Tax

The first draft of the 2017 budget, which will be submitted to Parliament on Monday, will contain new taxes adding up to an anticipated 1.55 billion euros.

Long queues to peak at the Tax Offices are reported on Friday, since it is the last day of the tax payments for millions of Greeks. The economic staff aims for 700 million Euros from ENFIA, 1,2 billion Euros from income taxes and at least 1 billion euros fom installments of old debts.

Road tax is set to decrease for owners of used cars that were first registered in another European Union country, according to a Finance Ministry circular issued on Thursday.

For instance, a 1.6L car registered in Greece in 2004, after its first registration in France in 2000, will pay road tax of 250 euros for 2017, against 265 euros in 2016.

A considerable portion of the underground economy has been forced out into the open as a result of the capital controls and the increased use of plastic money, contributing significantly to an increase in tax revenues, which in the January-August period exceeded their target by 364 million euros.

Millions of taxpayers will have to dish out about 1.8 billion euros by the end of this week to cover the second installment of income tax and the first payment of the Single Property Tax (ENFIA) due by September 30.

The government views this month as quite decisive in terms of the budget's execution, as a total of 4.7 billion euros will have to be collected by the end of the year.

Greece needs further cuts to pensions and a fairer distribution of the tax burden but should see its economy begin to recover from the following year, the International Monetary Fund (IMF) concluded on Friday.

The only member-state of the Organization for Economic Cooperation and Development (OECD) to raise its corporate tax last year was Greece, while the general trend around the world has been for taxation to promote growth.

A new report by the Organization for Economic Cooperation and Development (OECD) illustrates with complete clarity why Greece is not about to turn a corner and get back on track to growth anytime soon.

Greece is the only one of the international organization's 35 member-states that increased the taxes paid by businesses in 2015.

The harsher penalties for tax dodgers provided by a law passed last October are set to come into force, having received the green light in a circular issued by the general secretary for public revenue, Giorgos Pitsilis. These penalties include imprisonment in cases of large tax evasion, as the state mechanism is making an effort to combat the illegal nonpayment of taxes.

The taxes on rent, parking, the use of alleys and other services determined by Sunny Beach AD are null and void, announced the Prosecutor's Office and demanded that these be abolished.