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.

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.

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.

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. 

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