Tax

The Greek Finance Ministry suspended operations of the Loutraki Casino at 8 a.m. on Thursday due for tax reasons. Sources point to the casino’s debt worth 2 million euros in taxes. The casino’s management said that it could not bear the high taxation imposed and was struggling to collect the money so as to open by the evening.

The Radical Left Coalition (SYRIZA) government is raining taxes until the Eurogroup meeting on November 9 in a last-ditch effort to close all open fronts. New measures will be discussed and – hopefully – be approved during a teleconference call with the Euro Working Group on Friday, November 6.

Alternate Finance Minister Tryfon Alexiadis invited Greek tax evaders to reveal their secret stash of undeclared funds kept abroad or in Greece by offering new incentives to declare these in a bill that will soon be tabled in Greek Parliament.

Parliament adopted its stance on a deal with Switzerland to make it harder for EU citizens to hide cash from the tax man in Swiss bank accounts, in a vote on Tuesday. Under the deal, the EU and Switzerland will automatically exchange information on the bank accounts of each other’s residents, starting in 2018.

Pierre Moscovici, European Commissioner for Economic and Financial Affairs, Taxation and Customs, responding to a query on VAT rate for private education he said that the government should impose either a 23% VAT or none.

No sooner did the government decide to expel Public Revenues General Secretary Katerina Savvaidou from her post, that the tax official announced that she would challenge the decision using all legal means and channels. The cabinet meeting held earlier had resulted in her expulsion and prompted Savvaidou’s anger in a lengthy announcement.

The European Commission ruled on Oct. 21 that Starbucks and Fiat benefited from illegal tax deals with the Dutch and Luxembourg governments, in cases with major implications for the taxation of multinational companies.

Thousands of Greek households are to be negatively affected when the new tax reforms are implemented by the government, with the first rush of panic already felt by taxpayers as well as the relevant services of the General Secretariat of Public Revenue. From Tuesday until October 30, it will be raining changes as demands for money to line state coffers grow.

The attack against the middle class which is sinking into debt continues since the government is not only preparing to abolish the law which allows property owners to assign the uncollected rents to the State, but it has not put into effect yet a law which will allow the property owner to give his property to the tax office so as to pay off his debts, a measure which would help many taxpayers.<

Current leader of main opposition New Democracy lashed out at SYRIZA saying that every day the lies they’ve said to the people are revealed.

“You were saying to reduce the income tax, to abolish the ENFIA tax after the elections and so many other lies”.

Mr. Meimarakis clarified that ND’s MPs will vote against the omnibus bill which is submitted to the Parliament.