General Secretariat

Corporate debt easing may expand to tax arrears

The General Secretariat for Public Revenue is currently working feverishly on the terms and conditions for settlements - including write-offs - of debts that corporations owe to the state, ahead of the return of the creditors' representatives next week and the completion of the bill on out-of-court settlements.

Stricter fines and penalties for tax evasion

The country's tax administration is planning a new, much stricter fines system for businesses and the self-employed, given that the fines currently incurred by those who do not issue receipts amount to little more than a slap on the wrist, as the Finance Ministry's inspectors realized during inspections conducted mainly this summer at tourism destinations.

New online register to include all properties, shares, money abroad

Taxpayers will have to declare income from abroad, holdings in foreign companies and property assets and capital in other countries in the online asset register ("Periousiologio") that the General Secretariat for Public Revenue will introduce in 2017, which will also include all taxpayer data stored by the tax authorities.