Value-added tax

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.

The first day of the platform’s operation saw 20,000 applications from eligible voucher recipients seeking admission to nurseries and access to creative activities for school-aged children, teenagers, and individuals with disabilities for the 2024-2025 period. This was reported by the Minister of Social Cohesion and Family, Sofia Zacharaki, in an interview with SKAI radio.

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.

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.

Coffee in the hand or in the cafeteria? The 24% increase in VAT on the price of served coffee may provide the answer for lovers of the beloved beverage.

Cyprus' Tax Department has announced a zero rate of value-added tax (VAT) on essential goods until September 30, 2024, following a decree issued by the cabinet. This measure aims to alleviate financial burdens on consumers amid economic challenges.

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.