Tax Declarations 2024: Taxable Incomes Increased by €14.4 Billion in 2023

In 2023, a significant increase of €14.4 billion was recorded in taxable incomes, driven by higher nominal earnings for employees and the implementation of a new taxation system for freelancers and self-employed individuals. This rise led to an additional €2.2 billion in tax revenue, according to ertnews. Data from 6,720,037 income tax declarations processed by the Independent Authority for Public Revenue (AADE) revealed that total declared income reached €106.07 billion, marking the largest annual change in the past decade. The new taxation system for freelancers and self-employed workers significantly boosted their reported incomes and consequently increased their tax burden. Total personal income tax confirmed last year amounted to €12.27 billion, up by €2.22 billion compared to 2023. Nearly half of taxpayers declared an annual income of up to €10,000, meaning 47% of households survive on monthly wages below €833. The average declared household income rose to €15,785 from €13,973 in 2023, with the average tax increasing to €1,827 from €1,553 in 2023. Additional details from last year’s tax declarations showed that 831,053 taxpayers reported zero income, an increase of 50,144 compared to 2023. Furthermore, 3,371 taxpayers declared incomes exceeding €500,000, with 1,499 surpassing €900,000 annually. A total of 1,288,038 taxpayers were taxed based on estimated amounts higher than their actual incomes by €4.168 billion collectively. The greatest income increase due to documentation was observed among employees, amounting to €1.159 billion, followed by pensioners at €1.066 billion, professionals at €253.848 million, and farmers at €241.312 million.