Gov’t ta­bles plan over ad­di­tional in­cen­tives for plas­tic money use

Kathimerini English - - Focus - BY PROKOPIS HATZINIKOLAOU

The gov­ern­ment’s plan for a lon­gawaited bill on in­cen­tives to en­cour­age Greeks to use credit or debit cards in­cludes an ad­di­tional tax-free amount for tax­pay­ers who use them for more than 80 per­cent of their an­nual ex­pen­di­ture, tax dis­counts for med­i­cal ex­penses paid by card, and new lim­its for elec­tronic trans­ac­tions be­tween cor­po­ra­tions.

The plan has been sub­mit­ted to the coun­try’s cred­i­tors but has not yet re­ceived their ap­proval. It has 12 main points:

Whether a tax­payer qual­i­fies for a tax-free thresh­old of 1,9002,100 eu­ros de­pends on how much their pay­ments by card come to as a per­cent­age of all spend­ing.

Med­i­cal ex­penses paid with cards qual­ify for a tax dis­count.

Ad­di­tional tax-free amount for those who use cards for more than 80 per­cent of their to­tal spend­ing.

Tax­pay­ers who spend over a cer­tain amount us­ing cards or other elec­tronic means – which will de­pend on in­come – will also re­ceive tick­ets for lot­tery-type draws (e.g. for ev­ery ex­tra 1,000 eu­ros they will get one ticket).

Per­ma­nent res­i­dents of Aegean is­lands that have lost the 30 per­cent value-added tax dis­count will get an ad­di­tional taxfree amount for the amount spent us­ing cards on those is­lands.

Some cat­e­gories of tax­pay­ers, such as over-65s and those in re­mote parts of the coun­try, will be ex­empted from the obli­ga­tion to pay via cards.

Com­pul­sory ac­cep­tance of card pay­ment by all pro­fes­sion­als, en­forced grad­u­ally based on lo­ca­tion and pro­fes­sion.

Fur­ther re­duc­tion to lim­its on all cash trans­ac­tions.

On­line sup­ply of data to the Fi­nance Min­istry by pay­ment ser­vice providers and re­ceiv­ing banks ac­tive in Greece.

Ex­tra in­cen­tives to pro­mote on­line pay­ments, such as lot­ter­ies with state prop­er­ties up for grabs, money re­turn for trans­ac­tions in spe­cific pro­fes­sional cat­e­gories etc.

Com­pul­sory salary pay­ment via banks for an­nual salaries over 500 eu­ros.

On­line con­nec­tion of tills with the Fi­nance Min­istry for the elec­tronic trans­fer of all tax-re­lated data in whole­sale and re­tail trans­ac­tions.

The gov­ern­ment’s plan to pro­mote pay­ments with credit or debit cards pro­vides for the com­pul­sory ac­cep­tance of card pay­ment by all pro­fes­sion­als, en­forced grad­u­ally based on lo­ca­tion and pro­fes­sion.

Newspapers in English

Newspapers from Greece

© PressReader. All rights reserved.