Taxation in the European Union
Govt adopts watered-down amendments to VAT act
Ljubljana – The government has adopted a new version of amendments to the act on value added tax (VAT) after its first proposal was defeated in parliament in July. The original amendments were drafted as part of broader tax reform efforts. The new version preserves some of the key solutions but is narrower.
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EU Requires from Bulgaria to Improve Industrial Pollution Regulations and Taxation
The European Commission called on Bulgaria to improve the national rules for the environmental impact of public and private projects. In March 2019, Brussels sent a notification letter to Sofia that the Environmental Impact Assessment Directive had not been properly transposed.
New VAT Rules Applying to Business-to-Consumer Trades in EU Effective as of 1 July 2021
As of 1 July 2021, new European VAT rules for business-to-consumers (B2C) transactions will apply, impacting suppliers of services, goods, marketplaces and postal couriers.
Why these new rules?
- To facilitate EU cross-border trades;
- To ensure fair competition for EU suppliers;
- To combat VAT fraud.
What's new?
Fair market value up by 40% on property prices
The Finance Minister did not rule out the possibility, in the future, of the responsibility for the collection of ENFIA to be transferred to the local government
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Slovenia receives EUR 913m from SURE scheme
Brussels – The European Commission disbursed EUR 913 million to Slovenia in the form of loans under favourable terms as part of the SURE instrument on Tuesday after the country already received EUR 200 million last year to mitigate unemployment risks during the coronavirus pandemic.
The Commission said that it had paid out today a total of EUR 14 billion to nine EU member states.
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Greece offers 50% tax deductions to foreigners and Greeks abroad
It will apply for those transferring their tax residence to Greece for 7 years
Online accommodation booking data reveal extent of tax evasion
It seems that every stone the tax authorities turn over reveals major instances of tax evasion. By checking the declaration of revenues through online travel platform Booking.com, the Independent Authority for Public Revenue discovered that considerable revenues had been concealed by hotels and other forms of tourism accommodation.