With the deadline for filing tax returns set to expire in 24 hours, following an extension granted by the Treasury Department, accountants and tax professionals are scrambling to get their remaining income tax returns filed on time.

The extension given to the filing deadline is August 2 for individuals and August 9 for legal entities. According to the data, about 250,000 individual returns are still outstanding.

The 3% discount is extended

Taxpayers who choose to pay their income tax in one lump sum by the new deadline for paying the first instalment, i.e. by Friday, August 2, will gain the 3% discount, according to a Treasury amendment.

“There is a last-minute twist with the 3% tax credit. While the rebate was to be in place until July 31, this got a slight extension until tomorrow. Those who file their tax returns and pay the tax in one lump sum will see the 3%,” tax expert Efstathios Velissarakos said, speaking to MEGA.

This year, tax refunds will be immediate, while those who are required to pay can do so in eight installments. Taxpayers also have the option of paying the tax by credit card in 12 interest-free installments and the fixed arrangement in 24 interest-free installments.

“To clarify, those involved in companies have the right to file their tax return by September 15. There they do not get the 3% deduction.”