The Greek finance ministry's latest bill on taxation, which is expected at the end of the month, considerably strengthens existing laws to deter tax evasion and allows for the immediate closure of businesses found not to have fulfilled their tax obligations.
Defending its initiatives, secretary general of the finance ministry's economic crimes unit (SDOE) Yannis Kapeleris underlined the fact that certain businesses such as nightclubs and bars in Greece are continuing to flout tax regulations, as recent checks conducted by the unit demonstrate. During a recent inspection, SDOE inspectors immediately closed six bars and nightclubs alleged to have evaded VAT by not issuing receipts to customers.
However, the Greek tax authorities have themselves been heavily criticized for their delay in reimbursing several billions of euros in VAT to companies. The Secretary of State for Regional Development and Competitiveness Panagiotis Rigas assured individuals that the question of VAT reimbursement by the state to companies would be settled shortly.
Alluding to the government's anti-tax evasion measures as unsubstantial, New Democracy, the Greek conservative opposition party, explained that what is now necessary to counter tax fraud is the introduction of a new tax system, which is simple, stable and which serves to stimulate development and is socially just.
The Greek government has been forced to ramp up tax collection efforts as a condition of its EU/IMF funded bail-out in 2010. A tax amnesty agreed last year is expected to collect an additional EUR30bn in taxes.
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Defending its initiatives, secretary general of the finance ministry's economic crimes unit (SDOE) Yannis Kapeleris underlined the fact that certain businesses such as nightclubs and bars in Greece are continuing to flout tax regulations, as recent checks conducted by the unit demonstrate. During a recent inspection, SDOE inspectors immediately closed six bars and nightclubs alleged to have evaded VAT by not issuing receipts to customers.
However, the Greek tax authorities have themselves been heavily criticized for their delay in reimbursing several billions of euros in VAT to companies. The Secretary of State for Regional Development and Competitiveness Panagiotis Rigas assured individuals that the question of VAT reimbursement by the state to companies would be settled shortly.
Alluding to the government's anti-tax evasion measures as unsubstantial, New Democracy, the Greek conservative opposition party, explained that what is now necessary to counter tax fraud is the introduction of a new tax system, which is simple, stable and which serves to stimulate development and is socially just.
The Greek government has been forced to ramp up tax collection efforts as a condition of its EU/IMF funded bail-out in 2010. A tax amnesty agreed last year is expected to collect an additional EUR30bn in taxes.
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Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.
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Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.