Value-added tax

"At the beginning of the year, the fiscal reserve was BGN 11.9 billion, of which BGN 10.8 billion was in BNB (Bulgarian National Bank) accounts. As of May 10, the fiscal reserve decreased to about BGN 10.3 billion, and in BNB accounts - to 9.6 billion". This was stated by the acting Minister of Finance Rositsa Velkova in the plenary hall.

An online petition in Kosovo calling for the lowering or removal of VAT on menstrual products such as menstrual pads, tampons, cups and underwear, has received over 5,600 signatures in just three days.

The total value of properties sold in Cyprus in the year's first quarter was 1.7 billion euros.

Despite the market facing facing numerous challenges, it has shown resilience, as indicated by the data presented in the quarterly "Real Estate Market Update" by the Real Estate Registration Board and Department of Land and Surveys.

The Cyprus Council of Ministers approved a decree during Tuesday's session, which imposes a zero VAT rate on the delivery of certain products until October 31.

These include bread, milk, eggs, baby food, baby diapers, feminine hygiene products, and adult diapers.

The Greek state budget recorded a primary surplus of 3.079 billion euros in the January-March period this year, from a budget target for a primary surplus of 28 million and a primary deficit of 1.650 billion euros recorded in the corresponding period in 2022, the Finance Ministry said on Tuesday.

President Recep Tayyip Erdoğan announced on April 24 new economic facilities for tradesmen, including the exemption on special consumer tax for vehicles and tax for homemade sales made through online platforms ahead of the May 14 polls.

Cyprus' finance minister, Makis Keravnos, said that the ministry is considering reducing the value-added tax (VAT) for basic necessities to tackle high prices.

Türkiye's industrial output has declined by 8.2 percent in February from a year ago, data from the Turkish Statistical Institute (TÜİK) have shown.

In the previous month, industrial production rose by 4.6 percent on an annual basis.

The industry's sector production contracted by 6 percent month-on-month after rising 2 percent in January.

Supermarkets in Greece generally have lower prices than other countries in Europe, but this is a phenomenon that is mainly related to the fact that in Greece most vegetables and fruits are cheaper and in general products sold in bulk.

Tax revenues for the period January-February 2023 have increased by 1.245 billion euros or 14.2% compared to the target, according to the execution data of the state budget, on a modified cash basis.

This significant excess comes mainly from the overperformance in the collection of value-added tax and income tax.