Value-added tax

Tax inspectors shut shops in tourist areas

Tax authorities are cracking down on evasion by retailers in the country's main tourist destinations, temporarily shutting down dozens of businesses daily.

Tax officials are checking all card payments made in June to find whether businesses failed to disclose sales in their quarterly VAT statements that were submitted at the end of July.

More taxes being paid on time

Rough estimates of tax evasion put it at between €8-10 billion. But recent data show that tax compliance is increasing, which accounts for higher than expected revenue in the first seven months of the year.

Data also show that compliance is higher among businesses than among individuals.

Self-employed come under tax scrutiny

Self-employed professionals who declare incomes of less than 10,000 euros will be targeted by the tax authorities immediately after the end of the tax return submission process, which ends on August 31.

The first professions to be put through the auditing wringer include plumbers, electricians and all occupations related to construction in general, as well as taxi drivers.    

The mystery of runaway prices

Outrageous discounts are the first "mystery" in the Greek market, with supermarket chains successively advertising 50% off specific products. Are they selling below cost to drum up new custom? Probably, but then we see those same products going for half-price at every other supermarket. 

Cross-checking reveals extensive evasion

The interconnection of cash registers with card terminals (POS) may have been delayed and not be expected until the first months of 2024, but this does not mean that the tax administration is sitting idly by. Extensive cross-checking is under way, as well as spot checks at businesses to verify that the data generated by the POS are identical to the receipts issued by the cash registers.

Special Consumption Tax on natural gas, petrol hiked

The Special Consumption Tax (SCT) on natural gas for household use and petrol has been hiked, according to a decree published in the Official Gazette.

The SCT on petrol was increased by 5 Turkish Liras ($0.19), but including the value-added tax (VAT), the pump price will be some 6 liras higher, while the cost of filling up a 50-liter tank will rise to 1,702 liras.

Locking in tax declarations

The Finance Ministry and the tax administration (AADE) are planning on "locking" pre-filled value-added tax declarations as well as the E3 tax form, at least regarding the declared income of businesses and professionals, in an attempt to contain tax evasion.

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