The Hellenic Radio (ERA): News in English, 10-02-08

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From: The Hellenic Radio (ERA) <www.ert.gr/>

CONTENTS

[01] Taxation& Income Policies at Final Stage

Reforms in taxation and income policy are expected to be announced till Friday. The Ministers' Council will approve final decisions during its meeting on Tuesday so the Parliament can pass the bill till the end of February. It is believed that non taxable income remains at â¬12.000 but it will be linked with collection of receipts. A common taxation scale with four rates- without increasing the highest 40% rate - will be introduced. The same draft-bill provides for abolition of ETAK and reintroduces Large property Taxation with increased rates and non -taxable value.

In a few days we will know who are the winners and who the losers from reforms in taxation, wages and pensions.

...The country is called to deal with unprecedented crisis..." Government spokesman

According to reports a single price indexed taxation scale with rates ranging from 15% to 24% for income levels up to 30.000 euros, in other words concerning 95% of taxpayers, interpreted in paying from 100 to 400 euros lower tax.

A 35% rate for income levels from 30.000 to 60.000 euros which does not bring substantial relief while a 40% rate will be introduced for income levels above 60.000 euros instead of 75.000 euros in effect to present.

Collection of receipt corresponding to 20% of income will be the key for final tax relief or burden.

There will be reforms in non taxable level for residence house and large property tax abolishing tax relief for 200sm house and reintroducing 300.000 euros values. ETAK is abolished and Large Property Tax reintroduced with tax free level at 400.000 and 0.1% to 1% tax rates for properties of value above 900.000 euros. Income policy for 2010 providing for wage freeze and 1.55 rises in pensions will be also announced.

Government spokesman

The country is called to deal with an unprecedented crisis underlined government spokesman, stressing that the government is not merely trying to manage the crisis but to effectively crack down the problems that have created it. In response to whether there is a German-French plan to bail out Greece, Mr. Petalotis said that the crisis is a clearly Greek issue.

"We will overcome the crisis alone. We know the causes and it is an opportunity to make all deep and radical changes required to correct the problems of the past. Certainly, we are members of the EU and the Eurozone which means that there is European solidarity. We move and we will continue moving within the frame of European solidarity as all EU member states", the government spokesman said.

Furthermore, he sent a message to society and trade unions of the extremely narrow limits to serve group interests and claims underlining that national interest is top priority at crucial times.

Strikes in February

Wednesday 02/10: ÁDEDÕ Wednesday 02/ 17: tax and customs officers Wednesday 02/ 24: GSEE

ADEDY has strongly reacted to new draft-bill providing for wage freeze and cuts maintaining that civil servants salaries will lose 5% to 20% . ADEDY is staging a demonstration on Wednesday .

Source: ÍÅÔ-ÍÅÔ 105.8-ÁNA/ÌPA

News item: 33028

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