Value-added tax

Finance Ministry data released on Thursday confirm there is a black hole in state revenues for the month of July, mainly due to a large number of people not having paid the first installment of their additional income tax.

Net revenues for July amounted to 4.931 billion euros - 756 million below the target set in the medium-term program for 2018-21.

Bulgargaz predicts a 6% decline in natural gas from October 1. This is clear from a news release on the company's website, quoted by bTV. 

The estimated price of blue fuel for the fourth quarter of 2017 is BGN 347.99 per 1000 cubic meters (excluding transport, excise and VAT). This represents a decrease of BGN 22.22 per 1000 cubic meters compared to the current price.

The tax stamp in Turkey has been hiked on mobile phone production and imports for allocation to the state broadcaster, the Turkish Radio and Television Corporation (TRT), with 4 percent added to the existing 6 percent tax stamp fee.  

BGN 66,166 will cost the Sofia budget the recruitment of "researchers" for "preparatory research on a group of people in connection with the elaboration of a vision for the development of Sofia and the suburban territories". A further 41,000 will be spent on making a site and advertising.

The state will disburse income and value-added tax rebates up to 10,000 euros without any probing, according to a set of amendments tabled in Parliament on Thursday.

Contrary to earlier information that taxpayers would have to pay between 0.25 and 0.50 euros for every payment to the state as of this month if made via bank counters, it emerged on Thursday that the charges banks intend to impose on taxpayers using their counters to pay income tax, single property tax (ENFIA), value-added tax etc, will range between 1.10 and 1.50 euros per transaction.

The Independent Authority for Public Revenue is adopting faster procedures for the return of value-added tax within the legal period of 90 days, following a decision signed by the authority's chief, Giorgos Pitsilis.

White goods sales surged 33 percent across Turkey in the first five months of the year due to significant tax cuts in the sector.

According to data from the Turkish White Goods Industrialists Association (TÜRKBESD), Turkey's white goods exports also saw a 4 percent increase in the January-May period, increasing to 7.69 million units, Reuters reported on June 20. 

Greece will have to raise indirect taxes to the tune of 3.5 billion euros annually from the current fiscal year in order to achieve the 3.5% primary surplus target until 2022.

The Independent Authority for Public Revenue's inspection squads identified violations in 70 percent of the checks they performed at popular tourism destinations over the long weekend a week ago.

They included tills rigged to erase each day's turnover, and even a store without a till at all.