Income tax
Key week for tax payments gets under way
Millions of taxpayers will have to dish out about 1.8 billion euros by the end of this week to cover the second installment of income tax and the first payment of the Single Property Tax (ENFIA) due by September 30.
The government views this month as quite decisive in terms of the budget's execution, as a total of 4.7 billion euros will have to be collected by the end of the year.
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No slash in minimum wage to cost $336 million to Turkey's budget, says minister
The plan to not reduce the minimum wage due to the rise in income taxes will cost the state budget 1 billion Turkish Liras ($336 million), said a top official in a televised interview on Sept. 21.
Weekend Tax Approved by Bulgarian Parliament at Second Reading
Parliamentary deputies have approved at second reading the so-called weekend tax. Under the amendments to the Corporate Income Tax Act, in the case of use of company assets (vehicles, telephones and property) for personal purposes a tax of 10% will be levied.
Taxpayers appear reluctant to file their income tax statements
Just 8 percent of taxpayers have submitted their tax statements for 2015 incomes, according to data from the General Secretariat for Public Revenue. The delay is attributed to the strike by accountants who oppose the new social security system, as well as to the absence of any hurry on the part of taxpayers to meet their obligations.
Taxpayers' bill to rise by 1.8 bln euros
The country's 8.5 million taxpayers will have to fork out an extra 1.8 billion euros per year in income tax alone according to the set of new measures the government presented on Tuesday in Parliament. In the next few days another bill will follow concerning taxation on consumption.
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New wave of tax hikes
The gap between Greece’s lenders and the government widens, while the pressure for higher taxes rises since the government excludes any cuts in government spending. But, so long as both sides fail to reach an agreement, it seems that Greece will be forced to accept both tax hikes and cuts in government spending.
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Alt Fin Minister admits further tax burden on incomes
Alternate Finance Minister Tryfon Alexiadis admitted on Friday that more taxes will be imposed saying that “Of course there will be a further tax burden on 2016 incomes, but it will be fair and proportionate from a certain income level upwards”.
Tax shock! Govt proposes rates of more than 60%
Greek Finance Minister Euclid Tsakalotos is awaiting the response of creditors on Wednesday following his proposal for a tax rate hike for more than 50% for income in 2016.
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Turkish gov't eyes to triple share of R&D activities in economy through a reform package
Turkish Prime Minister Ahmet Davuto?lu has announced it will soon launch a reform package to increase the share of research and development (R&D) activities in the Turkish economy from 1 percent to 3 percent.
He said the package will include several incentives to boost R&D activities, such as financial support and tax exemptions for design and research activities.
State to take 99 liras of its 110-lira of minimum wage support in taxes
The Turkish state has announced it would give employers 110 Turkish Liras per employee to decrease the burden of the minimum wage raise, while it will also tax around 99 liras per employee, in effect only slightly decreasing businesses' burden.