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The Greek government proposes another shocking tax increase

03 February 2016 / 11:02:23  GRReporter
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Yesterday the Greek government submitted to the representatives of creditors a proposal that provides for a maximum tax rate of 50% for individuals and for the collection of at least 300 million euro in annual revenue. The proposal has been drafted within the context of the changes that the government has to introduce in taxation.

So far, the Ministry of Finance has not sent the creditors the planned changes in the taxation of farmers, since according to the sources, it is trying to combine them with the changes in the social security system in order to limit the total losses for farmers and thus respond to their demands.

According to a senior government source, the plan of the government for changes in the taxation rates of the income of individuals provides for a maximum rate of 50% (compared to 42% at present) for the incomes from 2016 onwards.

Moreover, as the same source emphasized yesterday, there were proposals for an even higher rate (60%) but they were rejected. The government source furthermore indicated that this rate does not include the so-called solidarity payment (as envisaged in the memorandum).

Tags: Greek governmentCreditorsTax rateIncreaseRevenue
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