If the Greek government exploits all of its weaponry in combating tax evasion will be able to cut tax rates for consistent taxpayers and enterprises soon and to contribute in the recovery of investments and of economic activity in general, the Federation of Hellenic Enterprises (SEV) said on Thursday.
In a weekly bulletin, SEV said that without a drastic reduction of tax evasion any room for introducing investment tax incentives were small.
SEV noted that incentives to encourage investments should be horizontal, to be included in a national taxation code and to include all enterprises focusing on restructuring and modernization spending, to be linked with profitabiity and re-investment of profits and to be free of any time-consuming, bureaucratic procedures related with the Greek state which raised the possibility of corruption cases. It added that a new development draft law included several positive actions such as the use of tax incentives instead of subsidies to a greater extent compared with the past, encouraging emblematic investments starting from 20 million euros (instead of 50 million earlier), simplifying procedures for inclusion and control in cases of ready equipment, consolidation and coordination of public funding through holding funds.
SEV said that a new special property tax (ENFIA) will lead 45,000 enterprises to pay 240 million euros in supplementary tax, 33 companies to pay 40 million and 2,300 companies -with significant investments in real estate- to pay additional taxes of 140 millon euros.
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