5.3.13
The Deputy Minister of Finances G. Mavraganis has requested that tax offices help out tax payers who have sent money overseas between 2009 and 2011 and ask for time to collect the necessary paperwork.
In response to the overwhelming requests for extensions, Mr. Mavraganis has ordered that the GSIS computer system handling additional and amending tax declarations remain active until the 20th of March. This affects taxpayers who have been requested to submit the necessary paperwork to justify the sums they sent overseas.
Specifically, in cases where tax-payers request further time to collect and submit the relevant paperwork, due to delays from third parties (i.e. banks), the heads of tax offices are requested to individually examine each case and grant the necessary extension, should it be necessary.
The delay is partly due to many tax payers facing difficulty collecting the necessary paperwork (such as in the case of dividends certificates), but also due to tax offices not having access to older files, as a result of recent mergers and moves.
It is reminded that money which has not been justifying will be taxed with a 45% rate.
