New tax bill improving transactions, reducing fines tabled in parliament
- Written by E.Tsiliopoulos
A draft law reforming the Code of Taxation Process was tabled in parliament on Tuesday night, following the conclusion of public consultation.
It upgrades the Greek taxation system utilizing new technologies, improves technical issues related to payment of debts and rationalizing the process' rules, and foresees up to a 50% reduction in fines if the taxpayer does not contest the result of audits and accept the additional tax levelled.
In addition, it also includes the exclusion of 1 million taxpayers from submitting annual tax returns if their income is derived exclusively from wages and pensions. In this case, the Independent Authority for Public Revenue (AADE) will autofill the annual return and the taxpayer will have the opportunity to object before the tax deadline.
Commenting on the bill, National Economy and Economics Minister Kostis Hatzidakis said the new Code of Taxation Process will "resolve decades-long outstanding issues and allow us to make significant process toward enforcing transparency in terms of the contact and transactions a taxpayer has with tax authorities."
Related items
- Lamia: 63 cases of food poisoning from school lunches
- Higher global temperatures causing Caretta turtles to lay eggs sooner
- Mitsotakis: If North Macedonia does not respect the Prespa Agreement, their path to the EU will remain closed
- EU Commission sees Greece's growth rate at 2.2% in 2024 and 2.3% in 2025
- Menidi: Forty year old woman stabbed by enstranged husband in the middle of the street - Police on manhunt
Latest from E.Tsiliopoulos
- Lamia: 63 cases of food poisoning from school lunches
- Higher global temperatures causing Caretta turtles to lay eggs sooner
- Mitsotakis: If North Macedonia does not respect the Prespa Agreement, their path to the EU will remain closed
- EU Commission sees Greece's growth rate at 2.2% in 2024 and 2.3% in 2025
- Menidi: Forty year old woman stabbed by enstranged husband in the middle of the street - Police on manhunt