5. Tax payment process

Taxes must be paid on time and correctly. This section outlines available payment methods, deadlines, and the consequences of late payments.

Payment Methods

• Online via myAADE: Using Taxisnet login credentials.

  • Bank payments: Through e-banking or in-person transactions.

  •

  Credit card payments: Option for installment payments.

Deadlines & Due dates

• Income tax: Typically due by July each year.

  • VAT: Paid monthly or quarterly.

  • ENFIA (Property Tax): Installments from September to February.

Consequences of late payment

• Surcharges & Interest: Applied automatically to overdue payments.

  • Fines: Additional penalties based on the amount and duration of delay.

  • Bank account freezes & Asset seizures: Tax authorities can freeze accounts or seize property for significant debts.

  • Loss of installment plans: If enrolled in a payment plan, missing an installment may result in cancellation.

  • Restrictions on tax privileges: Such as being unable to obtain a tax clearance certificate for official transactions.

6. Tax returns & Common mistakes

Filing a tax return may seem straightforward, but small mistakes can lead to penalties or audits. Here’s what to keep in mind when submitting your tax declaration.

When & How to File Your Tax Return

• Tax declarations are submitted electronically through Taxisnet using your login credentials.

Required Documents

• Income statements: Pay slips, pension statements.

• Expense receipts: For medical expenses, donations, or tax-deductible expenses.

• Rental agreements: If earning rental income, tenant details and lease contracts must be submitted.

• Bank interest statements: For earnings from bank deposits.

• Documents for additional ncome: Including dividends, royalties, or foreign income.

Common mistakes to avoid

• Failing to report income or deductions that affect tax liability.

  • Incorrect calculations and inaccurate data entry.

  • Missing deadlines, leading to penalties.

Tip: Keep tax records for at least five years, as they may be required for an audit.

7. Tax deductions & Exemptions

There are various tax deductions and exemptions* available to individuals and businesses. Learn how to leverage these benefits to reduce your overall tax burden.

For individuals

• Up to 10% tax deduction for health, education, and rent expenses.

• Up to 40% tax reduction for energy-efficient home renovations under programs like “Exoikonomo” (energy-saving scheme).

• Up to 50% ENFIA reduction for large families, people with disabilities, and single-parent households.

For Businesses

• Up to 315% tax deduction for research & development (R&D) expenses.

• Up to 50% tax reduction for investments in startups (angel investors).

• Up to 50% income tax exemption for mergers & partnerships (for three years).

How to maximize deductions

• Keep all supporting documentation organized.

  • Consult an accountant for the best tax-saving strategies.

*This information is based on available data as of February 2025 and may be subject to change. For the most up-to-date and accurate details, please consult the relevant authorities or professional advisors.

8. Managing tax issues: Late payments & Filing errors

If you experience issues with late payments or errors in tax declarations, there are steps you can take to resolve them.

• Debt settlement plans: Apply for an installment plan through myAADE (e.g., 12 or 24 payments).

• Requesting an extension: In exceptional cases, you may apply for a payment extension from the Tax Office.

• Correcting errors: Submit a corrected tax return via TaxisNet to fix mistakes without penalties if done before the final assessment.

• Appeals & Disputes: If you disagree with a fine or surcharge, you can file an appeal with the tax authorities or escalate the case to the Dispute Resolution Directorate for review.

Where to get help

• Tax office (DOY): For official updates and processing tax matters.
• Accountant or tax consultant: For personalized guidance and tax planning.