For income tax returns submitted from 01.01.2014 and onwards it is foreseen, that within ninety (90) days from the date the written application has been submitted, the beneficiaries will receive the amount which remains to be returned, after all eventual offsetting with their certified debts to the tax Authority has been completed.

The application should indicate the IBAN number of the beneficiary’s bank account and include any written declaration of offsetting of the repayable amount with future debts.

That application together with a print-out of the relevant income tax return form, from the online application of TAXISNET, showing the reimbursement, has to be submitted in hand-written form at the protocol office of the tax authority, at which the income tax return has been submitted, and should be explicitly designated as application for reimbursement of income tax.

In case the IBAN number is not indicated on the reimbursement application or further supporting documents are necessary for the reimbursement or further actions are necessary according to the legislation, after the calculation of the relevant tax reduction paper, a note is sent to the beneficiary without any delay. Otherwise, the refundable amount is transferred to the beneficiary’s bank account immediately.

Please note that in case of a hand-written submission of income tax returns with a receivable amount balance, the performance or non-performance of a tax audit concerning the tax refund will be judged case by case by the Head of the competent tax office.

From the above it is obvious that, from 01.01.2014 and onwards a reimbursement application is necessary in order for an income tax refund to take place. 

NOTE: This article does not cover advisory, but only informational purposes, and cannot serve, as a basis for further actions, on the part of   the reader. Reception of specialized advice is required.

Our company does not hold any responsibility for any actions, taken by the readers, based on the present article.