Monday April 21, 2014 Search
Weather | Athens
17o C
11o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Receipt collection to continue

 Measure is extended to 2014, but taxpayers only need to produce the equivalent of 10 percent of their income

By Prokopis Hatzinikolaou

Taxpayers in Greece will have to continue to collect receipts next year according to the law amendment tabled in Parliament on Friday. However, those collected will have to come to the equivalent of 10 percent of the individual’s annual income as opposed to 25 percent – which was the case until this year – in order to avoid paying a penalty.

The government’s decision to retain the receipt collection measure illustrates that despite Finance Ministry officials’ statements saying that the assets register would be brought into use, that is not the case.

The new maximum amount of receipts to be collected has been revised to 10,500 euros and there will be no bonus for the collection of receipts amounting to more than 10 percent of one’s annual income.

If the sum of receipts handed over by a taxpayer is below the required amount, a penalty equal to 22 percent of the difference will be imposed. So, for instance, if a taxpayer has an income of 20,000, they must produce receipts totaling 2,000 euros for the 2014 financial year. If the amount comes to 1,000 euros, besides the income tax, they will also have a fine imposed on them equal to 1,000 x 0.22, which means another 220 euros.

The Finance Ministry’s tabled amendment states that the types of spending whose receipts will be required will be determined and announced at a later date, along with the way the receipts will be divided between spouses, the categories of taxpayers to be exempted from the obligation and any other detail needed for the application of the receipts collection measure.

Certain categories of civil servants, such as employees at the Foreign Ministry, the Greek National Tourism Organization, the Greek representation in the European Union, military staff serving abroad, Athens Chamber of Commerce and Industry staff, as well as the resident’s at old people’s homes, are already exempted from the requirement.

ekathimerini.com , Friday December 20, 2013 (22:11)  
Eurobank share offering on April 25-29
PPC to issue corporate bond of 500 mln
Primary surplus continued by end-March
Eurobank eyes top Core Tier 1 level in Greece
Greek Christians mark rare Good Friday in north Cyprus
Hundreds of Greek Orthodox pilgrims, some coming home after 40 years of forced exile, commemorated the crucifixion of Jesus in a rare Good Friday service in northern Cyprus. Held in this med...
Greece offers to help find Turkish F-16 lost in 1996
Greece officially offered on Thursday to assist Turkey in its efforts to locate and salvage a Turkish Air Force fighter jet which crashed in the Aegean almost 20 years ago. Greek Defense Min...
Inside News
BASKETBALL
Greens lose badly as CSKA Moscow
Panathinaikos has a mountain to climb in order to reach the Final Four of the Euroleague after losing at CSKA Moscow on Friday for a second time in two days, only this time it was comprehens...
BASKETBALL
Former Red Bourousis wrecks Olympiakos´s hopes for a break
Olympiakos tried harder in Game 2 of the Euroleague play-offs in Spain, and Real Madrid was not as good on Thursday as in Game 1, but the Spaniards still emerged victorious on the night with...
Inside Sports
COMMENTARY
The placebo effect and the economy
Among the greatest mistakes made in the years of Greece’s hard landing is that citizens did not get the chance to sense that aside from austerity and pain the economic adjustment program als...
COMMENTARY
Ukraine is a crisis—but not a Cold War
Given Russia’s annexation of Crimea, the imposition of US and European sanctions, and the potential for more escalation in Ukraine, we are witnessing the most important geopolitical events s...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Greek Christians mark rare Good Friday in north Cyprus
2. Eurobank share offering on April 25-29
3. Greens lose badly as CSKA Moscow
4. Former Red Bourousis wrecks Olympiakos´s hopes for a break
5. PPC to issue corporate bond of 500 mln
6. Greece offers to help find Turkish F-16 lost in 1996
more news
Today
This Week
Today
This Week
1. Greece's market return mirrors return of tourists
2. Parties start announcing candidates for European Parliament elections
3. Greece startup leaders say they can’t break jobless cycle alone
4. Ground-breaking Good Friday mass signals thaw in Cyprus
5. IMF's Thomsen says Greece not fully financed to 2016
6. Mayoral candidates clash over Athens mosque plans
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.