Tuesday September 2, 2014 Search
Weather | Athens
29o C
23o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
No change to receipt collection system

 Finance Ministry announces spending at supermarkets, tavernas and fuel stations will count in 2014

By Prokopis Hatzinikolaou

Following months of wrangling and with the year already in its 10th week, the Finance Ministry finally reached a decision on Friday on which receipts taxpayers should collect for tax purposes in 2014. The decision signed by Deputy Minister Giorgos Mavraganis provides for no change to the system used in 2013, given that receipts from supermarkets, fuel stations, tavernas and so on will fully count toward the sum taxpayers are required to collect for the year.

The only difference from 2013 is that for 2014 taxpayers will only have to collect receipts equal to just 10 percent of their annual income (up to the maximum level of 10,500 euros), against 25 percent for 2013 incomes.

For taxpayers to enjoy the tax exemption of 2,100 euros from their annual income to the full, they will need to collect one-tenth of their income in receipts, otherwise they will be forced to pay a fine equal to 22 percent of the sum they have failed to cover with their collected receipts. For example, a taxpayer with an income of 20,000 euros would require receipts totaling 2,000 euros for 2014, while for 2013 they required receipts of 5,000 euros. The 22 percent penalty means that a taxpayer with an income of 20,000 euros and receipts of 1,000 euros in 2014 will be forced to pay a fine of 220 euros.

Among the receipts that count for tax purposes are those from spending on food, beverages, tobacco, apparel, house repair and maintenance services and materials, durable goods (such as household items), fuel for and maintenance of vehicles, recreation and entertainment, hotels, cafeterias, restaurants and tavernas. Not included are receipts for public transport services, utilities, telecommunications, pay TV, road tolls, private schools and property rentals, among others.

Details of 2013 incomes and receipts collected last year will have to be submitted electronically to the Finance Ministry by June 30 at the latest.

The receipts are only taken into account for the calculation of the taxable income if they are included in an income declaration submitted in time; they are added up for spouses and divided between them depending on the declared and taxed income.

ekathimerini.com , Friday March 7, 2014 (22:26)  
Greece needs private debt overhaul, Piraeus Bank CEO says
Cheap energy pulls down eurozone producer prices in July
Greece sells 1.14 bln euros of 6-month T-bills, yield eases
New committee formed to assess progress of deregulation in closed-shop professions
Navys Prometheus brings doctors to remote Aegean islands
Naval support ship Prometheus will be touring the Dodecannese in the eastern Aegean from September 3-11 in order to provide residents of remote islands with primary healthcare, the Hellenic ...
Police seeks identity of woman injured in Thessaloniki hit-and-run
Police on Tuesday appealed to the public for help in identifying a woman who was hit by a motorcycle and left suffering serious injuries in Thessaloniki in August. The accident occurred on t...
Inside News
Grateful Saviola thanks Olympiakos, joins Verona
Former Argentina international Javier Saviola has thanked Greek champions Olympiakos for the "beautiful moments" during his season-long stint in Greece as he left the club to join Serie A ou...
SOCCER
Greece defender Papadopoulos fires parting shot at Michel
International defender Avraam Papadopoulos suddenly quit Olympiakos on Monday to join Turkish club Trabzonspor, and fired a parting shot at Olympiakos manager Michel putting the blame on the...
Inside Sports
COMMENTARY
Politicized archaeology
Let us suppose that archaeologists discover that the tomb uncovered in Amphipolis was not the resting place of Roxana or Nearchos, but of Alexander the Great. Let us assume, that is, that ar...
EDITORIAL
Moderating expectations
Politics is, to a great extent, all about managing expectations, and anyone who raises that bar too high or too fast is at serious risk of disappointing and losing the peoples favor. In a c...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Navys Prometheus brings doctors to remote Aegean islands
2. Grateful Saviola thanks Olympiakos, joins Verona
3. Police seeks identity of woman injured in Thessaloniki hit-and-run
4. Armed robbers hold up post office in Thessaloniki
5. Greece needs private debt overhaul, Piraeus Bank CEO says
6. Cheap energy pulls down eurozone producer prices in July
more news
Today
This Week
1. Politicized archaeology
2. Rain and storms with hail expected in many parts of Greece
3. Moderating expectations
4. New committee formed to assess progress of deregulation in closed-shop professions
5. Trial over 2013 murder of pawn merchant starts in Athens
6. Reforms to dominate Greek talks in Paris, debt relief talks later, says source
Today
This Week
1. Thessaloniki mayor Boutaris sworn in wearing yellow star amid Golden Dawn protests
2. The battle against progress
3. Attack on gay couple in Athens leaves one man needing surgery
4. Strong undersea quake occurs off island of Milos, felt in Athens
5. Greek quest for debt relief faces hurdles in Paris
6. Hardouvelis, ECB executive discuss bank program, stress tests
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.