The Greek government’s new draft tax bill, tabled in parliament on Friday, envisages more favourable provisions to taxpayers, private and corporate, to settle their debts with tax agencies, according to ANA.
Under the draft legislation, which will be debated and voted in Parliament under fast-track procedures, taxpayers will be offered lower monthly instalments (20 euros), lower interest rates (from 5.0 pct to 3.0 pct) and a bonus for higher advance payments.
The draft legislation also envisages reductions in a special property tax (ENFIA) by an average weighted 22 pct, offering a respite to real estate owners in the middle class and low-value owners. The ministry said that this scheme will be the last chance for taxpayers to settle their debt with favourable conditions and that after completion of the scheme, all debts will be settled through a permanent debt settlement mechanism.
Cuts in ENFIA, according to the total value of real estate assets, will be: 30 pct for property up to 60,000 euros, 27 pct for property up to 70,000 euros, 25 pct for property up to 80,000 euros, 20 pct for property up to 1,000,000 and 10 pct for property more than 1,000,000 euros.
Taxpayers’ arrears will be eligible for inclusion in a 120-instalment scheme for debts up to December 31, 2018.
Moreover, both private and corporate tax debtors, the latter owing up to 1 million euros, can save on surplus charges depending on any of the following number of instalments, the percentage corresponds to surcharges and interest saved:
- – 100% if the full amount of the debt is paid off in one single transaction
- – 95% for 2-4 monthly instalments
- – 85% for 5-12 monthly instalments
- – 80% for 13-24 monthly instalments
- – 75% for 25-36 monthly instalments
- – 45% for 37-48 monthly instalments
- – 30% for 49-60 monthly instalments
- – 20% for 61-72 monthly instalments
- – 10% for 97-120 monthly instalments
Finally, the minimum amount of a monthly instalment is set to 20 euros while the suspension of enforcement of claims on debtors’ properties is also included in the new taxation bill.
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