It is encouraging news. However, just the other day, we were told that someone was selling a brand new flat at a new construction site and was offering a 50K discount on a 750K asking price if 1/3 were paid black. I mean really, is this still happening? Are people still paying 200K cash?? How does that even work?
I mean what is the government supposed to do to combat this? Maybe they should subsidize such large online payments with 'gifts'? eg, the govt could give the buyer back eg 30-40 K because they would still be getting the full tax rather than only half or even less.
Greeks are some of the hardest working people in the world. they are also taxed the hardest.If I was working in Greece I would be trying my hardest to minimise my tax.
Let's not get started on the 24% Vat, land taxes, and everything in between.
If you take into account the employers contributions for the social security funds, on top of the tax, we actually pay more than the heavily taxed Scandinavians. Noone talks about that. And also it is unfair, self-employed pay different rates and also dependent on the profession, eg lawyers vs engineers /architects vs doctors/pharmacists etc etc
A reduction in VAT tax does not necessarily imply a reduction in revenues collected from it. Quite the opposite, in fact, if it helps boost production and consumption even further.
Property taxes are already quite high in Greece, so this would not be ideal to do.
There is a lot of injustice in the Greek tax system and it pushes to dark money and tax evasion .
On the other hand, it surprises me that unlike other countries, wealthy Greeks move their tax residence to the UK ,Monaco or Cyprus but still continue to live in Greece as nobody checks the days spent. This is state enabled tax evasion and fraud. Fictitious residence abroad and unlike checks on Greek residents for updates on their data, no questions are asked once you are declared a κάτοικος εξωτερικού. I find it unacceptable that the Greek tax is fiercely going after the little guys but leaves untouched the big and bigger fish .
The tax system is definitely a big reason as to why people are pushed towards tax evasion.
I think that the problem with fictitious residences is not just a "Greece problem". Many other countries face similar issues with Ultra-High-Net-Worth Individuals (UHNWI).
It is encouraging news. However, just the other day, we were told that someone was selling a brand new flat at a new construction site and was offering a 50K discount on a 750K asking price if 1/3 were paid black. I mean really, is this still happening? Are people still paying 200K cash?? How does that even work?
I mean what is the government supposed to do to combat this? Maybe they should subsidize such large online payments with 'gifts'? eg, the govt could give the buyer back eg 30-40 K because they would still be getting the full tax rather than only half or even less.
Greeks are some of the hardest working people in the world. they are also taxed the hardest.If I was working in Greece I would be trying my hardest to minimise my tax.
Let's not get started on the 24% Vat, land taxes, and everything in between.
People outside Greece just don't get it..
If you take into account the employers contributions for the social security funds, on top of the tax, we actually pay more than the heavily taxed Scandinavians. Noone talks about that. And also it is unfair, self-employed pay different rates and also dependent on the profession, eg lawyers vs engineers /architects vs doctors/pharmacists etc etc
What taxes should Greece impose to replace the fall in VAT taxes? Perhaps property taxes? Is that relatively simple to enforce?
A reduction in VAT tax does not necessarily imply a reduction in revenues collected from it. Quite the opposite, in fact, if it helps boost production and consumption even further.
Property taxes are already quite high in Greece, so this would not be ideal to do.
How does the property taxes compare to neighbouring countries? Is it possible to transition that into a land tax instead?
Greece's one is pretty high. I am not sure a transition would be easy (or even possible) at this stage.
There is a lot of injustice in the Greek tax system and it pushes to dark money and tax evasion .
On the other hand, it surprises me that unlike other countries, wealthy Greeks move their tax residence to the UK ,Monaco or Cyprus but still continue to live in Greece as nobody checks the days spent. This is state enabled tax evasion and fraud. Fictitious residence abroad and unlike checks on Greek residents for updates on their data, no questions are asked once you are declared a κάτοικος εξωτερικού. I find it unacceptable that the Greek tax is fiercely going after the little guys but leaves untouched the big and bigger fish .
The tax system is definitely a big reason as to why people are pushed towards tax evasion.
I think that the problem with fictitious residences is not just a "Greece problem". Many other countries face similar issues with Ultra-High-Net-Worth Individuals (UHNWI).