Tighter noose for tax evasion

[File photo]

The tax administration will target the expenditure declared by the self-employed and freelancers, with the aim of reducing tax evasion and increasing their taxable income.

According to Finance Ministry data, the self-employed have a gross income of 35-40 billion euros per year, while their taxable income is less than 10 times that as it does not exceed €4 billion.

The European Commission remarked in its report last week that, based on the data, the turnover of the self-employed has increased rapidly, while their declared incomes have increased slightly.

"This discrepancy is likely to indicate significant tax evasion and loss of fiscal revenue. The situation could be improved by revising the existing tax system for the self-employed and increasing the use of information from electronic payments," noted the Commission, linking the ongoing digitization of the...

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