GREECE BANS CASH: TAX-ALLOWANCE POSSIBLE ONLY THROUGH PAYMENTS VIA PLASTIC MONEY | WHAT REALLY HAPPENED


GREECE BANS CASH: TAX-ALLOWANCE POSSIBLE ONLY THROUGH PAYMENTS VIA PLASTIC MONEY

Greece is banning the use of cash the soft way. As of 1.1. 2017, taxpayers will be granted tax-allowance and tax deduction only when they have made payments via credit or debit cards. The new guidelines refer to employees, pensioners, farmers but also unemployed.

Accepted expenditure will be:

purchases for food and supermarket products, electronic and electric devices, household equipment, footwear, clothing, fuel, furniture, cigarettes*, drinks

Restaurants, cafeterias,bars and hotels

Services like by hairdressers and beauty parlors, gyms and dance schools, car repair, plumbers, electricians, painters, carpenters, lawyers and accountants.

For doctors and pharmacy the same practice will be valid as in last year. The tax office will accept the expenditure only if payments are made per credit card or bank transfer.

Expenditure for utility bills, landlines and mobile phones, heating, rent, loan repayments that in fact swallow the largest amount of monthly expenditure for private households will not be accepted. Also not accepted is expenditure for toll and transport tickets.

In its “wisdom” the Greek Finance Ministry has determined the amount the taxpayers will have to pay per e-money in order to be able to get the tax allowance:

10% for annual income up to €10,000
15% for annual income €10,001-€30,000
20% for annual income over €30,001

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