The Public Revenue Authority (PRA) has released Circular POL 1114 on 22nd July 2016 to provide clarification regarding the filing of an amending tax return following the expiry of the statute of limitation period. The Circular says that Opinion No. 14/2016 of the Legal Council of State was approved by the General Secretary of the Public Revenue Authority. On the basis of this Opinion, the PRA notes in the Circular that an amending tax return can be either a “supplementary” tax return or the “recalling” of a tax return. Here, a supplementary tax return comes from an increase in the taxpayer’s tax liability and a recalling of a tax return results from a decrease in the taxpayer’s tax liability. A supplementary tax return is obligatory and a recalling tax return is optional for the taxpayers. Taxpayers should note that the filing of a recalling tax return will be possible until the announcement of the launch of an audit procedure or until the expiry of the statute of limitation period, during which period the tax authorities can impose taxes/fines. The Circular also says that the filing of the first category amending tax return is lawfully accepted by the tax authorities regardless of whether it is filed before or after the expiry of the statute of limitation period.
«
WTO backs Argentina’s anti-avoidance tax measures
Related Posts
Greece consults tax exemptions for non-EU intra-group dividends, capital gains
The Greek Ministry of Finance (MoF) has initiated a public consultation regarding the introduction of a participation exemption for intra-group dividends and capital gains derived from non-EU entities. This proposed measure aims to enhance the
Read MoreGreece unveils tax reform plans for 2025
Greece's Ministry of National Economy and Finance has announced new legislation for tax reform measures for 2025. The bill, entitled "Measures to enhance income, tax incentives for innovation and business transformations and other provisions",
Read MoreJapan, Greece tax treaty enters into force
Japan's Ministry of Finance has confirmed that the income tax treaty with Greece will take effect on 5 December 2024. The exchange of diplomatic notes between Japan and Greece for the entry into force of the “Convention between Japan and the
Read MoreGreece introduces new VAT code to enhance clarity
The government has implemented VAT Code A 162/2024, published in the Official Gazette on 11 October 2024, to ensure clarity and uniformity in provisions without introducing any significant changes. This comprehensive update simplifies VAT
Read MoreGreece releases solidarity contribution details for energy, mining sectors
The Greek Public Revenue Authority (AADE) has published an outline of the form and content of the temporary solidarity contribution declaration on 18 September 2024. Greece introduced temporary solidarity contribution targeting companies in the
Read MoreGreece announces initiatives to boost startup investments and mergers
The Greek government has announced changes to its Golden Visa programme in an attempt to boost the startup ecosystem and provide new investment opportunities. A residence permit (similar to the Golden Visa) will be awarded to non-resident
Read More