Assets tax statements commence October 15

January 15 of 2017 is the deadline for taxpayers to submit their online property tax statements. They will have a 3-month period, commencing Friday, October 15 in which to submit their statements for the financial year of 2015. Among other things, taxpayers (public hospital doctors, lawyers, journalists, local government politicians, politicians police officers, judges, sports referees etc) will be compelled to declare whether they own any bank deposit box with over 15,000 Euros (per family), as well as other valuables (movable assets) over 30,000 Euros. The “movable asset” clause in the legislation targets jewelry, which generally refers to similar items. Citizens will be faced with penalties ranging from smaller fines to imprisonment, in the event they either miss the deadline or are caught making false statements.

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