ECONOMY

Property tax paid through power bills to undergo cut

The government intends to cut the rates of the extraordinary property tax paid via electricity bills that will continue to form part of the power charges for 2013 after all, upon the insistence of the country’s creditors, although they have not yet given their consent to the 15 percent rate cut Athens wants.

The creditors’ representatives are reportedly still examining the figures submitted by the government regarding how the 200 million euros of the rate cut will be covered.

Athens is also speeding up the process to start taxing farms and other plots that have not been included in the special property tax, given that it had only concerned properties connected to the power grid since its imposition in September 2011.

According to sources, a special set of rates is being planned for taxing farms in a bid to fetch revenues of between 400 and 600 million euros on an annual basis.