Don't Get Caught Off Guard in Greece: February Tax Deadlines and Payment Information

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February presents a demanding month for taxpayers, requiring them to delve deep into their pockets to fulfil significant financial obligations. By month's end, taxpayers must handle various payments:

  • 2024 Road Tax: This payment commences in February.
  • ENFIA and Income Tax Final Installments: Both final installments for 2023 fall due this month.
  • Refundable Advance Installment: Payment for the refundable advance is required.
  • Instalments for Arrangements: Any arrangements require the corresponding instalments to be paid.
  • January VAT: Businesses maintaining double-entry books must settle their January VAT.

Significant Amounts Involved:

It's crucial to note that taxpayers will collectively contribute over €1 billion for just the final instalments of income tax, ENFIA, and road fees.

Additional February Deadlines:

  • Airbnb-Style Rentals: By month's end, those wishing to declare income from Airbnb-style rentals must finalize their declarations.
  • Separate Tax Returns: Spouses wanting to file separate tax returns for 2023 must submit an application by February 28th.

Detailed Breakdown of Obligations:

  • Personal Income Tax: €410 million in final instalments for 2023 personal income tax are due.
  • Corporate Income Tax: €285 million in final instalments for 2023 corporate income tax are due.
  • ENFIA: The final €250 million installment for 2023 ENFIA is due.
  • Traffic Fees: €1.206 billion in 2024 traffic fees become payable.
  • Refundable Down Payment: An instalment of the refundable down payment is required.
  • Settlement: Any existing instalment arrangements require payment of their instalments.
  • VAT: Businesses keeping double-entry books must settle their January VAT.

Digital Plate Registration:

February 29th serves as the deadline for digitally registering license plates. This empowers car owners to immobilize their vehicles remotely. Those choosing digital immobilization can retrieve their plates in March/April when monthly registration fees become due.

Benefits of Early Immobilization:

Taxpayers who opt to immobilize their vehicles until February's end but resume using them in April and maintain registration until year-end will only pay 9/12th of the annual amount, gaining a 25% discount on annual road fees. This allows driving for 11 months while only paying for 9 months of registration.

Separate Tax Returns for Spouses:

Married taxpayers can choose to file separate income tax returns for 2023 by notifying authorities by February 28th. However, opting for separate declarations eliminates the "family income" concept, meaning each spouse bears living and acquisition presumptions individually. Covering presumptions using the other spouse's income or transferring receipts becomes impossible if one spouse falls short. Remember, choosing separate declarations becomes irrevocable after February 28th.

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