Finance Ministry

Bill establishing minimum corporate taxation submitted to Parliament

The Economy and Finance Ministry has submitted to Parliament a draft taxation bill that foresees the establishment of a minimum tax rate of 15% for large multinational companies as well as large Greek groups.

The bill belatedly transposes a relevant European Union directive, that entered into force on January 1, into Greek legislation.

Out-of-court settlement applications double

The number of new applications submitted by debtors to the platform for the out-of-court settlement mechanism reached 7,360 in February.

The number of new applications in February was more than double the number of applications in previous months - the average in 2023 was 3,400 new applications per month - and is a record high, according to a Finance Ministry announcement on Friday.

Treasury posts cash balance deficit in February

According to data released by the Treasury and Finance Ministry, the treasury cash balance posted a deficit of 198 billion Turkish Liras ($6.2 billion) in February.

Cash revenues rose from 208 billion liras in February 2023 to 563 billion liras last month, while expenditures leaped 100 percent to 761 billion liras.

Tax inspections to be speeded up

Tax inspections will be speeded up in order to avoid issues of limitations, the Finance Ministry has decided.

Kathimerini understands that Deputy Finance Minister Haris Theoharis considers limiting tax investigations to one year, except for some more complicated cases regarding large businesses, including multinationals.

Incentive for dues repayment

The Finance Ministry, in collaboration with the Independent Public Revenue Authority (AADE), is planning for the reduction of the withholding rate for those who have debts to the state and collect money or proceed with the sale of real estate. The reduced withholding will only concern those who are consistent with debt arrangements and pay their installments regularly.

Extension given to businesses for cash register-integrated POS terminals

Greece's Finance Ministry and tax authority AADE on Thursday announced an extension of 1+1 months for businesses to integrate their POS terminals with cash registers, so that it can be completed without technical problems.

The decision was taken following the demands of POS and cash register suppliers, as well as the businesses, to accommodate the demands of a complex effort.

POS situation needs extension

The Finance Ministry and the tax administration (AADE) are focusing on the extension of the deadline for the interconnection of cash registers with card terminals (POS), with the aim that upon full operation of the new process of issuing receipts - for payment by cards - everything will work perfectly without technical problems.

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