Tax Residents & new rules

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Carolina
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Tax Residents & new rules

Postby Carolina » Wed Jan 18, 2017 1:09 pm

This is confusing, is there something missing here?

Greek govt have announced that for 2017 only e spending (credit, debit cards, electronic transfers etc) will count towards the tax deductions /allowance .. Utility bills (electricity, water, phone etc) are now also accepted to count towards the allowance..

BUT the measure exempts those aged 70 and over, those with a disability rate of 80 percent or more, and non-Greeks who are citizens of European Union or European Economic Area countries who pay income tax in Greece. They will still have to collect paper receipts to secure a tax discount.

http://www.ekathimerini.com/215281/arti ... ls-are-out

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

Re: Tax Residents & new rules

Postby Kilkis » Wed Jan 18, 2017 3:28 pm

Despite an earlier announcement that there would be no section on the tax declaration form this year for declaring the amount of paper receipts collected, I have still been collecting them just in case. The current government is the most shambolic that I have experienced in 20 years here and that's saying something when you realise how bad some of the others have been. Therefore, I don't trust any of their proclamations.

Personally I will await advice from my accountant who is usually on the ball. It will be interesting to see if over 70s and non-Greeks can opt into the electronic system. I certainly spend over 20 % of my taxable income electronically and I would be quite happy to let the banks do the work for me.

On a different, tax-related topic I have been told by a friend that they have also changed the rules on UK State Pensions. Under the Double Taxation Agreement between Greece and the UK, the UK State Pension was supposed to be taxable in Greece for anybody who is registered as tax-resident here. In reality it was highly variable. Some accountants did report it under taxable income and some reported it under non-taxable, i.e. it remained taxable in the UK. I am told that it will formally remain taxable in the UK from now on. Again I await confirmation from my accountant but if anybody is having a meeting with their accountant it might be worth raising it as a question.

Warwick

Kilkis
Posts: 8908
Joined: Sat Apr 21, 2007 3:58 pm
Location: Near Chania

Re: Tax Residents & new rules

Postby Kilkis » Tue Jun 20, 2017 1:48 pm

I had a meeting with my accountant yesterday to do my annual tax return and he said that the UK State Pension has always remained taxable in the UK. Hey ho.

Warwick


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