BEWARE OF POSSIBLE FINE WHEN SUBMITTING YOUR TAX RETURN

 Filenews 6 October 2020 - Eleftherias Paizanos

Hundreds of taxpayers may have completed their tax returns on time in previous years, but they eventually paid a penalty of €100! This is because they may have completed their tax returns without delay, but chose "temporary custody" instead of sending the return. This resulted in hundreds of taxpayers forgetting to submit their tax returns definitively and being fined for late filing the return. By submitting the tax return electronicly, taxpayers have the right either to proceed with the final submission or to the temporary storage of their tax return, in order to re-edit it at a later time. With the final submission of the tax return no changes can be made by the taxpayer.

Assistant Tax Commissioner Sotiris Makridis, speaking to "F", called on taxpayers not to put their declarations in temporary custody for a long time and to submit them as soon as possible. As he said, in previous years it was found that many taxpayers, even though they filled out their tax returns on time, left them in temporary custody, so that some forget to submit them definitively and had to pay a fine.

The Assistant Tax Commissioner welcomed the response of taxpayers, inviting everyone to submit their tax returns within the time limit, i.e. by the end of October.

The submission of income declarations for the fiscal year 2019 began on 21 September, with many months of delay, due to the covid pandemic and the improvement and upgrading of the system of the Department of Taxation. The submission of tax returns will be completed on Friday the 30th of the month, but an extension of some weeks is expected. For the fiscal year 2019, it is estimated that 270 thousand euros will be submitted. tax returns. In fiscal year 2018, a total of EUR 290 million had been submitted. income declarations of an employee and self-employed person.

Meanwhile, today, from 8.30am to 12.30am, there will be a temporary shutdown of computer systems due to their upgrade. At these times it will not be possible to serve taxpayers on a cyprus basis, for services supported by the computer systems of the Department (Direct Taxation and VAT, TAXISnet and Tax Portal).