Theocharis for taxation of groups and multinationals: Total revenue expected at EUR 95 million

We are not only concerned with the basis of the tax pyramid, but also with its peak, the Deputy Minister of Finance, Mr, told the House during the debate on the bill on multinational and domestic groups. This bill, noted Mr. Harry Theocharis brings “a presumption of minimum taxation for multinational companies” and this is apparently a “political initiative of the Government”. He noted that “the negotiation in the OECD has lasted 10 years and our country over time had an active role.” He stressed that with this bill “we do not give revenue to any parent company, in whatever country it is also, no choice is given either as to the size of turnover and the exceptions that come from the OECD Agreement and the European Directive” The distinctive advantages that exist concern safe ports, but we do not practice them as much as Pylon II. Clearly, Mr Theocharis said “ADE has enough work to do after the adoption of this plan” but “the administration of the Ministry and the Authority, they do not leave things to their fate, what is being voted on is implemented and that will also happen for the taxation of the large groups” The Deputy Minister estimated that the revenue generated by this bill “is for the 19 domestic groups at 30m euros and 45m euros from 900 to 950 subsidiaries of multinationals operating in our country” supplementing that “these calculations are a static and not dynamic model”, as the remaining tax revenues resulting are not taken into account. Mr.Theocharis also referred to the performance of the overall measures to combat tax evasion at all levels, which have been taken and giving evidence of their performance he said that “in this battle we should all co-operate as a “college of good”, so that the majority of law-abidings would impose legitimacy on the rest of them.” The Deputy Minister pointed out that there is an increase in the controls of ADE and those involved who are charged with ‘variances’ do not make appeals, but accept them. With this bill, Mr Theocharis said the immediate disposal of the seized is accelerating. A provision that solves a problem in their management resulting from the success of the control mechanisms. He commented that the fines imposed by all tax administrations are received by 5% to 10%, we are at the 10% rate, i.e. we are at the top end of this revenue and we may be at an even higher level in real terms as ADE does not count on cases that make use of the possibility of complementary-modifying as long as the audit takes in order to obtain more favourable treatment. With information from APR-APM