Tax

Bogus…cash registers discovered in tax raids on Santorini, Mykonos

A much-anticipated “tax safari” has apparently commenced, with Greece’s two top holiday destinations — and suspected VAT tax evasion havens — serving as “hunting grounds” for tax inspectors.

Checks on the stunning island of Santorini turned up three undeclared cash registers, meaning that receipts were bogus.

Turkey, US to sign financial information exchange deal: Minister

Turkish Finance Minister Mehmet ?im?ek said the Turkish government and the United States administration will sign a deal on July 23 which will make financial information exchanges possible between the two countries, as a part of the efforts to fight against tax evasion, as reported by Anadolu Agency. 

Joseph Stiglitz: Germany undermining Europe

Speaking to the French News Agency, Sunday, American Nobel laureate Joseph Stiglitz blasted Germany for undermining the European vision by showing a lack of solidarity towards Greece. “You cannot run a Eurozone without a basic modicum of solidarity”, said the Columbia University Professor. He continued by pointing out that asking even more from Greece is ‘unconscionable’.

Romanian Premier Defends VAT Cut Decision

Ponta on Saturday lashed out against the opponents of what he called "Romania's economic independence" amid criticism over a new tax code envisages a reduction in value-added tax to 19 per cent from the current 24 per cent.

"The tax code has been approved by all political parties following a wide consultation with the business environment," Ponta said in a statement.

Turkey to put additional import tax on electronic goods: Minister

Turkish economy minister Nihat Zeybekci has said the country will put additional import taxes on electronic goods in the upcoming days.

"We'll take special measures in additional customs duties in the next month. New additional import taxes will be put on electric and electronic goods, including mobile phones and tablet computers," he said at a press meeting in Ankara July 2. 

Excise duty on electricity in effect as of August 1

The Serbian Parliament amendments to the Excise Tax Law introduce 7.5 percent excise duty on electricity as of August 1.

According to the government, the excise duty on electricity bills will provide an annual increase in tax revenues in the amount of RSD 17 billion, and it has been estimated that the revenue will total additional RSD 5.4 billion by the end of 2015.

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