Taxpayers who find errors or omissions in their submitted tax returns to AADE have more time to submit amendments. The deadlines for submitting initial and amended income tax returns are now extended as follows:

• August 2 for individuals
• August 9 for legal entities

Similarly, the deadline for the payment of the first installment is extended to August 2 for individuals and August 9 for legal entities.

Second Chance for Corrections

Taxpayers who have already filed returns and wish to make corrections to reduce their tax liability can do so without penalty if they submit an amended return within the new deadlines. The AADE platform allows for the submission of amended income tax returns, including forms E2 and E3 if required.

Correcting Mistakes

Legislation allows taxpayers to correct errors made in their original tax returns. Specifically:

• If a taxpayer discovers an error or omission in their submitted tax return (e.g., failing to fill in code 049-050 of E1 for electronic receipts), they can now submit an amended return. The taxpayer does not need to redo the entire declaration; they only need to correct the specific errors or add the missing information.
• If an amended tax return is submitted within the deadline for the initial return, it replaces the original return. The amended return is considered to have been submitted on time, and the resulting tax assessment from the amended return will replace the original assessment.

Submitting an amended return cancels the settlement of the original tax return, leading to a new settlement based on the updated data and determining the tax based on the final income or imputed data.

3% Discount for Lump-Sum Payments

Questions arise about the condition that taxpayers who pay their tax in one lump sum after July 31 lose the discount. Law 5100/2024 (Article 67), passed in April, states: “When the personal income tax of the 2023 tax year is paid in one lump sum by the final date of the first installment payment, a 3% discount is provided on the total tax amount and confirmed debts.” It also provides that if an extension for submission and payment is granted (until August 1 or 2 for those submitting on the last day of the extension), they will still receive the 3% discount for lump-sum payments. This condition remains unless changed by a new law.

Impact on Accountants

This situation also poses challenges for accountants managing pending statements. Those who submit returns by July 31 will receive the discount, but those who miss this by 1 or 2 days, despite the extension, will lose it. This is especially relevant for professionals like doctors, whose income data was pending due to clawback issues, potentially affecting many tax returns. Consequently, some taxpayers may be eligible for the discount, while others may not, depending on a small difference in submission dates.