I’m sorry (?) to say that but I have reasons to believe Greece is not anymore a ‘state of law’ but a “state of pure absurdity’! The Machivallism unprescendeted, the amateurism exemplary! Those listening to Finance Minister E. Venizelos yesterday, those who managed to understand what he was saying about the collection of receipts for tax reductions needed lots of time to recover from the schock. In fact, they haven’t recovered yet, as it turns out that the new regulations were most probably written by somebody standing in a rest room with a scrap of toilet paper paper in one hand and a broken pencil in the other.
Venizelos said that people have to document with ‘electronic receipts’ that they have spent 50% of their income in order to meet the taxation requirements. Otherwise, there will be penalty of 10% tax to the missing amount.
That is if you have a gross yearly income of 60,000 euro, you have to spend 30,000 euro! For
At the same time, receipts for utilities, mobile bills, transport etc and of course, tax payments are not recognized as ‘expenditure’! The law to be in effect soon and will be valid retrospective the whole 2011, requires that all these receipts are ‘electronical’ that is the spending is done via the so-called “smart-card”.
However, the ‘smart-card’ has not be issued yet, is expected to be in circualtion soon. Therefore taxpayers will be called to spend 50% of their annual income in the next three months until the end of the year.
Comments? I’have run out…. HERE IS THE UPDATE AND THE LATEST UPDATE ON THE ISSUE – FinMin keep us busy only wiht one ssue today 🙁