What is the Common Reporting Standard (CRS)? Over the past few years, governments and organisations all over the world have been promoting the global tax transparency agenda to minimize tax evasion. In this context, and in response to the request of the Group of Twenty (G20), the Organisation for Economic Co-operation and Development (OECD) issued Διαβάστε Περισσότερα
The Greek government is currently looking into a taxation plan that aims to attract foreign shipping interests seeking to invest, said the head of the country’s shipowners union, Theodoros Veniamis at the closing ceremony of the biennial Posidonia 2018 maritime trade show held at the Athens Metropolitan Expo last week. Dubbed “non-dom”, the special tax regime will apply to foreign nationals, including diaspora Greeks active Διαβάστε Περισσότερα
Taxpayers will be able to pay their dues to the state at banks counters without getting charged a fee until late August. The state had decided to pass on to taxpayers the commission banks used to charge it for tax payments, but taxpayers will be spared the 1.10-1.50-euro charge over the summer.
Spending on rent, mortgage payments and utility bills will not count toward the sum of card or e-banking payments taxpayers have to reach to be eligible for a tax discount of 1,900-2,100 euros per year, according to Finance Ministry officials.
The payment of utility bills using credit or debit cards will also count toward the tax discount for electronic transactions, according to sources, as the state appears unable to distinguish such payments from spending on goods and other services.
The Finance Ministry is planning to allow the concession of properties to the state for the payment of inheritance tax and other obligations to the state, while it appears the government will have to postpone the return of the capital gains tax on properties for another year.
The government will likely have to brace for a drop in transactions, in declared incomes and therefore in public revenues as a result of increases in indirect taxation and in salary and pension deductions for taxes and social security contributions.
The World Bank – and not the International Monetary Fund – is bringing back to the negotiating table with the country’s creditors the reduction of the income tax-free threshold to 5,000 euros per year in the context of welfare benefit restructuring.
The country’s tax administration is planning a new, much stricter fines system for businesses and the self-employed, given that the fines currently incurred by those who do not issue receipts amount to little more than a slap on the wrist, as the Finance Ministry’s inspectors realized during inspections conducted mainly this summer at tourism destinations. Διαβάστε Περισσότερα