Author: Europe News Desk

In a sweeping reform aimed at modernizing waste management and meeting European Union environmental directives, Greece has introduced significant changes to its landfill tax policy. These reforms signal a commitment to improving recycling rates, reducing landfill reliance, and fostering sustainable practices across the country. What Is the Landfill Tax? The landfill tax (τέλος ταφής) is an environmental tax levied on municipalities for waste disposal in landfills. Its primary purpose is to incentivize recycling and other waste management alternatives by making landfill use financially burdensome. Greece’s recycling rate stood at a mere 17.3% in 2022, well below the EU target of…

The tax season has officially begun in Bulgaria, and it’s time to gear up for the 2025 tax campaign. This year, nearly 6,000 taxpayers have already filed their returns in the first six days! Many are utilizing the National Revenue Agency’s (NRA) e-Services Portal, proving that digital solutions make tax filing easier and faster. If you’re unfamiliar with Bulgaria’s tax system, read on to discover the benefits and processes shaping this year’s campaign. What’s New and What You Should Know Maximize Your Refund with Tax BenefitsTaxpayers in Bulgaria who earned income in 2024 can lower their tax base by claiming…

As Belgium prepares for the mandatory rollout of the New Computerised Transit System (NCTS) Phase 5 on January 21, 2025, businesses involved in EU customs transit procedures need to prepare for significant changes. This transition introduces updated documentation requirements, new system protocols, and emergency procedures that require immediate attention. Here’s a comprehensive guide to help your business stay compliant, minimize disruptions, and transition smoothly. Key Changes: The Big Bang Deadline From January 21, 2025, all new transit declarations must be processed in the NCTS Phase 5 system. The previous version (Phase 4) will no longer be accepted, marking the end…

As an entrepreneur in Austria, navigating the complex world of taxes is crucial to your business’s success. Staying on top of deadlines not only helps you avoid penalties but also ensures smooth financial operations. Below, we explore key tax submissions and important information for entrepreneurs to remain compliant and well-informed. Key Tax Deadlines Each year, it’s essential to file your annual tax returns, including income, turnover, and corporate taxes, along with declarations for partnerships and community associations. The standard deadline for these submissions is typically set for April 30 of the following year. However, if you’re submitting electronically via FinanzOnline,…

Navigating the UK tax system can feel overwhelming, especially when it comes to “wasting assets.” These are assets with a limited lifespan that lose value over time, and understanding how they’re taxed is essential for making smart financial decisions. In this article, we’ll simplify the concept of wasting assets, explore their tax implications, highlight key exemptions, and share practical tips to help you plan your taxes with confidence. What Are Wasting Assets? A wasting asset is defined within the UK tax framework as an asset with a predictable lifespan of 50 years or less. As time progresses, these assets lose…

Closing a business is often a daunting task for entrepreneurs, laden with complexities and paperwork. However, Sweden’s Tax Agency, Skatteverket, is actively working to ease this burden. Their newly released report, “Identifying Measures to Simplify the Process of Closing Down a Business,” outlines essential steps to streamline the closure of business operations, all while addressing challenges like excessive documentation and lengthy processing times that many business owners currently encounter. A Roadmap for Business Owners The proposed initiatives by Skatteverket focus on reducing stress and saving both time and money for business owners. This allows them to concentrate on transitioning away…

Get ready for higher energy bills in 2025 as the government rolls out major tax hikes on gas and electricity. These changes, set to take effect in January and February 2025, coincide with the conclusion of the “tariff shield,” a protective policy aimed at capping energy costs for households and businesses. What Are the New Energy Taxes? These changes may lead to energy bill increases of up to 60% for households, with SMEs and other business sectors also experiencing substantial hikes. The government says these changes are needed to keep the budget in check and make energy prices match inflation.…

As concerns over housing escalate in Spain, Prime Minister Pedro Sánchez has initiated a sweeping plan aimed at tackling affordability issues affecting residents. Recent studies reveal that more than a third of Spaniards express worry about accessing affordable housing—significantly higher than the EU average, which rests at just 13%. Addressing the Housing Challenge In a country where housing prices in major cities can soar to over €7,000 per square meter, the issues of accessibility and affordability have reached a critical point. Approximately 35% of the Spanish population reports difficulty in securing affordable housing options. In response, Sánchez is targeting foreign…

  Up to 100% on Non-Resident Property Buyers In a bold move addressing Spain’s pressing housing crisis, Prime Minister Pedro Sánchez announced plans to introduce a tax of up to 100% on properties purchased by non-residents from non-EU countries, including the UK. This “unprecedented” policy aims to alleviate the country’s housing emergency and ensure that available properties prioritize local residents. During an economic forum in Madrid, Sánchez articulated the necessity of this measure, stating, “The West faces a decisive challenge: to prevent a society divided into two classes, the wealthy landlords and the impoverished tenants.” His comments highlight a growing…

Germany’s Mandatory E-Invoicing System: What to Expect in 2025 Germany is set to implement its mandatory e-invoicing system in a phased approach, starting January 1, 2025. During this initial phase, businesses engaged in domestic business-to-business (B2B) transactions will be required to accept structured electronic invoices that align with the EU e-invoicing standard EN 16931. While this requirement may seem quite straightforward, there are critical nuances that businesses must consider. Notably, Germany’s e-invoicing strategy presents significant differences when compared to mandates in other EU nations, such as Romania and Italy, as well as upcoming implementations in neighboring countries like France and…