Internal Revenue Service

Tax authority: Romania no longer among EU states to experience tax gap widening

Romania is no longer among the countries that experience the widening of the tax gap, said the National Tax Administration Agency (ANAF), referring to the European Commission's recent VAT Gap report. For Romania, the figures show that the fiscal gap remained approximately steady at 35.8 percent in 2016 and 35.5 percent in 2017 (the numbers are rounded off to 36 percent for both years).

Tax declaration deadline ends on Monday

Monday is the last day for taxpayers in Greece to submit the declarations of their 2018 incomes, with the fine for delays ranging from 100 to 500 euros.

According to official figures, more than 6 million declarations were submitted by Sunday, with around 150,000 still pending even though the Finance Ministry recently ruled out the possibility of a further extension.

Asset register by end of March

Taxpayers will have to declare all their deposits, real estate assets, bonds, cars and cash to tax authorities in 2019.

The electronic register of assets, known as the Periousiologio in Greek, will start operating at the end of the first quarter of the year and 8.5 million taxpayers will need to fill in a declaration form listing the entire set of their assets.

Middle class bear brunt of taxes

Greece's beleaguered middle class is yet again set to bear the brunt of the government's tax policies in 2019.

This has been made abundantly clear in Greece's first post-bailout budget, according to which there will be no easing of pressure on people making more than 15,000 euros per year in taxable income.

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