As part of the advisory process, we ask questions and pay attention to your responses. Rather than relying on off-the-shelf services that could loosely fit a...
We approach each audit with sharp thought, straight talk and common sense. In addition to verifying that financial results are fairly presented and meet...
Change and ongoing transformation are fundamental requirements for success in the 21st century. The Grant Thornton Business Consulting team supports...
As organisations become increasingly dependent on digital technology, the opportunities for cyber criminals continue to grow.
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Our digital risk team is made up of a combination of subject matter experts and technical specialists who can help your business comply with the GDPR.
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While business goals and strategies evolve, our services support you wherever you are in your business cycle. The digital economy is simultaneously increasing the magnitude of new business opportunities while increasing the difficulty of getting it right.
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Grant Thornton’s ISO 27001 and ISO 27701 specialists will arrange and oversee the formal audit process.
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We can help you ensure a bespoke balance between tax compliance and effective tax planning for your special circumstances.
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Transfer Pricing Alert
Extension to the deadline for the submission of the 2022 Income Tax Return for persons that have an obligation to submit a Summary Information Table
On 23 February 2024, a Decree was published in the Official Gazette of the Republic, extending the statutory deadline for the submission of the Income Tax Return for the tax year of 2022 from 31 March 2024 to 30 November 2024.
It should be noted that the aforementioned extension applies only for entities that have an obligation to submit a Summary Information Table (“SIT”).
In detail
Following the decision published from the Council of Ministers, the deadline for the electronic submission of the Income Tax Return (T.D.4 form) for the year 2022, for entities that have an obligation to submit a SIT, has been extended from 31 March 2024 to 30 November 2024.
To this extend, the deadline for the preparation of all relevant Transfer Pricing Documentation for the tax year of 2022, for entities exceeding the designated thresholds, as these are defined in Article 33 of the Income Tax Law, is also extended to 30 November 2024.
We would like to highlight, that the deadline for the submission of the Income Tax Return for the tax year of 2022 for persons that do not have an obligation to submit a SIT, remains on the 31 March 2024.
Our Comments
The extension aims to alleviate any potential burden or challenges faced by taxpayers in meeting their obligations within the original timeframe. We advise all affected persons to review their obligations and ensure compliance within the revised deadline. Failure to comply with the extended deadline will result in the imposition of penalties.
Our team remains at your disposal for any assistance that you may require.
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