Hefty fines return for tax receipt offenders

20 July 2016
717 Views

The Greek Finance Ministry is mulling over reintroducing hefty one off fines for businesses failing to issue receipts to customers. The government had banned imposing independent fines for the violation of issuing tax receipts 1o months ago, which, according to tax auditors, had emboldened many businessmen who simply stopped issuing receipts altogether. The 50% fine on businesses for not including VAT rates in the price of goods was a failed policy, due too the extremely low fine for failing to do so. According to sources, the government wants to strike a balance between imposing high enough fines in order to avert businesses from violating the law and then being able to pay them, and on the other had not too high rendering the fines effectively non-collectible by tax authorities. The plan is possibly to revert to the previous fine scheme, which provided for a 250 Euro fine for every single instance for failing to issue a receipt if the culprit had simple books; a 500 Euro fine for every single instance of tax receipt issuing if the offender had double books; and a fine commensurate to 40% of the transaction if it exceeded 5,000 Euros.

You may be interested

Greece ranked among top 8 honeymoon destination on Pinterest
GREECE
shares25 views
GREECE
shares25 views

Greece ranked among top 8 honeymoon destination on Pinterest

Panos - Apr 20, 2021

Greece is ranked among the top 8 honeymoon destinations in the world by users of the Pinterest platform, according to…

How a BA pilot got sucked out of a cockpit window, but lived to tell the tale
WORLD
shares24 views
WORLD
shares24 views

How a BA pilot got sucked out of a cockpit window, but lived to tell the tale

Panos - Apr 20, 2021

Like all airlines, British Airways has experienced a dreadful 2020, dogged by a virus that has devoured the demand for…

Underfloor central heating from 2700 B.C. in Minoan Crete
GREECE
shares21 views
GREECE
shares21 views

Underfloor central heating from 2700 B.C. in Minoan Crete

Panos - Apr 20, 2021

From 7000 BC they built cylindrical houses with flat or vaulted roofs, at the top of which was an opening.…

Leave a Comment

Your email address will not be published.