The turn of the year regularly brings legal changes. Therefore, we have compiled a small overview of the changes in allowances and deadlines for you.
Allowances:
Basic allowance
Starting January 1, 2020, single individuals in their income tax return receive a higher basic allowance. It increases by 240 euros and thus remains tax-free up to 9,408 euros. Married couples are entitled to a basic allowance of 18,816 euros starting from the year 2020.
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Child allowance
As of January 1, 2020, the child allowance increases by 192 euros to 5,172 euros. Parents can receive this allowance instead of child benefit. This means that either parents receive child benefit or the child allowance.
The tax office automatically checks which option is more advantageous for parents after the income tax return is submitted.
Deadlines:
In 2019, the submission deadline for the income tax return was extended by two months. The new general submission deadline for the annual income tax return is July 31 of the following year..
However, simultaneously stricter laws for late submissions were introduced for the two-month extension.stricter laws for delays in submission were introduced.
If a tax advisor or wage tax association is hired for the submission of the tax return, the declarations could previously be submitted by the end of the year. This deadline was also extended by two months. The tax return can, in this case, be submitted by the last day of February of the subsequent year.by the last day of February of the year after next can be submitted.
Maciej Wawrzyniak
In his private life, Maciej enjoys sporting challenges, playing the guitar, and swimming in the lake. He is also the proud father of three sons.
