Thursday April 24, 2014 Search
Weather | Athens
23o C
15o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Taxpayers facing a barrage of obligations in next nine months

Unfinished buildings with power will come under the special property tax.

By Sotiris Nikas

Taxpayers face a demanding nine months ahead, starting from June and ending in February 2014, with the implementation of a multi-bill drafted by the Finance Ministry and debated in Parliament over the weekend.

Besides regular income taxes and numerous other obligations being faced by Greek taxpayers, the taxation of real estate property has become the focus of attention after the ministrys decision to demand the payment of the 2011 and 2012 property tax (FAP) in seven monthly installments this year.

Taxing property is seen as the only safe and efficient way to boost revenues, given that indirect taxation is bringing ever-smaller amounts of money into state coffers due to the drop in consumption. In this context, the fiscal adjustment as far as revenues are concerned this year will rely on taxing property.

The measures of the multi-bill are projected to generate an additional 5.9 billion euros in state revenues for the period from 2013 to 2017. The state stands to gain in excess of 6 billion euros from the measures with the addition of a planned increase in teachers working hours that is expected to save 103 million euros from the budget spending of 2013 and 2014.

The settlement of debts to tax authorities is expected to fetch 2.73 billion euros in these five years; the application of the extraordinary special property levy, to be paid again this year through electricity bills, will bring in an estimated 1.9 billion euros; the settlement of debts to the social security funds will result in the collection of 795 million euros in the period from 2013 to 2016 according to labor industry estimates; and the extraordinary levy on photovoltaic systems will add 490 million euros this and next year to state revenues.

The property tax to be paid again via power bills will be broken down in five installments, with the last due in February 2014. Its rate will be 15 percent lower than in the two previous years, as the number of properties to be taxed has grown considerably with the inclusion of properties rented to the state, 17 percent of the surface of camping enterprises and even unfinished buildings that are connected to the power grid.

The FAP property tax for 2011 and 2012 will concern over 500,000 owners, who will start receiving pay notices in June. The FAP for 2013 will also be payable this year, in four installments, with notices expected from September.

Finally, people with expired debts to the state will be able to settle them in as many as 48 monthly installments.

ekathimerini.com , Sunday April 28, 2013 (21:17)  
Expanding the social dividend base
National Bank determined to remain in the Turkish market
Ferries to start using LNG
Investment fund off the ground
Free drugs for uninsured Greeks
There are between 1.9 and 2.4 million Greeks, or roughly 20 percent of the total population, without social insurance, Health Minister Adonis Georgiadis said on Wednesday as he announced pla...
SYRIZAs preparation for elections upset again
SYRIZA's preparations for next month's local and European Parliament elections suffered another blow on Wednesday as Ahmet Kurt, one of the leftist party's candidates for the regional counci...
Inside News
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...
BASKETBALL
Reds and Greens stay alive in Euroleague
Easter and home advantage worked wonders for Panathinaikos and Olympiakos who stayed alive in the Euroleague play-offs beating CSKA and Real Madrid respectively on Monday in Greece. Shak...
Inside Sports
COMMENTARY
Its too soon for Europe to declare victory
There was a time not so long ago when the vast majority of experts agreed that a country could not emerge decisively from a financial crisis unless it solved problems of both stocks and f...
COMMENTARY
Realitys other side
There is plenty of evidence pointing to the fact that the countrys real economy has hit rock bottom and is currently entering a phase of growth. Those who know the market well tend to suppo...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Never underestimate the Greek hoopsters
2. Expanding the social dividend base
3. National Bank determined to remain in the Turkish market
4. Ferries to start using LNG
5. Investment fund off the ground
6. Stocks decline after three days of growth
more news
Today
This Week
1. FBI seeks to identify victims of suspected US child molester who worked abroad, including Greece
2. Greek debt swells again as Samaras looks to creditors for relief
3. Woman dies after falling off state building roof
4. Tunisian sought over employment scam
5. Greece qualifies for new debt relief after 2013 budget surplus
6. Greece sees 2013 primary budget surplus at 1.5 bln euros, says deputy finance minister
Today
This Week
1. Greece startup leaders say they cant 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.