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Financial News: Tougher penalties on tax dodgers envisioned

Δημοσίευση 31 Δεκεμβρίου 2010, 14:06 / Ανανεώθηκε 27 Ιουνίου 2013, 14:55
Financial News: Tougher penalties on tax dodgers envisioned
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Tax dodgers will face tougher penalties, while tax bureaus will be reorganised for optimum efficiency based on the tax draft law to be tabled in parliament in late January by Finance Minister George Papaconstantinou.

Tax dodgers will face tougher penalties, while tax bureaus will be reorganised for optimum efficiency based on the tax draft law to be tabled in parliament in late January by Finance Minister George Papaconstantinou.

Confirmed tax dodgers will face stricter penalties while new measures will be implemented to ensure greater effectiveness in the collection of taxes by local tax bureaus. Mergers or suspension of operation are also in the plans for tax bureaus in an effort to reorganize the tax collection mechanism.

Changes in taxation include the adoption of a new tax scale with rates of 18 pct-45 pct for declared incomes over 100,000 euros.

A 12,000-euro income tax exemption is enacted but taxpayers will need to submit receipts for goods or services purchased depending on the size of their income.

Taxation will be higher for houses, private cars, leisure boats, swimming pools, paid tuitions and household personnel.

All purchases over 1,500 euros conducted by private individuals will be made through credit cards, debit cards, or certified cheques. In case of companies or professionals the measure will be effective for transactions above the 3,000-euro threshold.