Greece's Economy and Finance Minister Kostis Hatzidakis announced that revenue from combating tax evasion will help reduce taxes. Highlighting a 10.3% increase in VAT revenue this year, he affirmed the government's commitment to lowering tax burdens. Key strategies in the ministry's plan include reducing social security contributions, abolishing the entrepreneurs' levy, and lowering VAT rates to address social inequities and boost public revenues.
Tag: tax burden
Since early 2024, Greece’s tax authority, AADE, has been employing digital technologies to detect tax evasion, identifying 1,100 individuals with income discrepancies. AADE has warned these individuals of upcoming audits, and failure to justify discrepancies may result in heavy taxes, fines, and surcharges. Digital tools now allow AADE to access comprehensive financial data to ensure expenses are justified. Recent efforts also include a major crackdown on Chinese-owned businesses involved in systemic tax evasion.