Tax reform

Bulgaria Curbs Cash Payments at BGN 5,000, Tightens VAT Rules for Company Cars

Bulgaria's parliament on Wednesday tightened tax rules for company-registered cars and lowered the ceiling for cash payments.

Under draft amendments to the Corporate Income Tax Act adopted on first reading, companies will be able to reimburse only up to 70% of VAT on the purchase price of a vehicle if they use it for personal travel during weekends.

Euroworking Group to decide whether Greece should receive the 2 bln tranche

The government will give a fight to avoid 10% of the prior actions while it claims that 90% of the prior actions have been already covered. But, it seems that European officials believe the opposite, since they claim that Greece has not implemented even half of them.

Govt plays “eenie meenie miney mo” between 23% VAT hike to private schools or car excise duties

The government is under asphyxiating pressure to submit a new draft bill to Greek Parliament on Thursday if it hopes to receive the 2-billion-euro tranche benchmarked for Greece. Non-performing (so-called  “red”) loans and VAT hikes in private education are the two thorny issues that are currently on the table.

Tax official to contest govt’s decision to expel her as chief of Public Revenues

No sooner did the government decide to expel Public Revenues General Secretary Katerina Savvaidou from her post, that the tax official announced that she would challenge the decision using all legal means and channels. The cabinet meeting held earlier had resulted in her expulsion and prompted Savvaidou’s anger in a lengthy announcement.

Bulgaria Regulator Proposes Power Price Cut for Industrial Consumers

Bulgaria's energy regulator has proposed to cut the 'duty to society' fee levied on power prices for industrial consumers which was increased in August.

The Commission for Energy and Water Regulation, or KEVR, is proposing to cut the fee by BGN 1.07 to BGN 36.83 per megawatthour, VAT excluded, as of November 1, the head of the regulator Ivan Ivanov told reporters on Thursday.

Government decided three VAT rates for private education

The government decided to impose VAT on private education at different rates ranging from 0% for kindergartens to 13% for private primary and secondary schools.

The decision was made during a joint session of the Government Council for Economic Policy and the Government Council for Social Policy with Prime Minister Alexis Tsipras attending and chairing.

Taxing October ends in horror for Greek households

The omnibus bill of austerity measures was voted by 154 MPs at dawn on Saturday following a week of debates, but the hard part begins this week as harsh laws aimed at slashing the funds of Greek households so as to line state coffers are put in place. Here are some of the changes that have been voted on and need to be implemented immediately:

Turkish retailers ask for cut in value added tax to fuel consumption, employment

A leading retail sector representative has requested a discount in value added taxes (VAT) for fruits, vegetables, red meat, legumes, bakery products and olive and olive oil products from 8 percent to 1 percent to boost the sector's growth level, create more employment and fuel consumption. 

Pages