Value-added tax

The country's tax administration is planning a new, much stricter fines system for businesses and the self-employed, given that the fines currently incurred by those who do not issue receipts amount to little more than a slap on the wrist, as the Finance Ministry's inspectors realized during inspections conducted mainly this summer at tourism destinations.

The law on the Restructuring of Certain Public Receivables, also referred to as the "Tax Amnesty," entered into force back in August, enabling the restructuring of outstanding tax and other public receivables and also providing an opportunity to Turkish companies to close their accounts against potential tax audits through voluntary tax base increases.

The government will reduce taxation on households and enterprises in 2017, Alternate Finance Minister Tryfon Alexiadis announced in an interview with Sunday's Kathimerini.

The growing use of plastic money, combined with the increased value-added tax takings and the decision of more people to pay this year's Single Property Tax (ENFIA) in a lump sum sent the budget's net revenues soaring in September, which even came as a surprise to the Finance Ministry, which released the data on Tuesday.

The first draft of the 2017 budget, which will be submitted to Parliament on Monday, will contain new taxes adding up to an anticipated 1.55 billion euros.

At a closed-door meeting, the Energy and Water Regulatory Commission (KEVR) took a final decision regarding the statement submitted by Bulgargaz for confirmation of the prices for the fourth quarter of 2016 at which the public supplier will sell natural gas to end customers and to clients included in the gas distribution network.

Value-added tax takings from the Greek islands posted a significant rise in August, offering state revenues a big peak season boost, according to figures released by the General Secretariat for Public Revenue.

Two people were killed and three more were rushed to hospital Wednesday, after inhaling fumes and falling into an olive oil factory vat in the central Greek town of Almyro.

According to reports, the incident occurred when a 50-year-old Bulgarian worker fainted from inhaling oil reside fumes as he was cleaning the vat and fell in.

Perushtitsa's Mayor faces between 3 and 10 years in prison, a BGN 20,000 fine and dismissal.

Regional Prosecutor Rumen Popov explained the corruption scheme at a briefing of the Regional Prosecutor's Office - Plovdiv.

The Central Election Commission will pay BGN 179,500, VAT excluded, for two explanatory campaigns before the presidential elections and the referendum on November 6.