Taxation in France

The improvement is attributed to increased tax revenues (both direct and indirect taxes) due to rising employment along with simultaneous increases in wages and pensions

The Greek state budget recorded a primary surplus of 5.826 billion euros in the January-November period this year, up from a budget target for a surplus of 3.771 billion and a primary deficit of 1.091 billion euros recorded in the same period last year.

The Greek state budget demonstrated a primary surplus of 6.08 billion euros during the January-October period, surpassing the targeted surplus of 5.607 billion euros and marking a notable improvement from the primary deficit of 350 million euros recorded in the same period last year, as reported by the Finance Ministry in a budget execution update using an amended cash basis.

The recovery of pre-crisis levels in Greek GDP terms may now be within sight, but that is not the case for incomes declared to the tax office, which are 16 billion euros away from the historic high.

Why do most tax revenues in Greece come from indirect taxes? Because the state collects more tax from a 150-euro supermarket receipt than it does annually from 3.2 million households.

Out of a total of 9 million taxpayers, 800,000 pay two thirds of the taxes. Salary workers and pensioners declare 72% of total income and pay 65% of taxes.

Cyprus' Cabinet approved several important measures on Wednesday, including a bill on tax rebates for businesses for energy upgrades, an extension of the tax payment deadline and a suspension of the obligation to file tax returns for individuals with a taxable income below 19,500 euros.

The tax administration will target the expenditure declared by the self-employed and freelancers, with the aim of reducing tax evasion and increasing their taxable income.

According to Finance Ministry data, the self-employed have a gross income of 35-40 billion euros per year, while their taxable income is less than 10 times that as it does not exceed €4 billion.

Papoutsanis pre-tax profits increased by 46% to 1.1 million euros in the first quarter of 2022, while turnover amounted to 14.9 million euros, an increase of 45% compared to the first quarter of 2021. Profits after taxes amounted to 0.8 million euros compared to 0.5 million euros in the corresponding period of 2021, showing an improvement of 40%.

In its review of objective values - property rates used for tax purposes - the Finance Ministry is aiming to include real estate valued at an estimated 80-100 billion euros and at least 7,000 new areas in the system.

Salaried workers, pensioners and self-employed professionals will see significant reductions in their tax bills in 2020, according to a draft law that reduces the lowest income tax bracket to 9 percent from 22 percent for incomes up 10,000 euros, maintains the income tax-free ceiling at 8,636 euros per year and offers deductions for families with children.