Tax

AADE chief: Changing the image of tax authority

Independent Authority for Public Revenue (AADE) Governor Giorgos Pitsilis spoke of progress in transforming the tax authority's organization and its services to the public at the 25th Capital Link Investment Forum in New York earlier this week.

He focused on the digitization of services that led to more effective procedures, and the use of technology to improve tax inspections.

New Rule: No Receipt, No Payment - Bulgarian MPs Announce Policy Change

Bulgarian MPs have greenlit a significant shift in consumer rights, deciding that individuals won't be obliged to pay for goods or services if they haven't received a proper receipt. This groundbreaking decision alters the landscape for customers who previously had little recourse if they didn't receive a receipt.

Reweighting taxable assets

The National Economy and Finance Ministry has set up a committee to reform the system for the arbitrary determination of taxpayers' incomes through counting their property assets - known in Greek as "tekmiria" - planning for their average reduction by 30% in taxable value terms, as the government's pre-election program dictated.

Explanations from taxpayers

The tax administration will invite more than 20,000 taxpayers to explain how they are able to spend more than they earn in early 2024, as the extensive cross-checking of over 3.8 million taxpayers with declared incomes below 10,000 euros has led to the detection of discrepancies between incomes and expenses.

Hostage to easy business

The disinclination of many Greek businesses to exploit the financing tools that would allow them to expand and shift up a gear is a reflection of a structural weakness in the economy.

Most businesspeople in Greece prefer to stick to the mom-and-pop model that can be controlled easily - and can evade taxes easily too - but never grows, never generates more jobs and never innovates.

MPs back tax evasion bill

Parliament has voted into law a Finance Ministry bill on measures to restrict tax evasion that introduces new regulations for freelancers and the self-employed.

All 158 MPs from ruling New Democracy voted for the bill in principle, while 140 voted against it.

Main opposition SYRIZA, PASOK and the Communist Party had requested roll-call votes in specific articles.

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