Past tax returns rapidly being cleared – tax dept

The Tax Department is proceeding rapidly with clearing tax returns from previous years and aims to have all the declarations cleared by the summer of 2023, the tax commissioner said on Wednesday.

According to data by the department, tax refunds of €12 million and tax arrears of €17m are due for returns of 2016, while approximately €23m in refunds and €89m in payable income tax are due from companies’ returns for the tax years 2015, 2016 and 2017.

It is expected in the coming months to clear 600,000 statements filed by individuals for the tax years 2017 and 2018, and 2019 as well as 160,000 statements filed by companies.

“The aim of the department is to have all the revenue statements of the previous tax years cleared, by the next deadline for submission of the Individual and company revenue statement,” the tax commissioner Sotiris Markides, told CNA.

He added that that within the coming months, hundreds of thousands of Ssatements will have been cleared and the results will be sent to tax payers by post.