Author Topic: Tax deal  (Read 3241 times)

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Offline Maik

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Tax deal
« on: Wednesday, 29 April, 2015 @ 18:48:05 »
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Greece to offer taxpayers a deal to get money back home

Greece is to allow money held abroad by its taxpayers to be declared without penalty and taxed at a discount rate, a move to help overcome a cash crunch threatening the country with bankruptcy.

Greeks have sent billions of euros abroad since the debt crisis exploded in 2010, fearing that the country may crash out of the euro zone. The deposit flight has strained its banks which have become dependent on central bank funding for liquidity.

Under the planned law, the deposits may be taxed at a rate of 15 to 20 percent, a senior finance ministry official said, an incentive for those who have sent money abroad but have not reported it as income to Greek tax authorities.

Depositors who have evaded reporting incomes would otherwise face a 46 percent tax rate and 46 percent in penalties if caught.

Varoufakis said that once the bill is passed by parliament, a political agreement will be signed between Greece and Swiss authorities to exchange information on Greek deposits held in Swiss banks.
http://www.reuters.com/article/2015/04/28/us-eurozone-greece-deposits-idUSKBN0NJ1JN20150428