Income tax

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.

Friday is the deadline for more than 7 million taxpayers for the payment of the first tranche of the Single Property Tax (ENFIA) and the second installment of income tax.

Finance Ministry agencies estimate that the amount to be collected comes to almost 2.3 billion euros, with 1 billion of that coming from ENFIA and the rest from income tax.

US President Donald Trump presented a tax reform in Indianapolis on Thursday, which he says includes "the biggest tax cut in the history of the country," the news agencies reported.

He proposes a reduction in corporate tax from 35 to 20 percent in an attempt to make US companies more competitive, DPA said.

The government has introduced significant rises in a number of taxes, including a 40 percent rise in personal cars, in line with the new medium-term economic program unveiled on Sept. 27., Hurriyet reports.

Finance Minister Naci Ağbal said a draft would be sent to parliament soon to raise corporate taxes in the financial sector from 20 percent to 22 percent.

Greece is the only member of the nations in the Organisation for Economic Cooperation and Development (OECD) that hiked taxes in 2016, according to the body’s Tax Policy Reform report. The data revealed that Greece was the only nation to raise the basic VAT coefficient from 23% to 24%, while also burdening single employees by an average of 1%.

Tax office is calling property owners in Greece. 6.3 million owners will have to pay in total 3.153 billion euros in property tax (ENFIA 2017) for the time between September 2017 and January 2018.

The declarations for the so-called Unified Property Tax (ENFIA) were uploaded on taxisnet on Sunday evening, a week earlier than originally scheduled.

Over BGN 1.1 million will save the business annually from one of the proposed amendments to the Tax and Insurance Procedure Code (TSPC), which are published by the Ministry of Finance for public discussion. This was announced by the National Revenue Service (NRA).

The amount of money that taxpayers owe to the state soared by 5.47 billion euros in the first half of the year, according to the latest official data made available.

Meanwhile, authorities are ordering about 900 confiscations a day in an effort to recoup the money owed by Greeks.

Thousands of Greeks chose to beat the queues at banks on Monday and pay their income tax installment using credit cards, securing them the right to pay their dues in 12 tranches instead of the three the state normally allows.

Around 170 million euros was paid through cards, up 10 percent on a year earlier.

Greece's 8 million individual taxpayers and companies will have to hand over some 14.8 billion euros in taxes between now and the end of the year, on the basis of their revenues, property and other assets. When indirect taxes are added, the total comes to some 29.2 billion euros, with the bulk of it due in the summer months.