A separate tax return between married. It pays or not?

It opens in the coming days, likely on 9 January 2020, the platform on the taxis for the application of those married they want to submit a separate tax return for the income of the tax year 2019.

  The relevant application, you will find it at the link below:  Application of a separate tax return

• Deadline for the submission of : Until 28/02/2020 while the application may not be withdrawn.
• How to submit : Codes taxis one of the two spouses. If your interested in does not have a code, something that usually happens with the wives, you need to issue codes, get license key from the irs to activate them, and then be placed in the application.
• Frequently asked questions – answers you will find here: Common questions and answers for a separate tax return

Ultimately, however, the interest of such a move or not? 

Advantages

1. Each partner manages and maintains the personal tax data or has reasons to keep the secrecy of the amount of the income, deposits or other assets e.x. in cases of dimension, when you have a pending divorce, and a lot of other reasons that you don't want to be taxed in common with the other for reasons of tax refund, or just a bad relationship between them.
2. Don't be off between the result of the liquidation.
3. Not blocked by the irs, the issue of tax clearance of one spouse when the other spouse has arrears to the tax administration.
4. Each spouse shall determine independently the payment of income tax.

Disadvantages

1. Taxpayers lose the benefit of the transfer of income from one spouse to another, to cover the evidence. Increases the chance of one of two spouses to be asked to pay a higher tax because of the evidence. So to be in possession of assets that cannot be serviced by the individual's income. With the joint declaration, the evidence covered in the family, therefore this risk is reduced significantly.
2. The charge with evidence or electronic money that is necessary for the provision of the tax credit that leads to the tax-free threshold is not transferred from one spouse to another, when it is not sufficient for a husband.
3. In individual company lost the right to the transfer of the damage, if there is a difference documents.

GENERAL: The income of the minor children shall be declared in the income of the parent who has the highest income and not exercising parental responsibility.

Before you decide to apply for a separate tax return, please consult your tax advisor. We at Accounting office EUROTAX – ΤΣΑΝΤΗΛΑΣ ATHANASIOS & ASSOCIATES we check each case individually and advise you about the pros and cons based on your own case.