Final Deadline for the Electronic Notification System Extended

Taxpayers (real persons and legal entities alike) whose commercial, agricultural and professional earnings and revenues are calculated according to ‘actual basis accounting method’ are obliged to employ Electronic Notification System in their official interactions with the tax authorities starting as of 01/01/016. According to the announcement on the official website of the Presidency of Revenue Administration, 1.232.000 real person taxpayers and 389.000 corporations have already applied to be accepted into the new notification scheme.

In the same announcement, on the other hand, it is stated that the final deadline of applying for the Electronic Notification System is extended to 01/04/2016 due to concerns over the possibility of legal troubles could be faced by those taxpayers who have not fully processed their applications yet.