“Leaving Taxation for Green and Digital Growth”, article in Business Partners Magazine: by Panagiotis S. Daveros, Group Tax and Customs Director, Hellenic Petroleum Group of Companies
Taxation is no longer just an old-fashioned fundraising and compliance mechanism, taxation has become a modern tool for overcoming challenges and planning for growth and development.
For example, in July 2021, the environmental crisis led the European Commission to present its “Fit for 55” climate package – aiming to reduce CO2 emissions by at least 55% by 2030 and to be the first climate-friendly continent. neutral by 2050 – including a proposal to revise the European directive on energy taxation. The proposal introduces new measures and tax rate structure, based on energy content and environmental performance, and will have a major impact on competition, energy cost, consumption patterns and technology uptake cleaner/sustainable sources of energy. Greece, located on the border of the EU, will be less competitive with neighboring countries not bound by such restrictions. Therefore, other sufficient measures and transition preparation time should be considered. The road to going green will not be short or free. In order to achieve the objectives of the reform, sufficient funding for the activities concerned must be ensured in order to also encourage initiatives for growth and behavioral change.
Moreover, digitization is fundamentally changing the way we do business and live. The impact on taxation is of paramount importance; the exchange of information on a global scale, as well as the introduction of e-books and e-invoicing (later e-audits) on a national scale, are the main drivers of the transition to a more transparent tax system and efficient, which accelerates speed and reduces costs.
And in all of this, taxation must be a leading political instrument, playing a key role in the ongoing transition.
The article was first published in Business Partners, the bimonthly magazine of the AMERICAN-HELLENIC CHAMBER OF COMMERCE (For more information, visit the following sitelink)
Hellenic Petroleum SA published this content on March 30, 2022 and is solely responsible for the information contained therein. Distributed by publicunedited and unmodified, on Mar 30, 2022 11:14:01 a.m. UTC.