Business | Daily | Tourist

ATHENS – Greece’s new coalition government, which vowed to go after tax cheats who owe 70 billion euros, is instead offering them a tax break.

The government said people who have undeclared incomes can escape prosecution – few are charged anyway – if they pay a one-off tax of 21 percent to avoid further penalties, fines or criminal action.

The deal applies to whether the money is in Greek banks or secreted abroad in foreign banks, a haven for rich Greeks who want to avoid paying taxes.

The offer came out of a meeting between Finance Minister Yanis Varoufakis and State Minister for Combating Corruption Panayiotis Nikoloudis who concluded that there should be a single rate for the legalization of incomes placed in Greece and abroad.

Originally the ministry had drafted a bill with a 15 percent tax for deposits abroad and a 30 percent tax for those in Greece, but Nikoloudis expressed strong opposition to such a discrepancy as it would penalize people who kept their money at home and give a break to those who took it out of the country.

The post Greece Offers Tax Cheats Amnesty appeared first on The National Herald.

Source: The National Herald
Share it now!
Who We Are

GQS acts as an “information representative” providing a variety of accurate and authoritative analytics and responses About Greece. Our field of expertise ranges from simple Daily Life questions related to Tourism or the History of Greece, up to large Business related projects such as Economic Research, Human Resources Selection or Real Estate Services.

Find out more

Contact Us

Are you interested in obtaining any kind of information about Greece?

Let us help you!

If your requirements go beyond simple services and you want specialized information, you will receive a detailed email for any charges.

  • Weather

    July 22, 2018, 3:53 pm
    real feel: 38°C
    current pressure: 1010 mb
    humidity: 31%
    wind speed: 3 m/s SSW
    wind gusts: 3 m/s
    UV-Index: 7
    sunrise: 6:20 am
    sunset: 8:43 pm
  • Currency