Tax

Details of the fines imposed - The auditors of the Hellenic Revenue Service have started checking the company's books in order to record its overall tax behaviour

The government will reduce social security contributions by half a percentage point from January 2025 and another half unit before the end of its four-year mandate, National Economy and Finance Minister Kostis Hatzidakis said at the conference of finance directors titled "The Modern CFO: Strategy, Innovation, Leadership," organized by KPMG on Wednesday.

Freelancers will be asked to pay two or three times the income tax they paid in previous years, according to the first settlement notes received.

The documents proving tax and social security clearance will merge into a single certificate from the end of September.

While the figures from the registry authorities show that 2024 will set a new low in the number of births, the government is currently looking for measures that will strengthen the policy which is summed up by the "one more child" motto.

Procedures are becoming faster and easier for taxpayers who want to transfer real estate or collect money but cannot get tax clearance because they have overdue and unregulated debts to the tax authorities.

Now the debt certificate required to complete the transactions will be issued digitally on the online platform of the Independent Authority for Public Revenue (AADE).

From July, the E9 property tax declaration will be filled in automatically for all cases of donations and parental concessions of real estate carried out through the myPROPERTY platform.

The scheme started last year with the automatic completion of the E9 form in cases of real estate sales and was extended to certain cases of parental benefits and donations.

A tax consultant and former deputy finance minister in Bulgaria recently discussed the country's economic landscape, highlighting concerning trends regarding income distribution and the state of the middle class.

Europe's new budget rules can work only if Brussels can stretch them. Eleven countries including France, Italy and Belgium, posted 2023 deficits above 3% of GDP, the official high-water mark for debt. But not all of them may end up being sanctioned. The regime includes ample wiggle room, allowing countries plenty of time to adjust.

Debts amounting to only 5.5 billion euros have been settled by debtors with dues to the tax authorities, while the total overdue balance exceeds €107 billion. According to the data of the Independent Authority for Public Revenue (AADE), 608,000 taxpayers and businesses have 850,625 active arrangements, with the total amount due amounting to €5.5 billion.