No re­ceipt? 250-euro fine

Kathimerini English - - Focus - SOTIRIS NIKAS

The Fi­nance Min­istry is in­creas­ing fines for com­pa­nies that do not is­sue re­tail re­ceipts in an ef­fort to bol­ster state rev­enues. The in­creased penal­ties will start ap­ply­ing as of Mon­day, July 25, so as to max­i­mize the ef­fect on pub­lic cof­fers from sum­mer in­spec­tions.

Tax of­fi­cials who iden­tify first­time vi­o­la­tions in the is­suance of re­ceipts at a com­pany will be able to im­pose fines that come to half of the value-added tax due but no less than 250 eu­ros, with the min­i­mum thresh­old ris­ing to 500 eu­ros for larger com­pa­nies. Fines will be dou­bled in case of a re­cur­rence of the of­fense within five years and quadru­pled in the third in­stance.

The aim of the mea­sure is to cor­rect a long-stand­ing prob­lem. To date, for ex­am­ple, if a cafe­te­ria was found to have failed to is­sue re­ceipts amount­ing to 20 eu­ros of VAT, then the fine in­spec­tors should im­pose would come to just 10 eu­ros. This acted as an in­cen­tive for en­trepreneurs to avoid is­su­ing re­ceipts on a reg­u­lar ba­sis. Now this fine can be no smaller than 250 eu­ros, re­gard­less of the of­fense.

Min­istry data, mean­while, showed yes­ter­day that the ex­pired debts of tax­pay­ers to the state in­creased by an­other 300 mil­lion eu­ros in June to reach 89.6 bil­lion eu­ros from 89.3 mil­lion in end-May. In the first six months of the year the debts have risen by al­most 10 bil­lion eu­ros.

about the causes that led the Greek bank­ing sys­tem to its cur­rent state af­ter a pe­riod of re­mark­able growth be­tween 1990 and 2008. Af­ter that pe­riod, the lo­cal lenders faced the chal­lenge of the cri­sis, which came at a heavy cost.

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