Tax bill on the table at talks with creditors

The tax landscape in Greece is set to change beyond recognition as of next year, with dozens of interventions that will affect individuals and enterprises, which are aimed at reducing the burden on taxpayers and creating a business-friendly environment.

Through a 72-article bill that will be tabled in Parliament on October 15 the Finance Ministry intends to adjust the regulations on income taxation, while it is possible clauses on the use of cards will be included too.

The changes planned are to be determined at the two meetings Minister Christos Staikouras will have with the creditors’ mission chiefs in Athens on Monday and Wednesday.

On the negotiating table will be all the new regulations the government has in the pipeline, from the new tax rates and brackets and the standard settlement mechanism for dues, to those concerning the transfer of tax residence to Greece for individuals and corporations active abroad.

Although it appears that Athens and its creditors have reached a provisional agreement on the changes to be implemented, the cost of the measures has not yet been assessed, nor the degree to which they will burden next year’s budget.