Sunday April 19, 2015 Search
Weather | Athens
14o C
09o 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)  
Panousis skeptical about law allowing early prison release
Spike in Syrians seeking asylum in Greece
Coalition ponders next move as talks with lenders resume
Potami not seeking cooperation with other parties, says leader
US Treasury secretary urges Greece to reach debt deal
Treasury Secretary Jacob Lew (photo) is urging Greece to reach a deal with its creditors, warning that a default would "create immediate hardship for Greece" and damage the world economy. Gr...
Greece poised to sign gas deal with Russia, says German weekly
Greece is poised to sign a gas deal with Russia as early as Tuesday which could bring 3-5 billion euros into depleted government coffers, German magazine Der Spiegel reported, citing a senio...
Inside Business
BASKETBALL
Triumph for Olympiakos at Barcelona
Olympiakos produced its best away performance so far this season to defeat host Barcelona 76-63 on Friday and snatch the home advantage in the Euroleague play-offs. The Reds have now tied th...
BASKETBALL
Another heavy loss for improved Panathinaikos in Moscow
Panathinaikos raised its performance since Tuesday but still suffered a 20-point loss at CSKA Moscow on Thursday to find itself trailing 2-0 after Game 2 of the Euroleague play-offs. Having ...
Inside Sports
COMMENTARY
The price of compromise
The representatives of the middle-class political world made plenty of compromises over the years and now we are paying the price. The current governments appointment of failed politicos, u...
EDITORIAL
Premiers choice
Prime Minister Alexis Tsipras was not elected by the 4 percent that has traditionally formed the hard core of SYRIZA supporters. Greeks may be desperate and exhausted but they still have the...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Panousis skeptical about law allowing early prison release
2. Spike in Syrians seeking asylum in Greece
3. Coalition ponders next move as talks with lenders resume
4. Potami not seeking cooperation with other parties, says leader
5. US Treasury secretary urges Greece to reach debt deal
6. Greece poised to sign gas deal with Russia, says German weekly
more news
Today
This Week
1. Coalition ponders next move as talks with lenders resume
2. Potami not seeking cooperation with other parties, says leader
3. Spike in Syrians seeking asylum in Greece
4. Panousis skeptical about law allowing early prison release
5. Back to the beginning
6. US Treasury secretary urges Greece to reach debt deal
Today
This Week
1. Quarantine for Greek bank subsidiaries in neighboring countries
2. Greek finance ministry hits back at German newspaper report
3. Time to get serious
4. 'Civil war' brewing over disputed Greek goldmine
5. Putting off payments led to Q1 budget primary surplus
6. In the shadow of Greek prison, locals dread Golden Dawn trial
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2015, H KAΘHMEPINH All Rights Reserved.