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Non-cash expenses until the end of the year

Non-cash expenses until the end of the year

As is customary each year, it is required that non-cash expenditures for this year must be equal to or exceed 30% of the total annual income. All taxpayers should be careful regarding their expenses, as failure to do so may result in an increased tax liability. The tax imposed will be calculated based on the remaining amount multiplied by 22%. For instance, if the annual expenditure amounts to 4,000 euros and there are 2,000 euros remaining, the tax obligation would be 440 euros. However, certain categories of citizens are exempt from this requirement. These include taxpayers who have attained the age of 70, individuals with an 80% disability, persons under judicial support, and tax residents living abroad who are obligated to submit a declaration in Greece. Eligible expenditures made through electronic means encompass the following categories: food and non-alcoholic beverages, alcoholic beverages and tobacco products, housing, transportation, communications, recreation, education, health services, hotels, cafes, restaurants, as well as clothing and footwear.

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