Tax avoidance

The Group of Seven wealthy democracies agreed on June 5 to support a global minimum corporate tax of at least 15% to deter multinational companies from avoiding taxes by stashing profits in low-rate countries.

US Treasury Secretary Janet Yellen has called for a global minimum corporate tax rate for companies that work internationally.

United States are working with G20 nations to agree to a global minimum corporate tax rate that can stop the downstream said the Secretary to the Chicago Council on Global Affairs.

The Cayman Islands is responsible for the largest global tax losses

The discount of 25 percent for professionals' future tax obligations will only be activated after the payment of their value-added tax dues for the first quarter of the year by April 30.

Greece has received credit from the Organization for Economic Cooperation and Development (OECD) for its use of digital instruments in stemming the spread of the novel coronavirus.

Under lockdown regulations imposed by authorities on March 23, anyone outdoors must have either a signed self-declaration form or must have sent a text message to a central number.

Turkey has been spared from joining the EU's blacklist, diplomatic sources said, though it has failed to fulfill its commitments and Brussels is under pressure to handle the tensions with Ankara.

However, the 27 EU Member States will add the Cayman Islands, the first British overseas territory to join the Black List after Brexit.

European Union diplomats have reached a preliminary agreement to give Turkey more time to meet tax transparency requirements, two diplomatic sources said, in a move that could weaken the bloc's blacklist but at the same time avoid a new clash with Ankara.

Greece's tax authorities are embarking on the relentless pursuit of tax dodgers in 2020, with tens of thousands of checks scheduled to take place this year by the country's Independent Authority for Public Revenue.

The legal framework planned for online accounting is in its final stage of preparation, Giorgos Pitsilis, chief of the Independent Authority for Public Revenue, said at the 11th Thessaloniki Tax Forum on Monday.

European Union taxpayers held assets worth at least $1.6 trillion offshore in 2016, equal to nearly 10 percent of the bloc's output, the European Commission said on Friday, estimating tax revenue losses at around $50 billion a year.