Steps to avoid extra tax

Steps to avoid extra tax

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Paper, pencil and a small computer should be taken taxpayers so as not to fall into the trap of assumptions.

Last year, 1,540,255 taxpayers were caught and, while they declared a total income of €2.96 billion, they were charged with an additional imputed income of €4.39 billion, resulting in them being taxed on an income of €7.35 billion.

Most of them (947,676 TINs or 62%), working and retired, followed by income (319,734 TINs), traders (195,843 TINs) and farmers (77,002 TINs).

The evidence

the faced by taxpayers with the nightmare of assumptions and want to avoid paying additional taxes they can invoke income, loans received, lump sum, payments to avoid assumptions.

In particular:

1. Actual income earned in 2024 by taxpayers. Such income is considered severance pay, unemployment benefits, interest on bank deposits, etc.

2. The income received by the taxpayers in the previous year from the sale of their properties. As income from the sale of assets, the amounts received by the taxpayer from the sale of real estate, cars, movable goods of high value, etc.

3. Amounts of money they import into Greece, either in euros or in foreign currency if their claim abroad is justified.

4. Amounts received in 2024 from a parent’s donation or benefit.

5. Amounts of money not considered as income according to the provisions implemented and obtained during 2024 by the taxpayers. In particular, they can use the lump sum that taxpayers receive as retirees, or the payment they receive from their insurance company, etc.

6. Loans received by taxpayers during 2024 from banks, relatives or third parties. The termination of a loan is confirmed by a notarial or private document that is stamped and has a specific date of termination of the loan.

7. Winnings from lotteries, PPO-PO, LOTTO, TZOKEP, Fixed Bet, etc. OPAP games of chance.

8. Income of previous financial years. This is the “consumption of capital in previous years” where it can cover any additional difference in taxable income that arises due to the application of assumptions, citing income and profits declared either 10, 20 or more years ago, if they existed.

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