Taxation in the United States

Compliant taxpayers in Turkey will be rewarded for regularly informing the state about their income and assets, while non-compliant citizens will face new sanctions as the Finance Ministry has completed a long-anticipated taxpayer evaluation scheme.

By Christina Kopsini

BELGRADE - The Serbian parliament adopted on Thursday a set of amendments to the law on tax procedure and administration, which should improve the efficiency of the Tax Administration.

The amendments raise the fines on tax offences putting them between RSD 100,000 and RSD 2 million.

In an effort to clamp down on companies not paying social security contributions, almost 14,500 checks were carried out by state inspectors between September 15, 2013 and May 31, 2014, Labor Minister Yiannis Vroutsis said on Monday.

Two SYRIZA deputies have called for a deadline extension with regard to income tax declarations for 2013. The scheduled deadline is currently June 30.

 The expected cut to third-party levies will inflict a blow on them

By Christina Kopsini

A gap of 2 billion euros is opening before the government’s very eyes as the country’s social security funds will require additional financing if they are to continue to pay out pensions without any problems until the end of the year.

The Finance Ministry issued a statement Tuesday calling on Greek tax payers to submit their income tax declarations by the scheduled June 30 deadline.

Failure to meet the deadline could lead to delays in the payment of the social dividend, the ministry said.

By Christina Kopsini

The Greek social security system is a ticking time bomb. Excluding the seamen’s and farmers’ pension funds (NAT and OGA respectively), the reserves of the rest don’t even top 4.5 billion euros, which is not enough to fund pensions after 2016, when the problem will explode.

BELGRADE - The Serbian Ministry of Finance released on Thursday that the claim of the Belgrade Barrister Association is not true, according to which the average monthly tax obligations of lawyers increased by over 100 percent, adding that this constitutes an example of selective data presentation and called on the lawyers to end their strike.

By Christina Kopsini

Confiscations made by the Social Security Foundation (IKA) in a bid to retrieve employers’ social security contribution debts have soared from 1,500 per month to between 5,000 and 8,000 per week, as IKA is trying to get its hands on at least some of the money it is owed, while a number of employers who have entered payment plans have failed to stick to them.