Taxation in France

Over one million of self-employed are on high alert after the announcement of changes in the social security contributions according to the new draft law on social security system reforms.

Even those who declare a 20,000euros annual income, they will be called to pay higher contributions to the insurance organization for the self-employed (OAEE).

The state budget for 2016 discussed yesterday until early morning on Sunday in the Greek parliament.

After a 12-hour debate, the budget was voted in with 153 votes in favor, and 145 against, with two MPs being absent.

The new Greek budget for 2016 hopes to save 5.7 bln euros. From these, 3.2 billion euros will be in new measures, whereas 1.5 bln euros will be yielded from austerity measures that have been voted on in 2015 or will be voted on by the end of the year.

Greek wage earners managing to scrape 1,000 euros per month in earnings will no longer be privy to tax breaks according to the third bailout. The new tax index hopes to line its coffers by 300 million euros by attacking the wages of lower income earners who manage to scrape 12,000 euros per annum – and possibly even 9,000 euros if necessary.

Upon their return home from their holidays Greeks will be facing the bitter realities of bloated bills and taxes. Here is a list of what Greek households should expect to pay from September onwards:

-Unified property tax (ENFIA). It will be paid in 5 instalments (the first one in October), instead of last year’s 6-7 instalments.

Greeks had better prepare to dig deep in their pockets come September, as those dreaded bills are expected to be bloated. The Single Property Tax (ENFIA), which the current government promised to abolish will remain intact, as it’s goal is to collect 2.65bln Euros. Here is a rundown of what Greeks are expected to pay:

 Of the 7.9 bln euros of measures submitted, 7.3 bln concerns taxation and social security contributions

By Prokopis Hatzinikolaou & Sotiris Nikas

 State debts have increased by 1.1 billion euros in the first four months of the year, including tax rebates

By Sotiris Nikas

By Prokopis Hatzinikolaou

Greece?s social security funds are experiencing a dramatic decline in revenues, partly due to the drop in state funding, according to data from the State General Accounting Office released on Monday.

An Albanian minister said the budget may have to be revised to take account of lower than expected revenues.

Lower prices for key export commodities such as petroleum and minerals reduced growth in revenues during the first three months of 2015, the Deputy Finance Minister, Irena Beqiraj, said on Wednesday.