The possibility of taking new support measures was left open by the Minister of Finance, Christos Staikouras, from the floor of Parliament.
He stressed that “whatever fiscal space is created will be returned to society and I estimate that it will be created.”
Speaking at a joint meeting of the Parliamentary Committee on Institutions and Transparency and Financial Affairs on the actions of independent public revenue authority AADE, he reiterated that horizontal measures such as the abolition of the excise tax on fuel are not “socially just measures.”
He also stressed that the country’s exit from the enhanced supervision regime, the early repayment of the IMF and the lifting of capital restrictions show that Greece is returning to European normalcy.
AADE projects through the Recovery Fund
From there on, referring to the projects of AADE that will be funded by the Recovery and Resilience Facility, the minister announced in advance:
– The administrative procedures for VAT refunds for companies are simplified, through the implementation of automated VAT refund procedures, electronic submission and the risk analysis process for refund applications.
-The use of AADE’s internal data is upgraded and new tools are introduced in order to improve the collection of public revenues, increase the efficiency of tax audits and reduce smuggling through the development of a common metadata repository, the provision of appropriate software solutions, tools and techniques artificial intelligence and the use of machine learning for data mining.
-The digital transformation of tax audits is promoted, with the parallel reorganization of the audit centers.
-A new framework is being created to curb smuggling (tobacco, alcohol, energy) by modernizing surveillance systems, control procedures and customs equipment, and upgrading information systems to obtain information from European / national databases.
-The platform for keeping electronic books, electronic invoicing, a special website for informing taxpayers, and the interconnection of all cash registers with its information systems are fully operational, in order to facilitate the automatic completion of tax returns and efficiency of tax audits.
According to the minister, the aim of the actions is to encourage employment, attract investment and strengthen the payment culture. Referring to the work of AADE in 2021, he stressed that the implementation of its business plan was for the benefit of business citizens and businesses.
Latest News
ELSTAT: Greek Health Expenditures Reach €5.89 Billion in 2022
Finally, healthcare financing as a percentage of GDP decreased to 8.5% in 2022 from 9.18% in 2021, as per the Health Accounts System report.
Sonoco Paper Mill Plants Close After 30 Years in Greece
The shut down of the two paper mills in northern Greece comes a week after a glass plant closed in Athens
BoG: Private Deposits Down by 1.068bln Euros in Feb. 2024
Corporate deposits decreased by 912 million euros, compared to a decrease of 3.167 billion euros in the previous month
Greeks’ Buying Power Second Lowest in the EU
Greeks’ purchasing power is under pressure, ranking 26th among 27 EU member states.
Greek FinMin Says Digital Work Card Tackling Undeclared Work
Greece's recently launched digital work card aimed at tackling undeclared labor has already started to produce results, said Economy and Finance Minister Kostis Hatzidakis
MSC Cruises: More than 400 Visits to Nine Greek Destinations
MSC Cruises, a subsidiary of international shipping line Mediterranean Shipping Company S.A, will be sailing to Greek ports as of this month, expanding operations in the region year-round
Eurostat: Greece Among Cheaper Hourly Labor Cost Zones
In contrast, the countries that posted the highest hourly labor costs are Luxembourg (53.9 euros), Norway (51.9 euros), Iceland
GSEVEE: Economic Sentiment Indicator in Greece Down in Q2 2023
The drop follows a significant uptick in the ESI in the second half of 2022 (69.5 units) and a slight decline in the first half of 2023 (66.7 units)
Manpower Report: Sectors in Greece that Have Achieved Full Gender Equality in the Workplace
Greece surpasses this with 45%, showcasing progress but also room for improvement. Sectors like Consumer Goods and Services lead with 69% reporting full equality globally
Bank of America (BofA): Three Reasons Greek Economy Outperforms EC Average
BofA projects growth of 1.1% in 2024 and 1.7% in 2025, compared to forecasts for eurozone growth at 0.4%/1.1%, respectively