Greek Deputy Finance Minister Lays Out 2016 Taxation Plan



tryfon-alexiadisGreek Deputy Finance Minister Tryfon Alexiadis announced on Monday the 10 steps that the Greek government will take in hopes of increasing revenue streams from taxation and combating tax evasion.

Alexiadis announced the following measures as reported by various Greek media outlets:

  1. A new legislation that will allow for the voluntary report of black money (income illegally obtained or not declared for tax purposes) will be introduced by next week.
  2. Greek citizens will report their wealth in December.
  3. There will be small additional changes on taxation of 2015 incomes.
  4. Taxation reforms on individuals and real estate will be made in February.
  5. Measures to combat the illegal trade of fuel and tobacco will be implemented.
  6. A new tax will replace the notorious real estate ENFIA tax. Alexiadis noted that the new tax will be more rational and fair.
  7. The General Secretariat of Public Revenue will be reformed.
  8. A digital taxation service will be created.
  9. Taxation on real estate will be based on market value instead of the current system where taxation is based on the objective value of a property.
  10. A new committee on the country’s taxation policy will be established.

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