It goes without saying that the changes will be partial, as the Prime Minister has also announced, as the “hard core” of presumptive taxation will remain the same and any changes are in the direction of greater tax justice.
The finalization of the changes should be done in the autumn, so that AADE can prepare its systems in time to receive, incorporating any changes, the tax declarations of 2025. In the Ministry of National Economy and Finance there is obvious satisfaction with the result of the liquidation of the tax declarations, as the tax revenues from the self-employed, due to the new method of presumptive taxation, appear increased by approximately 530 million euros from the amount that was foreseen.
Closing the curtain on personal tax returns opened the way for corrections to self-employed and self-employed imputed income. From the stage of the TIF, Prime Minister Kyriakos Mitsotakis is expected to mark the changes and improvements, so that possible injustices are remedied, as he has stated in the past.
What is being considered?
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:
- The criterion of turnover, on the basis of which the imputed income is increased.
- The criterion of payroll costs, which, especially in the cases of sole proprietorships employing staff with many years of employment, significantly increases the imputed income.
- The possibility of including family income.
- Improvements to the minimum presumptive income challenge process.
- “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 plan of the Ministry of Finance foresees the start of the period for submitting tax returns from March 1, 2025, with a “locked” schedule without extensions until June 30 each year.
What the liquidation figures show
Based on the latest figures available, 6,557,163 tax returns have been submitted this year, 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 on 2023 incomes that reaches 2,000 euros on average.
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