Value-added tax

Prime Minister Victor Ponta told Antena 3 private broadcaster on Sunday evening that his Cabinet has not set to compete for announcements of a smaller Value-Added Tax (VAT), adding that the measures in the draft Tax Code were drawn up after a one-year activity and in consultation with experts, the World Bank as well as the business community represented by the Coalition for Romania's Developmen

The tax alleviation programme in the new Fiscal Code aims at reducing some taxes for individuals and introducing several deductions, to correlate the fiscal burden with the wages, finances minister Darius Valcov said in an interview to AGERPRES.

Photo credit: (c) ANGELO BREZOIANU / AGERPRES FLOW

Finance minister Yanis Varoufakis laid out his cards on the table in an interview with private Greek TV ANT1. Speaking to veteran presenter George Papadakis, he said that the government had committed itself to increasing VAT but assured that this would not threaten basic goods and services or harm islands that are privy to special tax laws.

By Prokopis Hatzinikolaou

The Finance Ministry is attempting to resuscitate state revenues after their major shortfall in January and the estimate by a top government official that the fiscal gap of the 2015-16 period will amount to between 5 and 7 billion euros.

Eurogroup finance ministers approved Greece's reform package on Tuesday, marking the start of discussions as to how to cover the country's funding gap in two stages (a) the end of April, and (b) the end of July. Sources state that it is still unknown as to how Greece will be able to cover its funding needs.

BELGRADE - The increase of consumer prices in Serbia totalled 1.7 percent in 2014, which constitutes the lowest inflation rate in the past four decades, the analysis drafted by the Ministry of Trade shows.

The reduction in VAT and excise duties, measures included in the 2016-2020 Fiscal Relief Plan in the draft Tax Code, may take effect earlier than January 2016, according to Finance Minister Darius Valcov.

Photo credit: (c) LIVIU SOVA / AGERPRES PHOTO

The flat tax rate will go down from 16 percent to 14 percent as of January 1, 2019, Minister of Public Finances Darius Valcov announced at the government meeting for the presentation of the draft amendments to the Tax Code and the Tax Procedure Code.

Photo credit: (c) LIVIU SOVA / AGERPRES FLOW

The tax alleviation steps taken by the Government aim at consolidating the middle class and increasing the purchasing power of vulnerable categories, prime minister's advisor Cristian Socol declared to AGERPRES.

Photo credit: (c) SIMION MECHNO / AGERPRES ARCHIVE

Bulgaria's Regional Development Ministry is looking for concessionaires to manage 22 beaches for 5-year periods.

Although most of the beaches have not been taken care of for several years, there are a number of attractive offers in the resorts of Sveti Vlas, Elenite, etc, according to reports of Capital Daily.