NEWS

‘Mini’ tax bill awaits Parliament vote

Lawmakers on Friday continued debating a new tax bill which was expected to be voted in Parliament on the same evening.

The ratification of the so-called “mini” tax bill presented by the three-party coalition government — supported by New Democracy, PASOK and Democratic Left –was seen as crucial in terms of the government’s plans for fiscal restructuring as well as boosting the country’s credibility among its European partners.

“Each euro collected from the extra fiscal revenues sought, is one euro saved from salaries, pensions and social benefits,” said Financial Minister Yannis Stournaras speaking in Parliament on Thursday.

The so-called “mini” tax bill incorporates 31 amendments including the exclusion of receipts for the acquisition of heating oil and rent payments from among those collected for the securing of a tax-free ceiling, while the capital gains tax for property transactions from January 1, 2013, is seen amounting to 20 percent.

The bill foresees additional revenues and spending cuts totaling 2.3 billion euros, including 1.1 billion stemming from extra taxes and 200 million from the increase in interest taxation.

A so-called ‘national’ tax bill is expected later in the year.