Tagged: tax

Tax hikes and card use helped primary surplus exceed its target

Excessive taxation and taxpayers’ increased use of plastic money in their payments to the state led to the creation of a primary budget surplus of almost 4.4 billion euros in 2016, according to provisional end-of-year figures released on Tuesday by the Finance Ministry. The taxes imposed in 2016, amounting to some 5 billion euros, sent […]

Tax makes hotel investments costlier in Greece

High taxation is preventing tourism investment in Greece, according to the latest study by the Institute of the Greek Tourism Confederation (SETE). Comparing Greece with Cyprus, the study showed that the amortization of a hotel investment in Greece requires more than 25 years of operation against 14 years in Cyprus during a crisis period. In […]

Tax debts to Greek state rise to more than 94 bln euros

More than half of the country’s taxpayers owe money to the cash-strapped Greek state, according to the Finance Ministry’s General Secretariat of Public Revenues. Fresh data show that 4.3 million taxpayers have accrued debts in excess of 94 billion euros, prompting authorities to take collection measures (seizures of deposits and assets) against 826,211 taxpayers. Old […]

Road tax deadline extended to Jan 9

The Finance Ministry on Friday granted a fresh extension on the payment deadline for the 2017 road tax. Motorists now have until the close of business on Monday, January 9, to pay the annual tax on their vehicles. The ministry stressed that since the majority of vehicle owners have already paid the tax, it will […]

Pop star Hatzigiannis cleared of tax dodging charges

An Athens has court acquitted Cypriot pop star Michalis Hatzigiannis of tax dodging charges. The case concerned a money transfer of 5.3 million euros to Cyprus in 2010-11. Before the court’s ruling, a prosecutor had recommended that he be cleared of the charge. The singer had claimed that money that was transferred into two of […]

Tax burden in Greece for 2016 amounts to 37.6% of the GDP

Greek citizens face a major tax burden, with a European Commission survey revealing that the burden climbed to 65.7 billion euros in 2016, from 64 billion euros in 2015. According to the European Commission’s figures, the tax burden increased to 37.6% of the GDP in 2016, from 36.4% In 2015 and 35.5% in 2014. The […]

Alexiadis confident of collecting €2.65bn from ENFIA tax

The Alternate Minister of Finance Tryfon Alexiadis appeared confident that the government will manage to collect 2.65 billion euros from the ENFIA real estate tax. In an interview on ERT1, the Alt. Minister also confirmed that the new ENFIA bills will be posted on Monday and that the ENFIA goal for 2017 will also be […]

About 1.8 million tax payers and businesses suspected of tax evasion

The Ministry of Finance has finalized an ambitious plan to tackle tax evasion which will use data supplied by banks and tax offices in conjunction with information drawn from social media accounts. About 1.8 million tax payers and businesses in Greece are suspected of tax evasion, based on information drawn from a variety of lists […]

ENFIA tax for 2016 in 5 installments – First one due in September

The Ministry of Finance has announced the ENFIA real estate tax for 2016 will be payable in five installments, rather than four, with the first one due in September. According to the Finance Ministry the government expects to collect the same amount via the ENFIA tax, therefore all rumors regarding hikes are false. The Ministry […]

Alexiadis warns that the efforts against tax evasion will increase

The Alternate Minister of Finance Tryfon Alexiadis announced that VAT revenue in the first five months of the year have exceeded budget targets and stressed that tax audits and inspections will increase in an effort to tackle tax evasion. Mr. Alexiadis, who made the statement on Vima 99.5 FM on Friday morning, explained that VAT […]

EWG President Weiser says Greek government chose to impose high taxes

The President of the Eurogroup Working Group, Thomas Weiser said the imposition of more taxes was a choice made by the Greek government in an interview to Greek financial website ‘Capital.gr’. ‘I hope the government has consulted with economic experts on whether these taxes can be collected’, he told the site. ‘The money can be […]

Τaxpayers to feel the ‘bite’ of the reforms on… June 1

Most tax hikes approved on Sunday evening in a closely watched vote in Greece’s Parliament are set for activation as soon as the end of the month, as the leftist Greek government passed twin tax and pension reform bills by the expected margin of 153 MPs in favor – the number of deputies out of […]

Gov’t asks for bank transaction tax

The Greek government presented to the representatives of the institutions its plan to impose a new tax for bank transactions of 1 per mille in order to avoid new stricter measures and cover the fiscal gap and the gap in social security. These issues will be discussed on Wednesday among Finance Minister Euclid Tsakalotos, Labour […]

Tax revenues miss budget target in January

Tax revenues missed their target by 183 million euros in January despite posting an annual increase (mainly thanks to a 10.8 percent year-on-year rise in takings from the ENFIA property tax), data compiled by the General Secretariat for Public Revenues showed on Thursday. Total tax revenues amounted to 3.526 billion euros in January 2016 from […]

Considerations for a retroactive tax of income declared for 2015

The government is debating whether to introduce new rates for the solidarity tax, by raising the ceiling from 8% to 10%, as well as setting the maximum income tax rate to 60%. According to a report in Ta Nea the government is also considering a retroactive tax on income for 2015, in order to cover […]