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.

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.

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.

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. 

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