Value-added tax

The integration of cash registers with POS systems has opened the eyes of tax authorities to a hidden treasure within the taxi sector. With the rise of electronic transactions and the immediate transfer of data to the Independent Authority for Public Revenue (AADE), state revenues have already increased by at least €1.2 billion compared to the seven months from January to July 2023.

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).

Fewer households in Bulgaria are relying on wood for heating. Although wood remains the preferred fuel source in mountainous and semi-mountainous areas, supply issues persist, particularly for elderly residents who struggle to split and store firewood.

As part of its effort to keep a tight eye on taxpayers who make large incomes and lead lavish lifestyles yet fail to pay the proper taxes, the Treasury and Finance Ministry has commenced tracking transactions of luxury yachts and boats.

The data indicates that VAT evasion has been halved. The systematic expansion of electronic transactions, despite some resistance, has significantly curtailed clandestine activities. 

The head of Greece's Anti-Money Laundering Authority, Charalambos Vourliotis, has ordered the freezing of accounts belonging to 140 individuals allegedly involved in a case of fraud, fictitious transactions and VAT evasion amounting to approximately 150 million euros, it was reported on Wednesday.

A mammoth criminal case for cross-border fraud with a loss of revenue for the Greek state of more than €10 million, has been brought before the Greek authorities.

The Ministry of Finance is considering a freeze on taxable property rates, known as "objective values," for at least the next year to help resolve the housing problem.

Starting in October, the price of water in Sofia is set to rise by 20%. This proposed increase by "Sofiiska voda "is currently under review by the Commission for Energy and Water Regulation.

If approved, the cost of water supply in the capital will be 3.52 leva, inclusive of VAT.

Tax Services are being enriched with new procedures, where taxpayers are now being served for their vehicles, according to a decision by the governor of the Independent Authority for Public Revenues, Giorgos Pitsilis.