ECONOMY

Taxes are set to ease further from next year

taxes-are-set-to-ease-further-from-next-year

The Finance Ministry is considering an extension to the protection of primary residences, changes in the receipt lottery, and the return of retroactive dues to pensioners according to the capacity of the budget, minister Christos Staikouras stated on Saturday.

In an interview on ANT1 TV, Staikouras also said it is highly likely the Single Property Tax (ENFIA) will be reduced further after May 2020, and that the tax-free threshold will be raised.

On the protection of primary residences, Staikouras noted that the ministry will work methodically in the coming months to exclude strategic defaulters. He revealed that the framework for nonperforming loans will be ready in two weeks’ time. “One in four protected borrowers are strategic defaulters, according to data from the Bank of Greece and the credit system. So one in four can pay but won’t pay – this section will have to pay,” Staikouras stressed, adding that talks are under way with the country’s creditors to extend the protection status for those who deserve it.

The changes in the receipt lottery may include giving away luxury items besides the 1,000-euro prizes, the minister said, adding that the government wants the primary surplus to drop to 2 percent of gross domestic product from 2021.