#Greece Default Watch - Update on 2014 Property Tax!!!
#Greece Default Watch update on 2014 Property tax where there is yet another change from the the Athens government on tax collection. The temporary property tax collected in the electricity bills for 2012 and 2013 and the luxury domestic and commercial buildings taxes are to be changed into a more unified and simplified system for 2014 whereby every piece of property and parcel of land will be taxed individually.
For private homes, the new tax approach will continue to use the 150,000 euros private home threshold value between ordinary tax bands and premium luxury band taxes. The 2014 tax collection approach will see every property, building and land taxed separately. No piece of property or land will be free of tax, and that includes all agricultural and farmed lands, another change.
The government has relented in only one area - for the long term unemployed and where a taxpayer's level of income is below the poverty line. They are to be exempted. Details are yet to be announced.
The EU openly has been making public statements to the effect that Greece will not leave the euro and as each day progresses, they say, the likelihood becomes less and less.
None the less, we are still on #Greece Default judging by the number of Greeks who payed their electricity bills in 2012 and 2013 but refused to pay the additional property tax included in the same bill. The essential difference in 2014 is that all tax collection will revert directly to be the responsibility of the tax authorities who hope the streamlined system will see a potential 3.1 billion euros collected in 2014 with a certain base of 2.7 billion euros.
The question is, especially for those with holiday homes - Will the government give enough notice of the new tax rates in 2014 and give enough time for us to pay and how will taxpayers be notified? In 2013 many foreign residents were caught out by late notification.
For private homes, the new tax approach will continue to use the 150,000 euros private home threshold value between ordinary tax bands and premium luxury band taxes. The 2014 tax collection approach will see every property, building and land taxed separately. No piece of property or land will be free of tax, and that includes all agricultural and farmed lands, another change.
The government has relented in only one area - for the long term unemployed and where a taxpayer's level of income is below the poverty line. They are to be exempted. Details are yet to be announced.
The EU openly has been making public statements to the effect that Greece will not leave the euro and as each day progresses, they say, the likelihood becomes less and less.
None the less, we are still on #Greece Default judging by the number of Greeks who payed their electricity bills in 2012 and 2013 but refused to pay the additional property tax included in the same bill. The essential difference in 2014 is that all tax collection will revert directly to be the responsibility of the tax authorities who hope the streamlined system will see a potential 3.1 billion euros collected in 2014 with a certain base of 2.7 billion euros.
The question is, especially for those with holiday homes - Will the government give enough notice of the new tax rates in 2014 and give enough time for us to pay and how will taxpayers be notified? In 2013 many foreign residents were caught out by late notification.
Information
Share