Thursday April 24, 2014 Search
Weather | Athens
21o C
15o 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. Greece’s 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 year’s incomes, which have yet to be taxed, not just next year’s.

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 week’s 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 Tsipras’s first major address since the party’s impressive showing in June’s general elections.

ekathimerini.com , Friday September 14, 2012 (21:16)  
Suspect in student´s stabbing alleged to have threatened other pupils
Greeks are the EU´s unhappiest workers, report finds
Injured American tourist taken off life support, said to be ´awake and alert´
Teen boy arrested in Thessaloniki drug bust
Benchmark up thanks to late blue chip rally
A late rally by blue chips including Piraeus and National offset the losses that the Athens bourse benchmark had been showing up to about half an hour before the end of Thursday's trading, w...
PPC to sell 500 mln euros of 3- and 5-year bonds
Greece's state-controlled electricity firm PPC confirmed on Thursday it would sell bonds worth 500 million euros ($691 million). The notes will be a combination of three- and five-year bonds...
Inside Business
SOCCER
4,000 officers to police Greek Cup final
Police says it will ban mass gatherings in central Athens amid heavy security measures planned for Saturday's Greek Cup final between Panathinaikos and PAOK at the Olympic Stadium. More than...
BASKETBALL
Never underestimate the Greek hoopsters
Olympiakos and Panathinaikos, who between them have won the last three European crowns, won again at home on Wednesday to take their Euroleague play-off series with Real Madrid and CSKA Mosc...
Inside Sports
COMMENTARY
Putting the party above the country
The case of Sabiha Suleiman, the Roma activist whose candidacy for the European Parliament was announced by SYRIZA only to be withdrawn shortly afterward, is an illustration of the leftist o...
EDITORIAL
Strong card in debt talks
Achieving a primary surplus and having it confirmed by the European statistical agency, Eurostat, is a significant success for Greece. There is no doubt that it came at a heavy price for a l...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Benchmark up thanks to late blue chip rally
2. 4,000 officers to police Greek Cup final
3. Suspect in student´s stabbing alleged to have threatened other pupils
4. Greeks are the EU´s unhappiest workers, report finds
5. PPC to sell 500 mln euros of 3- and 5-year bonds
6. Injured American tourist taken off life support, said to be ´awake and alert´
more news
Today
This Week
1. Putting the party above the country
2. Three missing from cargo ship that went down off Crete
3. Strong card in debt talks
4. Central Athens cleanup a sign of Greece's turnaround
5. Samaras meeting with Dimon key to Greek return to bond markets
6. Police on high alert for Greek Cup final in Athens on Saturday
Today
This Week
1. Greece startup leaders say they can’t break jobless cycle alone
2. Ground-breaking Good Friday mass signals thaw in Cyprus
3. Mayoral candidates clash over Athens mosque plans
4. Government looks to kick on
5. Greece offers to help find Turkish F-16 lost in 1996
6. EU struggles to unpick the knot of Russia-Ukraine gas logistics
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.