Monday, Jul 28, 2014Monday, Jul 28, 2014
News
 

Greece seeks 2.5 billion euros in new tax revenues

Published on Dec 14, 2012 5:33 PM
 
 A woman holds a black flag during a rally against state sector layoffs demanded by the country's international lenders, outside the parliament in central Athens Dec 14, 2012. Greece has formally unveiled a bill to boost tax revenues under the terms of its international bailout, part of a two-pronged attack to get its citizens and firms to pay their way. -- PHOTO: REUTERS

ATHENS (REUTERS) - Greece has formally unveiled a bill to boost tax revenues under the terms of its international bailout, part of a two-pronged attack to get its citizens and firms to pay their way.

The planned measures are estimated to increase tax revenues by about 2.5 billion euros (S$3.9 billion) in 2013-2014, the finance ministry said.

A second bill to be introduced later will to reform a tax administration widely seen as corrupt and ineffective in combating rampant tax evasion.

The first bill, introduced, late on Thursday, scraps many tax exemptions and raises tax rates on property, companies and households with above-average income.

 
If you are not a subscriber, you can get instant, unlimited access here