Monday, April 18, 2011

7.000 euros in new taxes for 200.000 taxpayers

More than 200.000 taxpayers will be burdened by more and 7.000 euros a year in additional taxes.

The government's plan to save up to 3 billion provides for the repeal of tax breaks benefiting those who reported annual incomes above $ 60.000 a year.


The Finance ministry punishes those who declare high incomes, since it discovered that they are the ones who benefit mostly from tax breaks, while low-income wage earners have less or zero benefit.


Specifically, the exemptions and tax-free amounts enjoyed by approximately 168.500 taxpayers with incomes between 60.000 and 100.000 euros, amount to an average of 3.500.


And especially for the 35.500 taxpayers who have incomes above 100.000 euros, the benefit reached 5.500 euros on average.


In contrast, the benefit from tax relief for 1.250.000 taxpayers with middle income of 20.000 to 45.000 was just 1.740 euros on average.


Nearly one in two taxpayers submitting a tax return statement, uses the exemptions and displays costs for medical expenses, insurance premiums, tuition fees or rent in order to save tax.


For the 50% of individual taxpayers, some 2.800.000 people, the benefit was about 750 euros on average...




by Kostis Plantzos
source: PROTO THEMA