Risk management

Such scenarios are based on outdated data from 15 years ago and are no longer likely to happen

The audit mechanism must complete each audit it undertakes within two years, according to new rules on the tax administration.

With this move, businesses will stop being hostage to the taxman, while the cases forgotten in drawers will necessarily come out and must be completed quickly.

Self-employed} professionals will first have to pay the tax based on their presumed income before requesting an audit from the tax authorities and disputing the amount charged to them.

The European Commission on Thursday decided to refer Greece to the Court of Justice of the European Union for failing to provide updated flood risk and flood hazard maps as required by its floods directive. 

Global private capital investors with $2 trillion assets under management (AUM) eye Türkiye to invest in 2024, a survey has showed.

While 74 percent of the senior private capital representatives participating in the survey are planning to invest in Türkiye next year, 40 percent of the participants state that Türkiye has a high weight in their AUM.

With fear over drought rising in Istanbul as water levels in dams continue to drop due to prolonged heatwaves and hot weather, the Istanbul Water and Sewage Administration (İSKİ) has announced the installation of water-conservation devices in houses with high consumption.

Slovenian companies have struck deals with the Defence Ministry to supply anti-aircraft turrets for tanks and a drone with chemical, biological, radiological and nuclear surveillance capability. They will also be supported in development of green solutions for the defence sector.

Caretaker Prime Minister Ioannis Sarmas urged his ministers on Saturday to identify and mitigate potential problems that could emerge while carrying out their duties in the first full-length meeting of the caretaker cabinet at Maximos Mansion.

A 7.2-magnitude earthquake struck Taiwan's southeastern coast on Sunday, the US Geological Survey said, prompting Japan to issue a tsunami warning.

The quake hit at 2:44 pm (0644 GMT) about 50 kilometres (30 miles) north of the city of Taitung at a depth of 10 kilometres, the USGS said.

• According to the 11th Allianz study in 2022, the three biggest business risks worldwide are cyber threats, business disruption and natural disasters.

• The pandemic falls from second to fourth position as most companies feel prepared for future developments. Natural disasters and climate change rise significantly in the annual ranking with the increase of extreme weather events.