Greece's tax package to boost fiscal revenues

[Angelo]

Greece's tax package to boost fiscal revenues



- A 10 percent tax on capital gains on shares, effective from Jan. 1, replacing the existing tax of 0.15 percent on the sale of equities.

- A 10 percent tax on dividends, effective from January 1.

- An 20 percent increase in tax on car licenses, starting this year.

- A 10 percent tax on self-employed people earning less than 10,500 euros a year, starting this year. Previously, these people were exempt from tax.

- Incentives for the payment of outstanding taxes until the end of 2008. Debtors will be allowed to stagger their tax bill in 24 payments.

- Companies will prepay 85 percent of their estimated tax bill before the end of the fiscal year, instead of the previous 65 percent.

- A reduction in corporate tax to 20 percent from 25 percent by 2014. The tax rate will decline by one percentage point per year starting from 2009.

- A reduction in the middle-band of personal income tax to 20 percent from 25 percent by 2014. The tax rate will fall by one percentage point per year starting from 2009. (Reporting by Lefteris Papadimas; editing by Daniel Flynn and Swaha Pattanaik)



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[really]

Are the taxes on capital gains and dividends in addition to the 20% personal income tax? What is the middle band?

[really]

OK, I found out that they are not in addition to the 20%. Makes sense.