First deadlines for 2018 ‘tax tsunami’ in Greece begins this month

2 July 2018
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A “tax tsunami” agreed to in 2016 and unleashed in Greece last year – an integral part of the Tsipras government’s “road map” to meet creditors’ memorandum-mandated fiscal targets – will continue unabated in 2019.

Millions of taxpayers in Greece are now faced with up to six different types of direct taxes, i.e. for income generated in 2017, the property they owned in 2018 and for vehicles they plan to own and operate in 2019.

The deadline for filing annual tax statements is now the end of this month, with roughly 2.5 million households calculated as needing to fork over 1.1 billion euros in taxes, as entailed in the first installment for 2017 incomes. Another two tax installments will follow, valued at 2.2 billion euros – at the end of September and end of November 2018.

The end of this month is also the deadline for roughly 250,000 businesses and other legal entities to cover their first installment of corporate taxes and an annual fee imposed on self-employed professionals – regardless of income – from between 500 to 650 euros. Another five installments follow, lasting until December 2018.

September is the month when roughly 6.3 million taxpayers and legal entities in Greece will see their first installment of the now permanent property tax (ENFIA) for 2018 – paid in four installments.

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