According to a draft bill that will be tabled in Parliament on Thursday, real estate owners in Greece will start paying the new Single Property in six monthly installments starting in July 2014.
The payment process will be completed for this year’s extraordinary tax that is currently paid via electricity bills. The payment of the new tax will start after this completion, which is expected to reach up to 2.65 billion euros. In 2015 the tax will be paid in nine installments.
According to newspaper Kathimerini, Greece’s creditors contradict the Finance Ministry’s figures and have asked for additional measures to the effect of 400 million euros. The shortfall will be covered by 200 million of the Public Investments Program.
The new tax will shift the burden from small property owners to the 290,000 taxpayers, whose property assets add up to at least 300,000 euros, as the latter will also pay the supplementary tax, totaling 380 million euros. Another 280 million euros will come from the supplementary tax to be paid by corporations.
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