Taxation in the United Kingdom

The Finance Ministry is bringing to Parliament a clause that will allow for the return of vehicle license plates with the payment of road tax by the month for owners who chose to hand over their plates to avoid paying the annual levy.

Turkish home appliance producer Arçelik has said the Economy Ministry's Directorate of Incentive Implementation and Foreign Investment approved incentives for its planned investments worth 1.14 billion Turkish Liras ($376 million on Jan. 14 parity), in a written statement to the Public Disclosure Platform (KAP) on Jan. 14. 

The New Year has brought several tax cuts in Romania benefiting consumers, small firms as well as those who receive dividends, according to local media reports.

A cut in standard Value Added Tax (VAT) rate to 20% from 24% as of 1 January 2016 will cost the state budget about RON 8 B (EUR 1.7 B) in revenue, according to romania-insider.com.

Three basic changes to car excise duties for 2016 are being promoted by the government, according to a ministerial decree to be published on Monday at the latest.

The Finance Ministry posted on Opengov.gr platform the draft legislation on the new measures to be applied in order to begin discussions with Troika on the evaluation of November.

The Greek Finance Ministry issued a statement ruling out an extension for the filing of citizen’s tax statements. It should be noted that the deadline for submitting tax statements is August 26. The statement underlines that:

Upon their return home from their holidays Greeks will be facing the bitter realities of bloated bills and taxes. Here is a list of what Greek households should expect to pay from September onwards:

-Unified property tax (ENFIA). It will be paid in 5 instalments (the first one in October), instead of last year’s 6-7 instalments.

The Serbian Parliament amendments to the Excise Tax Law introduce 7.5 percent excise duty on electricity as of August 1.

According to the government, the excise duty on electricity bills will provide an annual increase in tax revenues in the amount of RSD 17 billion, and it has been estimated that the revenue will total additional RSD 5.4 billion by the end of 2015.

Higher budget revenues will be the main effect of the new 7.5 percent excise duty on electricity, Serbian Finance Minister Dusan Vujovic said Monday.

By Thanos Tsiros

Value-added tax rates have been raised three times since 2010, all within the space of one year: in March and July 2010 and then in January 2011. The hike that the government is negotiating with the country?s creditors will be the fourth in five years.