Capital gains tax

Greek bureaucracy is on a par with Uganda's regarding the procedures required for the sale of a property: Following the government interventions of the last few years, it now takes a total of 10 documents, certificates and so on for anyone to be able to sell one item of real estate in Greece, the same number as in the African country whose recent history has been marked by internal and external

The tax treatment of income elements gained by foreigners from any source of income has usually been at the top of the international tax agenda and extensively debated worldwide by experts, academics and tax practitioners alike.

Taxpayers are rushing to meet their obligations on the last few days of 2015 so as not to start the new year with debts and tax fines. Huge lines are noted at tax offices around the country in a frantic rush to tie up loose ends.

President Klaus Iohannis has signed on Thursday the Decree for the promulgation of the Law on the stimulation of individual investors - business angels.

Photo credit: (c) Business Angels Romania Facebook page

The Radical Left Coalition (SYRIZA) may have pledged social change but hundreds of large tax evaders continue to dodge the system as though nothing has changed.

By Prokopis Hatzinikolaou

The committee responsible for the adjustment of objective property values is in the final stretch of its task and will submit its proposals to the political leadership of the Finance Ministry before the end of May.

The new property tax that will replace the existing Single Property Tax (ENFIA) will likely have a very low tax-free threshold of between 20,000 and 30,000 euros, according to the Finance Ministry’s latest plans.

Romania aims to exceed, in 10 to 12 years at the most, the average GDP per capita in the EU, and by 2019 authorities want the country to benefit from the most relaxed tax policy in the EU, Finance Minister Darius Valcov told a specialist conference on Thursday.

Photo credit: (c) Liviu SOVA / AGERPRES PHOTO

By Prokopis Hatzinikolaou

By Prokopis Hatzinikolaou

Tax declarations will be more complicated from next year as taxpayers will have to declare all of their assets, including real estate, investments, mobile properties etc. The government hopes this will allow authorities to ascertain how able taxpayers are to pay their dues and help in the battle against tax evasion.