Public economics
Most people can expect to see their tax bills increase
The majority of taxpayers will suffer retroactive tax increases that affect their incomes from January 1, 2016, according to a bill that was to be passed into law in Parliament on Sunday night.
The level of the income tax-free ceiling for Greece's salary workers, pensioners and farmers will be determined by the number of children dependent on each taxpayer.
Debts to the state keep expanding
Citizens' capacity to pay taxes is diminishing by the year, and the latest data from the General Secretariat of Public Revenues show debts to the state on on the rise: In the first quarter of the year taxpayers' debts expanded by 3.22 billion euros, taking the sum of all debts to the tax authorities to more than 87 billion euros.
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Government considering increasing subsidies - Vucic
The government will not give up on offering subsidies - it is actually considering to raise them to attract more foreign investors, Aleksandar Vucic has said.
“We would like to be more competitive in attracting new investments,” Vucic said on Wednesday.
Still no deal. Greek government on the brink of ‘disaster’ again!
With no deal in sight with the Quartet and cash running out fast, the Greek government is trying desperately to avoid a disastrous defeat which would bring the country on the brink of financial disaster and caused political shakeup of seismic proportions.
Businesses and citizens unable to pay new taxes, data shows
According to data from the Greek Finance Ministry, Greek households and businesses are unable to pay off overdue taxes to the state. In the first two months of 2016 the situation has deteriorated, a particularly worrisome development as the 2016 tax collection term has not even started. According to the data, the overdue tax payments in only 60 days have increased by 2.7bln Euros.
Gov’t proposes strict measures to complete program review
The economic team of the Greek government is expecting the answer of the institutions on whether the new measures proposed are sufficient or even more strict measures would be required.
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”.
State revenue decreased in 2015
Despite the tax hikes imposed in 2015, the Greek state managed to collect less revenue compared with 2014.
Although the VAT rate increased on the islands, food and other products, revenue from VAT in 2015 increased only 12 million euros or 0.09%.
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Croatia Plans New Tax on Second Homes
Croatian Prime Minister Tihomir Oreskovic has announced a new property tax for 2017, which will slap bills on people with more than one home, or who do not use their real estate.
"When one taxes a single property, it's a social category, but when a second, third or fifth property are taxed, then it is an economic category," Oreskovic said on Monday.
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Ministry approves incentives for Turkish company's $376 mln investments
Turkish home appliance producer Arçelik has said the Economy Ministry's Directorate of Incentive Implementation and Foreign Investment approved incentives for its planned investments worth 1.14 billion Turkish Liras ($376 million on Jan. 14 parity), in a written statement to the Public Disclosure Platform (KAP) on Jan. 14.