Value-added tax

Electronic payment methods and real-time monitoring of expenses and revenue streams have made individuals and corporations more likely to pay their dues in time, data from the Independent Authority for Public Revenue show.

After a record tax haul in 2024, the Ministry of Finance is preparing for yet another all-time high, around €65-66 billion or even higher, in 2025.

The draft 2025 budget will predict tax receipts rising by at least €2 billion. And this time the extra haul will come from income taxes, not value-added tax or special consumption taxes.

A draft law that abolishes the Stamp Duty on more than 600 transactions and introduces a Digital Transaction Fee for transactions where the related charge remains, explicitly defined in the law, has been put up for public consultation until Thursday, August 22, 2024, at 11:00 PM.

The main changes include the following:

A new era is dawning for taxpayers’ relations with the Inland Revenue following the organizational transformation of the tax administration, which is being “run” by the ADEA and which puts an end to the DOUs replaced by the KEFODE, the KEFOK, the KEBIS, and the YFIs.

Supermarkets' revenue rise during the first half of 2024 was due to sales volume and not higher prices, data show.

On the battle against tax evasion on the occasion of the audit of a party at a villa in Mykonos, the tax returns and the reactions of taxi drivers to the interconnection with POS spoke to ERT, Giorgos Pitsilis.

Regarding the private tax evasion party identified by the ADEA, Pitsilis said it was a “private party in which no tax legality was observed”.

In August, natural gas prices in Bulgaria will see a slight increase. The Commission for Energy and Water Regulation has set the price at 60.75 leva per MWh, excluding additional costs such as access, transmission, excise duty, and VAT. This price applies to sales by "Bulgargaz" EAD to final suppliers and those licensed for thermal energy production and transmission.

Another well-known restaurant in Mykonos, the island of winds, was found by the Independent Authority for Public Revenue (AADE) to be issuing no receipts.

A total of eleven receipts were missing, amounting to over 7,000 euros.

Inspectors from the AADE discovered the violation at the business in Agia Anna and proceeded with the necessary actions:

Supermarket prices for consumer goods also went down in July.

Independent Authority for Public Revenue (AADE) is advancing the digitization of the export finalization process with the implementation of a digital notification system for the exit of goods from the customs territory of the European Union, using a digital message (IE590) sent to the ICISnet system.