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Papandreou serves 14 billion euros tax cocktail to Greeks

25 June 2011 / 19:06:10  GRReporter
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After 35 years of service pensions are increased by 2.5 percent for each additional year and after 37 years of service by 3.5 percent until the reach of 40 years of service. Increased are the payments mainly for the provision of employer and worker with 0.50% from August 1, 2011. 

Special payment 

Also introduced is a special payment for pensioners who have additional insurance from the Insurance Capital of intergenerational solidarity (AKAGE), amounting to of 3% -10% for pensions of 300 euros and up. The scale is increased by one point for every 50 euros to 650 euros and up. After January 1, 2015 the amounts from the special payment of pensioners will be transferred to AKAGE and will become income for AKAGE. 

New eligible costs in real estate and automobiles 

In connection with the eligible costs for new properties for the calculation of annual objective costs of the main spaces in an apartment/house, determined are the following: 

* for first 80 square meters of the main space - 40 euro per square meter

* from 81 to 120 square meters - 65 euros per square meter

* from 121 to 200 square meters - 110 euro per square meter

* from 201 to 300 square meters - 200 euro per square meter

* over 300 square meters - 400 euro per square meter

For the calculation of the annual objective costs of the auxiliary spaces in a main house, determined is the amount of 40 euro per square meter.

As for the annual objective costs for a car, determined are the following: 

* for vehicles up to 1,200 cubic centimeters  - 4,000 euros 

* for vehicles larger than 1,200 cubic centimeters added are 600 euros per 100 cubic centimeters until 2,000 cubic centimeters

* for vehicles larger than 2,000 cubic centimeters  added are 900 euros per 100 cubic centimeters  until 3000 cubic centimeters

* for vehicles larger than 3,000 cubic centimeters added are 1,200 euros per 100 cubic centimeters

It is noted that the extraordinary payment levied on cars, boats, airplanes, swimming pools, etc., are derived from the product of the sum of the annual objective costs multiplied by a factor of 5 percent. 

This effectively means that the extraordinary payment of a car over 2,000 cubic centimeters starts from 440 euros. 

Tags: Papandreou Greece crisis tax measures economy
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