News & Updates

Non-Taxable Individuals Exempt from Income Tax Declaration

The Council of Ministers have announced a new ministerial decree (No.288/2021), that individuals whose gross annual income is below €19,500 are exempt from submitting a personal income tax declaration for the tax year 2020.

As a reminder, in August 2020 the House of Representatives amended the Assessment and Collection of Taxes Law making it mandatory for all taxpayers to submit tax returns irrespective of their income level as from the tax year 2020.

Please bear in mind the article published by Fairfax on 21^st April 2021 informing our customers that the electronic submission of the 2020 personal income tax return for individuals with a gross annual income of more than €19,500 has been extended to 30 September 2021.

The expert team at Fairfax are available should you require any further information or clarifications on this or any other tax issues on accounts@fairfaxyeaman.com or by calling +357 25558025