As the Ministry of National Economy and Finance has committed and as the Prime Minister, Kyriakos Mitsotakis, has announced, immediately after the completion of the submission of the tax returns, the relevant procedure will begin. According to the available information, the matter will be concluded before the end of the year.
This is done so that AADE can prepare its systems in time to welcome, incorporating any changes, the tax returns of 2025. In the Ministry of Finance there is obvious satisfaction with the result of the clearing of tax returns, as the tax revenues from the self-employed, due to the new method of presumptive taxation, they appear increased to the amount that was foreseen.
The scenarios for the changes
Closing the curtain on personal tax returns opened the way for corrections to self-employed and self-employed imputed income. Already, the first scenarios have seen the light of day, although from the Ministry of National Economy and Finance there is no official, nor unofficial position.
There is a possibility that from the TIF stage, Prime Minister Kyriakos Mitsotakis will give the stamp of changes and improvements, so that possible injustices are remedied, as he has stated in the past.
Based on the existing scenarios, the basic core of the presumptive system for calculating the minimum taxable income for 735,000 self-employed and freelancers is not going to change. Possible interventions – changes will concern:
1. The turnover criterion, based on which the presumptive income is increased.
2. The payroll cost criterion, which, especially in the cases of sole proprietorships employing staff with many years of employment, significantly increases the imputed income.
3. The possibility of including family income.
4. Improvements to the minimum presumptive income challenge process.
5. “Haircut” of the burden that will be caused due to the adjustment of the minimum wage, which is the basis for calculating the minimum presumptive income. It should be noted that the increase in the minimum wage from 780 to 830 euros raises the minimum presumptive taxable income from 10,920 euros in 2023 to 11,620 euros in 2024.
As the Deputy Minister of Finance, Christos Dimas, has recently stated, the changes will be legislated before the end of the year so that there will be sufficient time for AADE to adapt its systems to the new data, for the submission of next year’s tax returns. The Finance Ministry’s plan foresees the start of the tax return submission period from March 1, 2025, with a “locked-in” schedule with no extensions until June 30 each year.
What the liquidation figures show
This year, based on the latest figures available, 6,557,163 tax returns have been submitted, with the additional tax they are asked to pay amounting to €4.6 billion, up from €3.8 billion last year. From the liquidation of the returns that have been submitted, it appears that 35% of the returns are in debt, with taxpayers paying additional tax for the incomes of 2023, which reaches 2,000 euros on average.
Last year, 47% of freelancers paid up to €1,000 in tax and 27% between €1,000 and €3,000. This year, according to the calculations of the Ministry of National Economy and Finance, 17% will pay up to 1,000 euros, while 54% will pay between 1,000 and 3,000 euros.
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