Greek Finance Ministry Drafts Bill to Promote Use of Plastic Money

creditcards1The Greek Finance ministry is drafting a new bill soon to be tabled in parliament that would offer tax benefits to people who use credit or debit cards for their payments.

Citizens who spend 10-30% of their income in purchases using plastic money will enjoy cuts on their income tax. This is a measure to battle tax evasion.

Specifically, for annual income up to 10,000 euros a 10% in spending using plastic money would be required, for income up to 20,000 euros it would be 15%, for income up to 40,000 euros at 20% and for higher incomes it would be 30%.

The draft bill also envisages offering additional incentives to promote e-payments, such as lotteries with state property assets as prize, cash returns, etc.

A team of experts under Alternate Finance Minister Tryfon Alexiadis are drafting the law in collaboration with employees of the General Secretariat of Information Systems.