Income tax

Taxpayers' exhaustion from overtaxation is reflected in the significant decline in revenues from income tax, which missed their target by 686 million euros last year. The hole created in the budget was plugged by confiscations and debt settlements that fetched revenues which overshot their target by 639 million euros.

Corporate taxation in Greece is burdensome and anti-competitive, the Hellenic Federation of Enterprises (SEV) says in a report published on Thursday, stressing that Greek taxes also fail to draw revenues above the average rate of other European countries that as a rule have lower corporate taxation.

Representatives of the taxi companies in Plovdiv have requested an amendment to the Road Transport Act. This decision was reached at a workshop attended by nearly 40 professionals from different companies. They have identified several key requests to be submitted to local and national authorities.

The government is again scrambling to pay off its dues to taxpayers and suppliers in order to meet the target set by the country's creditors.

If the target is achieved, the eurozone will approve the disbursement of a 500-million-euro subtranche that is also destined for the repayment of state arrears.

The Finance Ministry is introducing a fixed discount of 40 percent on fines for previously undeclared revenues, as the voluntary disclosure of income scheme continues.

In the 12 days until the end of the year taxpayers and enterprises will have to pay the state a total of 5 billion euros to avoid bank account confiscations or foreclosures.

The Serbian government announced this on Friday.

In this way, the government will continue to work on creating a dynamic and competitive economy by further strengthening and developing the sector of small and medium-sized enterprises, it announce on its website.

The left-led government's blase response to criticism of its overtaxation of the middle class can be explained by the fact that it actually only affects a relatively small section of the population: From a total of about 8.8 million taxpayers, 80 percent, or 7.1 million, pay from zero to 100 euros per month in taxes.

Almost half a million taxpayers were added to the long list of debtors to the state in the month of September, according to the latest data from the Independent Authority for Public Revenue.

The authority's figures are a reflection of citizens' increasing inability to pay their taxes, with 410,000 not paying their second income tax installment and the ENFIA property tax in September.

Millions of U.S. expatriates may pay less tax as Republicans eye the elimination of requirements for citizens abroad to pay taxes both overseas and in the U.S., the Financial Times reported, citing House Ways and Means Committee chief Kevin Brady.