Thursday Jul 24, 2014 Search
Weather | Athens
32o C
23o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Tax-free threshold could be scrapped

Public officials are to spend the next few days crunching numbers in order to provide the government, which is steeling itself for stronger opposition to the latest austerity package, with the potential savings from scrapping the 5,000-euro income tax-free threshold.

The Finance Minister has asked officials to provide details on how specific income groups, such as pensioners, freelancers and farmers, would be affected by the move. Greeces tax-free ceiling was reduced from 12,000 euros last year. At that time, of 779,319 self-employed and freelancers, 457,386 declared an income of less than 12,000 euros per year.

It is estimated that if Greece scraps the threshold altogether, as the International Monetary Fund has proposed, the government would raise an extra 1.5 billion euros per year. The coalition has the option of applying the measure to this years incomes, which have yet to be taxed, not just next years.

The IMF has proposed the creation of four income tax brackets as part of an overhaul of the taxation system. Anyone earning up to 22,000 euros would be taxed at 18 percent, those making 22,000 to 45,000 at 35 percent, those with incomes of 45,000 to 100,000 would pay 40 percent in tax and anyone making more than 100,000 euros would be taxed at 45 percent.

PASOK leader Evangelos Venizelos is due to brief all of his party bodies about the latest developments on Tuesday. All three coalition leaders are concerned about unrest within their parties due to the unpopularity of the measures. Venizelos hopes that next weeks briefing will help avert any possible rebellion within PASOK.

Alexis Tsipras, the leader of leftist opposition party SYRIZA, is expected to attack the measures during a speech at Thessaloniki International Fair today. It will be Tsiprass first major address since the partys impressive showing in Junes general elections.

ekathimerini.com , Friday September 14, 2012 (21:16)  
Man gets suspended prison term for animal cruelty
Presidential election will not lead to snap elections, Samaras tells ND deputies
Medical assistance for Acropolis visitors
Samaras and Venizelos meet amid internal strife within coalition
Eurozone bonds yields rise on strong data, dulling QE prospects
Eurozone bond yields edged up on Thursday as investors saw better-than-expected economic data as quelling the need for the European Central Bank to loosen monetary policy further. Germany - ...
PPC approves $243 million wind investment in Greece
Public Power Corp., Greeces biggest electricity provider, approved a 180 million euro ($243 million) investment for wind projects in the north of the country and a tender for a smaller faci...
Inside Business
TRACK & FIELD
Athens, the Marathon capital of the world for good
Paco Borao, the man who restored Athens as the Marathon capital of the world with the establishment at the Olympic Sports Center of the headquarters of the International Association of Marat...
TRACK & FIELD
Pole vault record on same day as three doping cases
Greek track and field had a mixed weekend, as on the same day as Katerina Stefanidi matched the national record in pole vault as well as the leading result in Europe so far this season, thre...
Inside Sports
COMMENTARY
When evaluation is seen as useless
The reactions toward the governments plans for an evaluation of public sector workers are completely unsurprising. Civil servants and not just the unions that represent them abhor the m...
EDITORIAL
Playing the good guy
There is a part of the government that is striving to fulfill the commitments that Greece has undertaken toward its foreign creditors, most of which pertain to reforms that are absolutely es...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Man gets suspended prison term for animal cruelty
2. Eurozone bonds yields rise on strong data, dulling QE prospects
3. PPC approves $243 million wind investment in Greece
4. Presidential election will not lead to snap elections, Samaras tells ND deputies
5. Medical assistance for Acropolis visitors
6. Samaras and Venizelos meet amid internal strife within coalition
more news
Today
This Week
1. Quadriplegic woman on life support 'dies due to unpaid power bills'
2. Democracy 'retreated' during crisis, says Papoulias
3. Family of deceased woman on life support says application for 'special status' had been filed with PPC
4. Efforts continue on Crete to find 'Sifis' the crocodile
5. Medical assistance for Acropolis visitors
6. Samaras and Venizelos meet amid internal strife within coalition
Today
This Week
1. The cost of excellence
2. Ex-Credit Suisse banker taps lesson for Greek rebound
3. Greece seen in third bailout as bonds not enough, economists say
4. Climber dies in Mount Olympus fall
5. Greek banks able to tap investors after stress tests, HFSF Says
6. Greek sovereign debt at 174.1 percent of GDP in first quarter
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.