A few days ago the Supreme Administrative Court issued decision no. 1738/2017, ruling that, under certain circumstances, extensions of the time period set out in statutes of limitations (SoLs), concerning the right of the Greek State to access taxes are in violation of the Greek Constitution. Taxand Greece examines the decision.

 

Greek law tax provides for different SoLs, depending on the case and on the year of reference. For fiscal years up to 2013 at the standard SoL sets out a five-year period for the assessment of income taxes, starting from the end of the year within which the respective tax return has been filed. This period is extended to ten or fifteen years, if, among others, supplementary information comes to the attention of the tax authorities, that was not available at the time of the initial audit, or no tax return has been filed by the taxpayer.

 

Discover more: Statute of limitations for tax assessments

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Taxand's Take

It is of great interest to see, how the Greek Ministry of Finance will react to the above decision and whether guidelines will be released towards the tax authorities as to which fiscal years should be considered as time barred.

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Greece | International Tax

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