Tax

Athens-listed Autohellas on Wednesday reported a 23.5% increase in its second-quarter turnover to 255.2 million euros from €206.6 million in the same period last year.

Operating earnings also rose 23.5% to €38.9 million, pre-tax earnings rose 10.4% to €29.8 million and after-tax earnings rose 11.2% to €23.8 million.

Almost one in three businesses audited by the Independent Authority for Public Revenue (AADE) evaded paying taxes in the year to August 31. 

The planning of National Economy and Finance Minister Kostis Hatzidakis includes a new framework for the taxation of the self-employed. The new finance minister has challenged himself to make his own mark in the fight against tax evasion, as he did in his previous posts tackling pensions, Public Power Corporation and Olympic Airways.

With the final deadline for submission of income tax statements at 3 p.m. Thursday, tax authorities announced that additional tax payments - beyond tax withheld at source, mostly for salaried employees and pensioners - was 12.5% higher than last year.

All online platforms, Greek and foreign, selling goods and services, must send transaction data involving Greek individuals and companies to the Independent Public Revenue Authority (AADE), a draft bill provision states.

Finalized data on revenue for the first seven months of the year show that it exceeded the target set in the 2023 budget by €2.246 billion, or 7.1%, as VAT and income tax receipts exceeded expectations.

Greece's four biggest banks - Alpha, Eurobank, National and Piraeus - aim to boost their capital, even after accounting for the dividend they distribute over the next three years, and reduce their tax debt.

Property transactions are thriving, as official data show, and real estate professionals say that a great part of the growth is driven by foreign investors.

By August 10, with not quite two-thirds of the year gone, there have been 112,000 property transaction, while in the whole of 2022 139,000 sale contracts had been signed, up from about 105,000 in 2021 and 75,000 in 2020.

Greece's two oil refineries, HELLENiQ Energy and Motor Oil paid a first installment of a one-off windfall tax on their 2022 profits in July, officials have told Kathimerini. 

The windfall tax was imposed by the European Commission for all bloc members and it adds up to 33% on those 2022 profits that exceed the refiners' 2018-2021 average by 20%. 

Tax authorities are cracking down on evasion by retailers in the country's main tourist destinations, temporarily shutting down dozens of businesses daily.

Tax officials are checking all card payments made in June to find whether businesses failed to disclose sales in their quarterly VAT statements that were submitted at the end of July.