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Tax statements 2019: Save documents using data from the data of tax returns from previous years

Tax statements: How to save the documents

Hundreds of thousands of taxpayers who acquired the very low incomes 2018 They have the ability to avoid over-taxation by the IRS records….

At the same time they can prevent the risks of loss of social benefits and exemptions that causes the determination of the taxable income based on presumptions.

Those taxpayers are finding that the application of provisions on the living evidence to identify unrealistic heights of their annual taxable income.

This leads to risk being saddled with huge amounts of income tax and special solidarity levy and lose social benefits and exemptions granted under income criteria.

They taxpayers, react efficiently using the method of «Previous years capital consumption", provided for in paragraph 2 of the article 34 of the Income Tax Code (n. 4172/2013).

By the method of "Capital consumption", each taxpayer can cover any additional difference taxable income resulting from application of evidence.

The imputed income is determined by the tax office by the living evidence and the acquisition of assets items exceeds the declared income), citing income and revenue declared even from many years ago.

May in particular refer to the tax returns of previous consecutive years (those years he) and to take the following action:

a) To add together the amounts of all types of income,

wages, pensions, benefits, rentals, companies, deposit interest, dividends, gains on sale of shares etc..

the amounts of revenue from asset sales and from any other sources, lump sums received benefits insurance funds, profits from lotteries, received donations etc., which has state on the declarations of previous years.

b) Since the sum of income and previous years' revenues, resulting, deduct the amounts taken into account in the same tax returns as living evidence (residential, private cars, pools, trough, servants etc.)

And the amounts declared in the same statement that it spent to acquire assets (real estate, private cars, trough, mobile high-value items, etc.).

The net amount resulting from the above math is the "capital" of previous years, which the taxpayer to "form" and display the Tax Office as a savings product.

Thereafter, in each case, the "capital" to be formed in this way, the taxpayer may use part to cover the additional income difference of identifying the items in this year's statement.

Ie can be argued that the additional difference imputed income of its tax declaration covered by 'use' of a part of the "capital" which him left over from previous years and resulting on the basis of statements of previous years, as previously described.

The taxpayer must, then, declare the "spent" part of "capital" in the table 6 the tax return, either in code 787 (on the same) either in code 788 (on his wife).

By doing this is to cover the additional difference imputed income derived based on evidence, in which case as taxable income will not be taken into account by the IRS imputed but much lower declared income.

The amount to be entered in one of these codes should be greater than the additional income difference because evidence, to fully cover the income difference resulting from the evidence.

If coverage of documents by using the 'capital consumption':

1) The income tax and the special solidarity levy will be calculated not on the implicit but on the declared income, which is lower, so the final tax liability of the taxpayer will be less.

2) If there are dependent children, then OGA during processing of the form A21 to be presented this year by the taxpayer (after submitting the tax return), It will take into account as an annual household taxable income for the payment of the household allowance not imputed but much lower annual declared income.

There is a possibility to classify the lower income scale and to grant greater amount allowance!

3) If the declared income of the taxpayer is lower than the current income limit established, where appropriate, for partial or total exemption from EN.F.I.A., but imputed income (income of identifying the items) It is higher than the income limit for this exemption, the taxpayer will not lose the right to exemption.

And it will happen because it has covered the evidence, so to determine whether the exemption is entitled to take into account the declared and not the imputed income.

consequently, in such a case, the taxpayer will save the 50% the EN.F.I.A. or even the whole of this valuable tax if triteknos or many children or disabled person over 67% (for these three categories of vulnerable groups provided full immunity).

particularly, if the taxpayer is:

  • single annual declared income up 9.000 euro or
  • married 1 dependent child and an annual declared income up 11.000 euro or
  • married 2 dependent children and an annual declared income up 12.000 euro

will save the 50% the EN.F.I.A. even if based on the evidence of his income is determined at a level significantly higher than the above amounts.

also, if the taxpayer is triteknos annual declared income up 16.000 euro or tetrateknos annual declared income up 17.000 euros will save the entire EN.F.I.A.

Even if the evidence of determining the annual income to a level significantly higher than these amounts.

For the correct way "formation" of the "capital" of the tax returns of previous years that taxpayers should know, particularly, the following:

* To determine the "capital" based on the tax return each previous year

They must add up the real incomes that are taxed or legally exempt from tax.

The money earned but not considered income.

The funds derived from the sale of assets, the introduction of monetary funds from abroad.

loans, donations, parental benefits etc. and any other sum which is proven to have been recovered.

Since the sum of all such income and revenue amounts amounts in living evidence must be removed for houses, IX, trough, pools, servants and private school tuition

As well as costs incurred for the acquisition of assets, for donations or parental benefits and funds to repay loans.

The amount remaining after deduction of the above costs is the "non-spent capital" may invoke the taxpayer for each year.

* No provision for a time limit for coverage of evidence with "capital consumption"

consequently, to cover evidence can be relied upon "capital consumption" osondipote previous years (SS. namely 5, 10, 20, 25 or even 30 and 40 years), provided that it is possible to cross the allegations of the taxpayer with the data held in the Tax Office.

* For the "formation" of the "capital", the taxpayer should draw on paper or in electronic EXCELL program a "capital consumption situation".

A form panel with at least three rows and number of columns equal to the number of previous years being consulted plus one more column totals of all years amounts.

The first row of each column must state the income and income stated in the tax return each year, in the second row amounts of evidence of that year which removed and the third row of the balance remaining "capital" that can be invoked for the same year.

In the last column of the table should be listed, as totals, in the front row total income and revenue figures for all previous years relied on by the taxpayer.

In the second series the overall evidence amounts deducted from income and revenue of all years and in the third row total remaining "capital to consumption" from all previous years.

The amounts to be entered in this table should be verified by the data of tax returns for past years which will invoke the taxpayer.

Declarations of past years, the taxpayer can find the account in TACHISNET system where registered electronically printed E1 submitted for the income years 2002-2017 (years to declarations 2003-2018).

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