Interest and Penalties

The official interest rate, as set by the Finance Minister, for all amounts due as from 1 January 2019 is 2% (3,5% for 2017-2018, 4% for 2015-2016, 4,5% for 2014, 4,75% for 2013, 5% for years 2012 and 2011, 5,35% for the year 2010, 8% for the years 2007-2009 and 9% up to 31 December 2006). In addition to the interest, penalties are also charged depending on the circumstances.


1. Physical persons are required to submit personal tax returns only when their gross taxable income exceeds €19.500.

2. A physical person is obliged to submit audited financial statements if his/her annual income from trade/business, rents, dividends interest, royalties or income relating to trading goodwill exceeds €70.000. Such physical person should be paying his/her 2018 income tax by 1 August 2019 and submitting his/her electronic tax return by 31 Mar.

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