A tax guide with 12 significant changes that occur this year in the calculation and payment of personal income taxes for the tax year 2020 presented by the newspaper Eleftheros Typos.
The platform for submitting his income tax returns 2020 is expected to be operational within the next week. In total 8,9 million. taxpayers are expected to file their previous year's income tax returns electronically. This year, however, things are expected to be completely different in terms of the results of the clearance of tax returns.
This is because with laws that were passed over the years 2019 and 2020 There have been significant changes in the tax calculation parameters, such as the reduction of tax rates, the non-application of the living presumptions and the measure of the e-receipts, as well as the temporary abolition of the solidarity contribution for his income 2020 not derived from salaries or pensions. Recently, the reduction of the income tax advance by 100% in the 55%.
Given the significant reduction in the taxable income of most individuals, due to restrictive measures implemented from March to December of the previous year, for the treatment of coronavirus, taxpayers this year, in their vast majority, they will either not pay any tax or will be eligible for tax refunds or will be required to pay tax amounts significantly reduced compared to those they were asked to pay last year.
During the process of clearing the income tax returns that will be submitted this year by individuals to declare the income of the year 2020, will apply in total 12 significant changes in the rules for calculating and paying taxes. These changes are as follows:
1. Reductions in tax rates on wage income, pensions, business and agricultural activities.
The following changes occur in the tax clearance scale for these incomes:
* Quote reduction (minimum) tax rate from 22% in the 9% for the first 10.000 euros of annual income.
* Reduction of the rate from 29% in the 28% for income from 20.000,01 until 30.000 euro,.
* Reduction of the rate from 37% in the 36%. for income 30.000,01 to 40.000 euro,
* Reduction of the rate from 45% in the 44% for incomes above 40.000 euro
2 .Increase of tax-free limits.
For those employees, retirees and professional farmers are dependent on dependent children, the tax-free income limit is increased:
* from 8.863,63 euros in 9.000 euros for those burdened with a dependent child,
* from 9.090,90 euros in 10.000 euros for those with two dependent children,
* from 9.545,45 euros in 11.000 euros for those with three dependent children,
* from 9.545,45 euros in 12.000 euros for those with four dependent children.
3. Temporary abolition of the solidarity contribution for his income 2020 not derived from salaries and pensions.
To the taxpayers who acquired the 2020 incomes above 12.000 Euros from salaries or pensions will be imposed this year as well, when clearing tax returns, special solidarity contribution calculated in stages as follows:
* 2,2% in the annual income segment from 12.001 until 20.000 euro,
* 5% in the annual income segment from 20.001 as 30.000 euro,
* 6,5% in the annual income segment from 30.001 as 40.000 euro,
* 7,5% in the annual income segment from 40.001 even 65.000 euro,
* 9% in the annual income segment from 65.001 even 220.000 euros and
* 10% in the annual income segment above 220.000 euro.
His income 2020 from all other sources, that is, from business and agricultural activities, from real estate, from dividends, from interest, from goodwill of shares and other financial products, etc., will not be charged this year with a special solidarity contribution.
4. The following categories of taxpayers will be completely exempt from subsistence presumptions:
* Those who carry out individual commercial and craft enterprises, sole proprietorships and self-employed and during 2020 were either forced to suspend operations or are simply considered to be "affected" by the pandemic.
* The employees in the companies and the freelancers of the above cases, provided that their employment contracts were suspended for any period during 2020.
* Employees who joined the COOPERATION program, regardless of the time period.
* Seafarers whose contract has been suspended for any period within 2020.
* Landlords who have been forced to collect rents reduced by 40% even for one of the months March to August 2020 or November-December 2020, as well as those who were forced to collect rents reduced at least by 30% even in one of the months of September and October 2020. It is a condition that at least one COVID declaration submitted by 2020 via TAXISnet.
The 5 above categories of taxpayers will be taxed this year solely on the basis of the actual income earned by the 2020, even if the presumptions of living determine their taxable income at a higher level, provided the following are met 3 conditions:
* provided at least in one of the previous two years, the 2019 and 2020, were not taxed on the basis of living presumptions,
* as long as there was no increase in subsistence allowance in the tax year 2020 compared to 2019,
* if any costs for the acquisition of assets made by 2020 (for real estate purchases, cars, shares etc.) do not exceed or exceed their actual income, but the extra difference is justified
For any taxpayer who does not meet the above conditions in this year's income tax return, to submit for the tax year 2020, living presumptions will determine his taxable income at a level higher than the actual declared, the smallest amount of presumption of subsistence between tax years will be taken into account as imputed income 2018, 2019 and 2020, but if between the tax years 2019 and 2020 there was no increase in the total amount of subsistence presumptions.
5. In addition, those belonging to the above 5 categories of victims, as well as those who closed up to 31-12-2019 the 60th year of their age, if they have not managed to cover a percentage 30% of his individual annual income 2020 with expenses paid through electronic payment methods, will not be charged at all with additional income tax on the uncovered amount.
6. For those taxpayers who do not fall under the above additional exceptions, but during 2020 reimbursed by electronic means of payment costs corresponding to a percentage between 20% and 30% his individual annual income 2020, the additional income tax with which they will be charged due to non-coverage 30% will be calculated on the amount that remained uncovered, with a factor reduced by 50%, that is, with 11% instead of me 22%.
7. In addition, for all taxpayers subject to the obligation to have paid by electronic means of payment expenses totaling 30% of its annual real income 2020, the extraordinary income earned by 2020 will not be included in this annual income.
8. The income tax advance over the next year will be calculated this year for taxpayers with income from business and agricultural activities at a rate reduced by 100% in the 55% of the main income tax.
9. To the owners of rented properties who did not receive rents from their tenants in 2020, the income tax exemption for these uncollected amounts will be granted only on the condition of notifying out-of-court employees to the tenants. Notification of the out-of-court settlement must be made no later than 27 August 2021.
10. Those who submit their statements by 28 July will be able to pay income tax and other charges that will arise in 8 monthly installments. The first installment must be paid by 30 July and each of the following 7 installments until the end of August, September, October, November, December 2021, January and February 2022.
11. Alternatively, these taxpayers will be able to repay the amounts of taxes and other charges in a lump sum, with discount 3%, until 30 July.
12 .For those taxpayers who fail to file income tax returns by 28 July, no late submission penalty will apply. And these taxpayers will be considered on time, provided they submit their statements by 27 August. These taxpayers will however be required to pay by 30 Αυγούστου μαζεμένες τις δύο πρώτες δόσεις των φόρων που θα έχουν προκύψει από την εκκαθάριση των δηλώσεών τους.