Tax

Consumption and inflation boosted business turnover last year while increasing tax revenues. According to data from the Independent Authority for Public Revenue (AADE), retail trade recorded the highest sales in absolute terms (taxable output) in 2023, while the automotive sales sector was very close. The third sector was food service and the fourth was the food industry.

A bonus of up to 3,000 euros awaits taxpayers who, through the appodixi application, have detected falsified mechanisms and fake receipts in their transactions with various businesses.

The tax audit mechanism has proceeded to check important cases of complaints, while the relevant fines provided for by the legislation have already been imposed.

The incomes Greeks declared to the tax office last year were lower than the corresponding ones in 2008. For 2024, however, the government is anticipating a historic high in the "raw material" for the imposition of income tax.

From Wednesday, May 1st, citizens have the option to pay their road taxes monthly through MyCar

Greece imposes a higher income tax on all types of households than most countries in the world and of course the OECD average. Yet the greatest distance is recorded - higher than 10 percentage points - in families with children, especially in those with the lowest family income.

Sales of real estate with cash, undeclared incomes in Greece and abroad, taxpayers who appear with annual incomes that do not exceed 10,000 euros, or larger amounts but with disproportionate expenses, as well as those who obtain income from short-term leases, are being targeted by the tax collection mechanism in 2024.

As the clock ticks down to midnight tonight, Bulgarians are reminded that April 30th marks the final day for filing their 2023 personal income tax returns. For those utilizing electronic services, the deadline is midnight, while those opting for paper submissions at revenue agency offices must do so by 5:30 pm.

Some 1,000 tax inspectors will be out in the field in 50 of the country's 81 provinces to check if large companies are complying with tax regulations in key industries, such as retail, transportation, jewelry, energy, health services, hospitality, construction and textile.

Salaries may have risen in Greece in 2023, but the tax burden has also increased. For some the rise in wages has taken them into a higher tax bracket, while for most the burden is a result of tax brackets not being adjusted for inflation.

Cyprus ended 2023 with a fiscal surplus of 918.7 million euros, the country's Statistical Service (CyStat) said on Monday.

However, the country still has a significant debt of €23.03 billion, which is about 77.3% of its total economic output.