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Ministry of Finance Plans Tax Cut

After incurring tax hikes for the last four years, the Greek Finance Ministry is aiming to cut taxes in 2015 for self-employed and salaried workers, along with pensioners.

However according to Kathimerini, this act will rely on authorities expanding tax collection rates.  The act has been formulated by the General Secretariat for Public Revenue, whose goal is to enlarge tax collectibility. Now, collectibility stands at approximately 75%; the Ministry plans to increase this figure to 100% by 2015.

The Ministry's goal is to gain 6.9 billion euros in 2014 taxes. To reach this figure, officials have set 9.17 billion euros, regarding a collectibility deficit. 2.2 billion euros is predicted to evade tax collectors, and will be granted to current state debts, which are approximated at 66 billion euros.

The General Secretariat wants to heighten the collectibility rate, in order to avoid an increase in the existing deficit. Then the Finance Ministry can steadily lessen tax rates. The method will be begin in 2015 and forecasts a monthly reduction income tax, in comparison to the standard full payment a year later.