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Taxation In Greece
Taxation in Greece is based on the direct and indirect systems. The total tax revenue in 2017 was €47.56 billion from which €20.62 billion came from direct taxes and €26.94 billion from indirect taxes. The total tax revenue represented 39.4% of GDP in 2017. Taxes in Greece are collected by the Independent Authority for Public Revenue (Ανεξάρτητη Αρχή Δημοσίων Εσόδων). Income tax Income taxation in Greece is progressive. Income tax is payable by all individuals earning income in Greece, regardless of citizenship or place of permanent residence. Permanent residents are taxed on their worldwide income in Greece. An individual in Greece is liable for tax on their income as an employee and on income as a self-employed person. In the case of an individual who is a ''permanent resident'' of Greece, their tax owed is calculated on their income earned in Greece and overseas. An individual whose income is only from a wage is not obligated to file an annual ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Independent Authority For Public Revenue
Independent or Independents may refer to: Arts, entertainment, and media Artist groups * Independents (artist group), a group of modernist painters based in the New Hope, Pennsylvania, area of the United States during the early 1930s * Independents (Oporto artist group), a Portuguese artist group historically linked to abstract art and to Fernando Lanhas, the central figure of Portuguese abstractionism Music Groups, labels, and genres * Independent music, a number of genres associated with independent labels * Independent record label, a record label not associated with a major label * Independent Albums, American albums chart Albums * ''Independent'' (Ai album), 2012 * ''Independent'' (Faze album), 2006 * ''Independent'' (Sacred Reich album), 1993 Songs * "Independent" (song), a 2007 song by Webbie * "Independent", a 2002 song by Ayumi Hamasaki from '' H'' News and media organizations * ''The Independent'', a British online newspaper. * ''The Malta Independent'', a Maltese ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Union
The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been described as a '' sui generis'' political entity (without precedent or comparison) combining the characteristics of both a federation and a confederation. Containing 5.8per cent of the world population in 2020, the EU generated a nominal gross domestic product (GDP) of around trillion in 2021, constituting approximately 18per cent of global nominal GDP. Additionally, all EU states but Bulgaria have a very high Human Development Index according to the United Nations Development Programme. Its cornerstone, the Customs Union, paved the way to establishing an internal single market based on standardised legal framework and legislation that applies in all member states in those matters, and only those matters, where the states have agreed to act ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Withholding Tax
Tax withholding, also known as tax retention, Pay-as-You-Go, Pay-as-You-Earn, Tax deduction at source or a ''Prélèvement à la source'', is income tax paid to the government by the payer of the income rather than by the recipient of the income. The tax is thus withheld or deducted from the income due to the recipient. In most jurisdictions, tax withholding applies to employment income. Many jurisdictions also require withholding taxes on payments of interest or dividends. In most jurisdictions, there are additional tax withholding obligations if the recipient of the income is resident in a different jurisdiction, and in those circumstances withholding tax sometimes applies to royalties, rent or even the sale of real estate. Governments use tax withholding as a means to combat tax evasion, and sometimes impose additional tax withholding requirements if the recipient has been delinquent in filing tax returns, or in industries where tax evasion is perceived to be common. Typical ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Turnover Tax
A turnover tax is similar to VAT, with the difference that it taxes intermediate and possibly capital goods. It is an indirect tax, typically on an ad valorem basis, applicable to a production process or stage. For example, when manufacturing activity is completed, a tax may be charged on some companies. Sales tax occurs when merchandise has been sold. By country In South Africa, the turnover tax is a simple tax on the gross income of small businesses. Businesses that elect to pay the turnover tax are exempt from VAT. Turnover tax is at a very low rate compared to most taxes but is without any deductions. In the Republic of Ireland, turnover tax was introduced in 1963 and followed by wholesale tax in 1966. Both were replaced in 1972 by VAT, in preparation for Ireland's accession to the European Communities, which prohibited both taxes. See also * Cascade tax * Goods and Services Tax * Gross receipts tax * Sales tax * Turnover tax in the Soviet Union * Value-added tax A valu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Exemptions
Tax exemption is the reduction or removal of a liability to make a compulsory payment that would otherwise be imposed by a ruling power upon persons, property, income, or transactions. Tax-exempt status may provide complete relief from taxes, reduced rates, or tax on only a portion of items. Examples include exemption of charitable organizations from property taxes and income taxes, veterans, and certain cross-border or multi-jurisdictional scenarios. Tax exemption generally refers to a statutory exception to a general rule rather than the mere absence of taxation in particular circumstances, otherwise known as an exclusion. Tax exemption also refers to removal from taxation of a particular item rather than a deduction. International duty free shopping may be termed "tax-free shopping". In tax-free shopping, the goods are permanently taken outside the jurisdiction, thus paying taxes is not necessary. Tax-free shopping is also found in ships, airplanes and other vessels traveling ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Evasion And Corruption In Greece
Corruption is a problem in Greece. Transparency International stated in 2012 that corruption had played a major role in causing the Greek financial crisis (although the crisis itself was triggered by the global financial crisis of 2007-2008, and Greece's economy had fared well for most of the period up to the aforementioned crisis ). Tax evasion was described by Greek politicians as "a national sport"—with up to €30 billion per year going uncollected, according to a 2012 estimate. A 2016 estimate indicated that between €11 billion and €16 billion per annum were not collectable. Other significant amounts were uncollected due to VAT (sales tax) fraud and smuggling. In 2016, the OECD, Greece and the European Commission launched a project to increase integrity and reduce corruption in Greece through technical empowerment of the Greek authorities for the implementation of Greece's National Anti-Corruption Action Plan (NACAP). Political corruption is also acknowledged as a signi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
