Over the last weeks, thousands of taxpayers found that their e-banking direct purchases and payments to professional and businesses do not appear in their bank transactions or on their personal TAXISNET online tax bureau account , meaning that they cannot accrue the number of receipts necessary to build up their non-taxable ceiling.
That means they are liable to pay a 22 percent tax penalty when they submit their tax return for the 2017 fiscal year.
To remedy the situation, a ministerial decision will be issued, setting a deadline for professionals and businesses to declare the IBANs of their business bank accounts.
Once that is done, the finance ministry will inform all banks regarding all the IBANs of professional and business accounts.
Then, banks will cross check all electronic payments and the local tax bureaus will automatically receive the data needed to determine the taxpayers’ tax-free amount.
The data will include all transactions with businesses and professional from 1 January, 2017, until now.