ECONOMY

Government backtracks on receipt returns measure

The Finance Ministry is taking a step back on its strict measures regarding the application of the midterm fiscal plan, as it appeared ready to postpone the application of a ceiling to tax returns for receipts collected by taxpayers.

The draft law to be voted by the Parliament on Thursday, June 30, had originally provided for taxpayers to be allowed no more than 300 euros each in return for the cash receipts they have submitted with their income tax statements this year. Yet the strong reaction even within PASOK seems to have put off the measure.

Minister Evangelos Venizelos went on record late on Friday to suggest that the measure will not apply this year after all and that the system of tax incentives for the collection of receipts in order to beat tax evasion will be overhauled as of next year anyway.

The minister felt compelled to intervene as there were reports that a number of PASOK deputies were angered by the measure and would consider voting against the law that is vital for Greece to collect the fifth instalment of its bailout money, amounting to 12 billion euros.

Among those reacting was no less a figure than Deputy Prime Minister, Theodoros Pangalos, who stated on Friday that ?if such a thing is true then it is deplorable.?