Purchase Receipts

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Kilkis
Posts: 8922
Joined: Sat Apr 21, 2007 3:58 pm
Location: Near Chania

Purchase Receipts

Postby Kilkis » Sat Nov 26, 2016 12:28 pm

According to an ekathimerini article the government has completely abandoned the requirement to keep purchase receipts in order to be eligible for the rebate on income tax, which is equivalent to a tax free allowance. In another article, however, the IMF is pushing the government to reduce the rebate so that it is only equivalent to a tax free allowance of €5,000 compared with around €9,500 on this year's tax return. Job 1.21?

I love the IMF's interpretation of the situation in Greece, my emphasis in red:

    "The IMF considers that the government’s tax reforms have not dealt with the very generous tax exemptions in Greece that allow more than half of salary workers to be exempt from paying income tax, while in the eurozone the average rate of exemption stands at 8 percent.

If more than half of salary workers are exempt from tax that means more than half of salary workers are earning less than €9,500. Hardly a high salary. Rather than generous tax exemptions could it possibly be that IMF driven fiscal measures imposed on Greece have completely trashed the economy depressing wages to a much lower level than the rest of the Eurozone?

Warwick

PS Obviously only of interest to those who are registered as tax resident in Greece.

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