Tax

The Independent Authority for Public Revenue (AADE) has caught 27 companies allegedly involved in cases, as well as criminal rings, of issuing and receiving bogus invoices, it was announced on Wednesday.

The Finance Ministry's Tax Inspection Board is keeping a close eye on those who spend lavishly but pay little or no tax.

Some 800 people, who spend more than 5 million Turkish Liras a month, spend money on luxury items and own luxury cars, have already been put on the board's radar.

The International Monetary Fund said it reached a new $7 billion loan deal with Pakistan in a bid to bolster its faltering economy.

Islamabad agreed in exchange to conduct further unpopular reforms, including widening the South Asian nation's chronically low tax base.

A 40-year-old man is accused of defrauding the government of 1.4 million euros by establishing businesses, primarily gyms and hair salons, in the northern port city Thessaloniki and using straw men to avoid taxes and social security contributions. 

Police moved in oi the suspect following an anonymous tip. 

The operation of the betting company B2B GAMING SERVICES (MALTA) LTD, which has been licensed and provided betting services in the Greek market under the BETSHOP.GR brand, has been suspended due to tax violations. The company claims that its customer service bank account has been seized by the tax authorities, resulting in the suspension of its operation.

The government is planning incentives for taxpayers who are consistent in their tax obligations and those who have included their arrears in debt settlement and repay them without delay. These bonuses are expected to be activated from 2025.

Ministries are gearing up to draft the 2025 Budget, which must align with the “tight” fiscal direction imposed by the new Stability Pact rules in Europe. Despite these constraints, the budget will provide an additional €880 million in social benefits compared to 2024, aimed at supporting vulnerable groups and small and medium-sized households.

The increased inspections by the tax administration on the Greek islands have led to a notable reduction in tax evasion, but on the mainland the failure to issue receipts and report revenues to the tax office is growing.

The number of card transactions carried out in Greece grew 20-fold in the period 2014-2022, with their value increasing nine times at the same time.

Any proposed reductions in the Tax are not an appropriate tool for solving the structural problem of high prices, says the House Budget Office in its quarterly report.