ECONOMY

Luxury tax to restart from this year

At the end of August the Finance Ministry’s General Secretariat for Public Revenues will start sending luxury tax payment notices to owners of swimming pools, aircraft and cars of with engines of over 1.929 liters.

The legal clause for the reactivation of the luxury tax will be included in a multi-bill that is expected to be tabled in Parliament on Tuesday or Wednesday.

Owners of recreational boats will also pay a levy, but that will be included in a bill to be tabled by the Merchant Marine Ministry.

The luxury tax was supposed to come into force as of 2014 but the fiscal gaps have forced the government to bring it forward to this year. It is expected to bring between 100 and 130 million euros per year into Greece’s state coffers.

A high-level Finance Ministry official, who did not want to be named, said that the notices will not be included in the income tax process but will form a separate procedure.