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New tax bracket for incomes of over 40,000 euros from rented propertiesThe 1.7 million owners of rented property will this year have to pay an additional 250 million euros in taxes for their income from rentals in 2015.Therefore it will not only raise the 11 percent rate to 15 percent for annual takings up to 12,000 euros, and from 33 to 35 percent for takings of more than 12,000 euros, but it is also planning to introduce a 40-45 percent tax rate for revenues of more than 40,000 euros per annum.
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An actual GrexitWHEN Panagiotis Korfoksyliotis set up a business in Athens in 2011, ferrying tourists around by car, he hoped to do his bit to help Greece emerge from its deep recession. He says he paid his staff a decent wage and declared all his earnings. Unfortunately, the taxman did not repay the kindness. Sharp increases in business taxes have prompted Mr Korfoksyliotis to pack his bags and move his company and his life to Bulgaria. Now he employs drivers to take foreign visitors around that country’s tourist spots instead.He is part of a growing trend.
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Topic: 19/02/16 (Read 1491 times)
