Tax

The government is reportedly preparing a tax relief package ahead of the general election that is set to cost the state up to 4 billion euros per annum, while industrialists are warning of a likely temporary recession for the economy in the case of an extended pre-election period.

A package of tax measures for 2020, which includes the reduction of the tax-free ceiling and a series of rate reductions, will shift the burden of 2 billion euros from about 500,000 taxpayers with a personal income of 22,000 euros or more per year to about 4 million people with takings between 7,000 and 22,000 euros/year from salaries, pensions or agricultural activity.

Even without the confirmation of a report issued by the OECD, everyone knows that Greece is among the most heavily taxed countries.

According to the data released yesterday 41 percent of employees' salaries go to taxes and insurance contribution and the percentage is rising.

Taxpayers in Greece have been seeing their incomes shrink each year due to the taxes and social security contributions that employers and workers have to pay, and Organization for Economic Cooperation and Development (OECD) data point to the growing deductions of crisis-riven Greeks, in contrast to the trend in other member-states.

The Finance Ministry's blueprint for the adjustment of properties' taxable rates (known as "objective values") provides for hikes to the zone rates in the center of Athens and reductions in less well-off areas of the capital.

The discussion about tax policy almost always ends in a discussion about overtaxation. However, well-justified anger and frustration at the incredible burden placed on Greek taxpayers tends to overshadow the significant inroads that have been made by the tax administration authorities.

The pre-election period and the uncertainty among citizens could create the conditions for a new generation of overdue arrears, and generally harm efforts to promote a tax-paying culture, according to the business plan of the Independent Authority for Public Revenue.

Turkey should impose a tax whose revenue will go towards stray animals and be used to cover their expenses because the issue cannot be solved through individual efforts anymore, the head of the Ankara Chamber of Veterinary Surgeons has said.

Greece's conservative opposition Monday requested that the head of the country's anti-money laundering authority, Anna Zairi, appear before the Parliament's Institutions and Transparency Committee to respond to questions about the alleged scandal involving government aide Manolis Petsitis, as well as the reported dismissal of a senior official investigating the case.

The tax administration is embarking on a series of inspections of wealthy taxpayers and major enterprises. It is primarily targeting cases going back over the last three to five years that are of greater tax collection interest due to the size of incomes to be probed and the increased likelihood of dues payment.