Public economics

Greek lawmakers gave green light to a bill under which 30% of the Public Power Corporation (PPC) will be sold as part of a large-scale privatization program.

Opposition parties however submitted proposals to hold a referendum on the move, daily Kathimerini's website reports.

Greek doctors, prison staff and other state workers went on strike on Wednesday to protest against public sector firings imposed as part of the country's 240 billion euro international bailout.

Hundreds of thousands of small and medium-sized enterprises, self-employed professionals and workers paid on the issue of invoices could soon be relieved of having to pay value-added tax, as the Finance Ministry has prepared such a proposal for discussion with the country’s creditors.

By Sotiris Nikas

The Finance Ministry plans to cancel the tax registration numbers of any taxpayers or enterprises that do not pay their due taxes as the government attempts to further contain its revenue losses.

Bulgaria's Customs Agency has recorded a total of BGN 350M underperformance in VAT and excise duty revenue compared to the monthly estimates set by the treasury in Q1 2014.

By Thanos Tsiros

Greek enterprises will have to pay more than twice as much corporate income tax this year as in 2013, as the Finance Ministry has issued demands for 3.8 billion euros to the 230,000 companies that have submitted their declarations – i.e. a 125 percent increase from last year.

BELGRADE - The Serbian parliament adopted on Thursday a set of amendments to the law on tax procedure and administration, which should improve the efficiency of the Tax Administration.

The amendments raise the fines on tax offences putting them between RSD 100,000 and RSD 2 million.

Minister: Tax evasion will no longer pay off

BELGRADE -- The new tax law marks the beginning of an aggressive campaign against the grey economy, tax evasion and under-collection of tax revenues, says Lazar Krstić.

BELGRADE - The new tax law marks the beginning of an aggressive campaign against the grey economy, tax evasion and under-collection of tax revenues, Serbian Finance Minister Lazar Krstic said Tuesday.

By Ioanna Fotiadi

“I’m in Greece for a week and instead of going on holiday, I’ve been spending all day at the tax office,” says a Greek man who works in Germany. “And the worst of it is that I’ll end up being taxed twice.”