Tax

The union representing the Greek capital’s taxi owners has called for the resignation of Prime Minister Antonis Samaras and the government, warning that it is mulling action as the tourism season kicks into high gear unless their tax burden is reduced.

Bulgaria had the second-lowest tax burden in the EU, Eurostat data has shown.

The country was second only to Lithuania, but had the lowest income levy in within the bloc with its 10-percent flat rate, the Bulgarian National Radio reports citing the European statistical body.

If the political debate between the government and the opposition ends up focusing exclusively on who is the most populist of the two, there is no doubt that the battle will eventually be won by the real populists.

By Prokopis Hatzinikolaou

Budget revenues in the first five months of the year are showing a rebound according to data released on Thursday by Alternate Finance Minister Christos Staikouras. Notably in May, an election month, revenues posted a significant recovery, exceeding the original targets.

Lawmakers in Hungary have backed the introduction of taxes on revenues from media advertisement which could jump to 40% for the biggest broadcasters.

A detailed view on the bill however suggests it will probably have a severe impact on just one TV channel, the RTL Klub, which is owned by the Luxembourg-based German media concern RTL, Germany's daily Die Welt reports.

Three public enterprises, “Makedonija pat”, “Makedonski sumi”  and “Komunalec - Gostivar”, are among the top ten debtors in Macedonia, according the report of the Public Revenue Office. Together they owe the state around €11 million.

The list reveals that some 3,500 state and private companies as well as individuals owe the state a total of €200 million.

By Prokopis Hatzinikolaou

The Finance Ministry is set to extend the deadline for the submission of tax statements for 2013 incomes from June 30 to July 31, although it does not plan to change the dates for the payment of the tax due.

The Turkish Central Bank topped the corporate tax champion list in 2013 by paying nearly 900 million Turkish Liras, figures released by the Revenue Administration have reported.

A bill envisaging the integration of the National Revenue Agency and Customs Agency is being drafted at the Bulgarian Ministry of Finance.

If approved, a reform setting up a revenue "mega-agency" could begin next year at the earliest.

By Nikos Roussanoglou

House prices in Greece will drop an additional 15 percent in the medium term, Fitch estimated on Thursday, which would take the total decline since the peak of 2008 to 45 percent, according to the international ratings firm.