Tax

Tax revenues from short-term rentals are expected to reach 830 million euros by the end of 2024, posting a significant increase from previous years, the head of Greece's Independent Authority for Public Revenue (AADE), said on Tuesday.

The measures taken to curb tax evasion are gradually paying off and bringing fresh money into the state coffers. The time has come to put in order the process of submitting tax returns and the service to the citizen, a leading official at the Ministry of National Economy and Finance told Kathimerini.

BELGRADE - The World Bank expects the Serbian economy to grow at a rate of around 4 pct over the medium term, primarily due to consumption and, in part, investments.

The future of a special tax on bank deposits paid to the state in Cyprus may be heading for a shift, though a final decision is not guaranteed.

Starting this year, the long-standing “business levy,” introduced in 2011 as a temporary tax during Greece’s first bailout, is being abolished. Originally designed to reduce the number of inactive tax identification numbers, it has since become a controversial fixed tax burdening all professionals, regardless of their actual earnings.

A serious taxpayer extortion scandal has been uncovered on the island of Corfu following an investigation by the Hellenic Police (ELAS) in collaboration with the Independent Authority for Public Revenue (AADE). This case comes just months after a similar corruption incident was exposed at the Halkida tax office (DOY) on Evia island.

The monasteries of Mountain Athos don’t want to pay tax on the rents they collect from properties they own outside the Athos Peninsula.

By appealing to the Council of State they are seeking a return to the tax regime that was in place before 2010, when their income from rentals outside the region was not taxed.

Taxpayers continue to scan receipts to determine whether they are genuine and whether they have been transmitted to the online system of the tax administration (AADE).

The idea that subsidies for businesses and development projects should not be distributed through the current process, but as a tax deductions, could contribute to the transparency and effectiveness of state aid. 

The aid given to businesses from time to time has not paid off as expected and certainly did not reduce Greece's productive deficit.