Greece's Independent Authority for Public Revenue (AADE) has implemented new measures to address late tax filings, signaling a significant shift in how taxes are managed for individuals and businesses in the country.
Under these new regulations, Greek tax authorities can now issue income tax assessments automatically based on existing financial data immediately after the filing deadline passes. For example, if the deadline is July 15 and a taxpayer fails to submit their return, AADE will calculate the owed taxes using information already on record.
For self-employed individuals, assessments will draw from invoices, professional declarations, and records of assets such as real estate or vehicles. For salaried employees, calculations will be based on income reported by their employers.
While taxpayers can still file their returns after the deadline to replace these automatic assessments, they will face fines and interest penalties as dictated by Greek law.
This overhaul is intended to ensure prompt tax compliance, reduce administrative delays, and improve the efficiency of Greece's tax collection system.
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