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Over 1m tax returns are incomplete

12:44 07/08/2013

More than one million tax returns are incomplete, L’Echo reports today, citing figures from the federal public service for finance. Out of 2.7m tax returns filed via Tax-on-Web, only 1.5m ‘code 1440s’ box had been ticked. Code 1440 is in effect a sworn statement relating to the additional 4% tax on high moveable assets. The tax concerns interests and dividends above €20,020. In order to avoid making taxpayers declare virtually all of their investment income, the government had allowed people to declare on their honour that they had not received income subject to this additional 4% tax. The vast majority of taxpayers were therefore meant to tick the box. Taxpayers who forgot to tick the ‘code 1440’ box should contact their local tax office, says finance spokesman Francis Adyns. If they fail to do so, they may receive a letter from the inland revenue reminding them of their duty.

Written by The Bulletin