Firms fleeing high taxes to face inspections

13 August 2016
1121 Views

Tax authorities are to begin more intensive checks on companies registered in Bulgaria and Cyprus but which are owned by Greeks to see if they are actually active in Greece and only based abroad to take advantage of much lower corporate taxation.

Sources told DailyHellas that most such companies in Bulgaria show zero turnover in the host country and do not employ anyone.

A high-ranking government official said that Greece intends to sign agreements with Bulgaria and Cyprus soon so that it can carry out in-depth investigations into these types of companies.

According to sources in Athens, discussions with Bulgarian and Cypriot officials have already begun. The government hopes that the agreements can be signed by the end of September.

The Finance Ministry will also ask for the cooperation of tax authorities in the two countries so that Athens can soon launch probes into specific companies for which there have been allegations of tax evasion.

The government is also planning to submit a bill to Parliament that would allow for the imposition of large fines on companies that are found to have set up headquarters abroad but which only do business in Greece.

The government official told DailyHellas that the coalition’s aim is to stop this practice.

You may be interested

Visit the Greek island in the 100 most impressive list in the world
GREECE
shares12 views
GREECE
shares12 views

Visit the Greek island in the 100 most impressive list in the world

Panos - Aug 05, 2021

Ios was recently included in the list of the most impressive islands in the world on the news site Insider.com.…

Mitsotakis: The critical infrastructures endured – The houses will be rebuilt
GREECE
shares14 views
GREECE
shares14 views

Mitsotakis: The critical infrastructures endured – The houses will be rebuilt

Panos - Aug 05, 2021

The Greek Prime Minister, Kyriakos Mitsotakis and the Deputy Minister of Civil Protection, Nikos Hardalias made statements after the extraordinary…

Ancient Olympia: The International Olympic Academy is safe for now – Battle with the fire resurgences (video)
GREECE
shares18 views
GREECE
shares18 views

Ancient Olympia: The International Olympic Academy is safe for now – Battle with the fire resurgences (video)

Panos - Aug 05, 2021

A new alarm for Ancient Olympia as, early in the morning, a new front emerged, heading towards the facilities of…

Leave a Comment

Your email address will not be published.