Value-added tax

Retail multinational H&M attributes the non-transmission of hundreds of thousands of receipts to the relevant electronic platform of the tax administration to a technical problem.

The personal number on the new identity cards will consist of three digits plus the VAT number. Citizens will enter a special platform to choose two of the three digits

Government spokesperson Pavlos Marinakis commented on Friday on the taxation of refineries announced by the National Economy and Finance Ministry on Thursday, saying the measure was "genuine" and not "communications-led" - unlike the proposals of the opposition - since the government had the data that was needed to calculate what the excess profits would amount to.

Making the reduced VAT rate for taxis - from 24% to 13% - permanent, as announced by the National Economy and Finance Ministry, "proves the government's willingness to actively support the sector of taxi drivers," Infrastructure and Transport Minister Christos Staikouras said on Thursday.

The National Economy and Finance Ministry announced on Thursday the imposition of a temporary solidarity contribution of 33% on the excess profits of refining companies based on their results for tax year 2023.

The Cypriot cabinet approved a proposal on Wednesday by Finance Minister Makis Keravnos to extend measures aimed at compensating for the living costs of Cypriot households. Government spokesperson Konstantinos Letymbiotis announced the decision following the cabinet meeting.

The number of short-term rental accommodation units has grown in most areas of Attica, as the arrival of summer has brought new properties to digital platforms, despite the government measures taken at end-2023

Customers in the country are reminded by the Bulgarian National Revenue Agency (NRA) that they have the right to withhold payment from a merchant/trader until they receive a receipt. This measure, aimed at preventing traders from concealing their turnover, has been in effect since the beginning of the year following an amendment to the VAT Act.

The Bulgarian State Railways (BDZ) have temporarily halted the procurement process for a new ticketing system, as indicated by a record in the Public Procurement Register. The tender, initiated at the end of April to overhaul the ticket system of "BDZ-Passenger Transport," was suspended on June 6.

Consumption and inflation boosted business turnover last year while increasing tax revenues. According to data from the Independent Authority for Public Revenue (AADE), retail trade recorded the highest sales in absolute terms (taxable output) in 2023, while the automotive sales sector was very close. The third sector was food service and the fourth was the food industry.