes its timely filing.

Otherwise, hasty submission of such a declaration significantly increases the risk of its incorrect completion, which on the one hand leads to penalties for the company from future tax audit, and on the other hand sharply increases the risk of loss of public revenue.

Conversely, late submission, even if the declaration is completed correctly, puts the company face to face with a fine of 250.00 euros or 500.00 euros as the case may be and excludes it from participation in development programmes.

POFEE, as the only secondary trade union representative body of homosexuals in this sector, remains steadfast in the principle and role assigned by the legislator to the tax technician accountant, that is, the guardian of public revenues. It is therefore obliged to promote and support the scientific competence of the work of colleagues and to highlight any problem or distortion that may impede their work.

Highlighting such problems or possible distortions is an act of responsibility towards citizens and the state and not a trade union trick to protect our income as the leadership of the Ministry of Finance unfairly and incorrectly said. Moreover, the reality did not justify this opinion, since 70% of tax returns of individuals selected for automated clearing were submitted by a tax technician, while an additional 15% are expected to pass through our offices for automated correction, and therefore incorrect, clearing errors.

Finally,

For all the reasons mentioned above and because it has been historically proven that the deadline for submitting tax returns is delayed beyond the period specified by law and contract:

– Does not jeopardize public revenues,

– Does not jeopardize the country’s financial, domestic or international obligations,

– Giving our branch the time it needs to accomplish its mission,

We demand that the Ministry of Finance assume its responsibilities and abandon the friendly and extortionate waiting with the parallel threat of fines and immediately announce a reasonable date for submitting declarations for this year 09/30/2024 exclusively through accountants as we have already suggested.

POFEE Board of Directors

General Assembly of Presidents