Taxation News – 7th Issue (September 2015)-Tax Legislation
Amendments to the Tax Legislation, Significant Amendment to Goods and Services Tax Bill, a New Fiscal Procedure Code in Romania
Greece
Amendments to the Tax Legislation regarding:
On July 15th 2015, the Law 4334/2015 introduced significant amendments to tax provisions, the most
important of which are described herein
A. Insurance Premiums
The tax rate on all insurance premiums, except from life and fire insurance premiums, is increased from
10% to 15%. Any provision regarding exemptions from the tax on insurance premiums is abolished, except
from life insurance premiums for life contracts over 10 years duration. Specifically,
- in General Liability branch, the premium tax is increased from 10% to 15%
- in car insurance branch, all risks, excluding fire, are raised from 10% to 15%, the fire coverage
remains at 20% and the civil liability is increased from 10% to 15% - in fire branch the premium tax remains at 20%
- in health branch, the premium tax of 10% is increased to 15%
- in accident branch the premium tax from 10% is increased to 15%
- in shipping and aircraft branch the premium tax rises to 15%
- in transportable commodity branch the premium tax is raised to 15% from 10% regarding importation
to Greece and 0% regarding exportations - in the other branches the premium tax is increased from 10% to 15%
B. Value Added Tax
C. Luxury Taxation
D. Special Solidarity Contribution
Amendments to the tax Legislation with regards to:
A. Income Tax Code
B. Value Added Tax, and
C. Shipping Taxation
D. Regulation of 100 Installments (doses)
E. Debt Collection
F. Control of Financial Statements
Poland
Significant Amendment to Goods and Services Tax Bill New Challenges for Electronic and Petrol Business
Romania
Romania will have a New Fiscal Procedure Code starting from 1 January 2016
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