Greek Ministry of Finance is preparing a law on tax amnesty

The Greek Ministry of Finance is preparing a law on tax amnesty. This will be an opportunity for individuals and corporate units, which have concealed taxes to the state, to declare and pay without penalty. The texts provide that after the announcement of hidden liabilities the taxpayers have 30 days for their payment. There will be an opportunity for deferred payment – for 12 or 24 months. They will have to pay at least 30% of taxes on concealed incomes. In some cases, taxpayers will have to pay 60% of the savings obligations.

There are also fines on unpaid taxes will depend on the delay in announcing duties. They will be able to reach 25% of taxes on returns submitted with a delay of over 15 years. The declaration of tax evasion does not mean that natural and legal persons will not be subject to further checks for any financial year.

Annually in Greece are dodged around 16 billion EUR of taxes, or between 1.9% and 4.7% of gross domestic product. The analysts say the main reason is the complicated tax system of the country, as well as tax breaks to suggest reluctance of the government to deal with the problem.

This year, the government reported over-performance of tax revenues, allowing the accumulation of 6.5 billion EUR surplus at the end of October. Part of these funds will be used to support pensioners before Christmas.

Later today, the parliament is to vote and postponement of tax breaks for Aegean islands. They provide VAT at 17%, while in other parts of Greece, the tax amounts to 24%. The measure is to support those islands that are affected by the refugee wave to the country.

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