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Varoufakis proposes a tax on ATM withdrawals

26 May 2015 / 19:05:32  GRReporter
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In a conversation with journalists Greece’s Minister of Finance Yanis Varoufakis said that the Ministry was considering a tax on ATM withdrawals. He explained that the measure would not include levying a tax on card transactions, money transfers and deposits.

According to the Minister, the imposition of the tax would aim to act as an incentive for more intensive use of electronic banking services.

Having appeared in all Greek media, the news provoked a series of comments on social networks.

"Varoufakis said he would impose a tax (telos) on ATM withdrawals but did not specify which of the two meaning of the word "telos" (it also means "end"- author’s note) he had in mind," analyst Kostis Lympouridis wrote on Twitter.

"Before the tax on ATM withdrawals we used to withdraw money little by little. Now we will immediately withdraw our salaries (when they have been paid)," was the comment of euro2day.gr journalist Fotis Kolias.

Kostas Stoupas of capital.gr was more laconic, using the popular Greek expression, "(It is so ridiculous that) even stones are laughing."

Only an hour after Varoufakis’ statements before economic reporters, the Ministry of Finance posted on its web page the following corrective statement:

"Concerning taxation of banking transactions and ATMs

A proposal to tax bank transactions was submitted during the negotiations in the Brussels group. The Ministry of Finance opposed it, stressing that with regard to the use of cards, web banking and bank transfers, the specific proposal is contrary to the policy of the Ministry to provide incentives to reduce cash payments.

Eventually, following the reaction by the Ministry, the proposal for taxation of banking transactions (including ATM withdrawals) was withdrawn from the negotiations.

In the same statements to the media, Yanis Varoufakis said that there could be changes in the taxation of non-polluting cars, the owners of which are not paying tolls at present and that a proposal for changes in excise duties on fuel could be submitted during the negotiations.

Tags: PoliticsYanis VaroufakisTax on ATM withdrawalsBrussels group
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