ECONOMY

Two taxation bills to come in two months

two-taxation-bills-to-come-in-two-months

The government is expected to bring two new tax bills to Parliament in the next couple of months, from which it foresees collecting additional revenues of 2.2 billion euros.

The taxes stemming from the new interventions will be paid by households, corporations, freelancers and farmers, while the plans also include new income tax brackets and the replacement of the Single Property Tax (ENFIA).

The first draft law will be tabled by the end of this month and will concern the voluntary declaration of incomes; it will also include clauses on tackling fuel tax evasion such as regulating fuel tanks and fuel transport, and on the application of the new Assets Register (Periousiologio).

The second, and more ambitious, bill is to be expected by end-February. In this draft law the government will attempt to incorporate part of the SYRIZA election program. It is set to include changes to the income taxation brackets, the incorporation of the solidarity levy in the income tax and a new property tax to replace ENFIA. However, that plan will be quite difficult as any changes will have to ensure the same fiscal result as what has already been agreed with the country’s creditors.