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Greeks Driven Up the Wall by New EU/IMF Property Tax

Τhe Greek Ministry of Finance is breaking the backs of all Greeks by imposing a new property tax in order to prove to the EU and IMF that the government stays true to its creditors’ austerity programme.
At the news of this “surprise” tax last Wednesday, Greeks were outraged by having to pay eventually an additional property tax ranging from 0,5 up to 16 Euros per square metre depending on the zone of the real estate and the year of building.
Disabled and longterm unemployed persons as well as people with many children can file a special application in order to pay the minimum of 0.5 Euros per square metre provided that their real estate does not exceed 200 sq.m. in a zone of 3.000 Euros per sq.m.
The tax will not apply to state offices, embassies, religious buildings, monasteries, non-profit organisations, charities and amateur sports clubs and it would help the government to also tap properties of foreign-based owners or offshore companies.
Under the pressure from its international creditors, the Greek government is trying to plug a budget hole of 2.7 billion Euros by asking for more and more sacrifices, which now mean that electricity will be cut off for owners who refuse to pay the tax, since this is the way it will be collected.
“I was rubbing my eyes in disbelief,” tax accountant Vangelis Abeliotis told Flash Radio, underlining that each household will have to pay at about 1.000 Euros on top of existing wage cuts and price rises.
The tax will be collected in 2 installments in 2011 starting from October and in 4 installments in 2012 from May until December.

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