Taxpayers who use “plastic” money will receive numerous benefits that are not available to those who pay in cash.
New legislation being drawn up by the Ministry of Finance includes huge incentives for electronic payments. Tax reductions and the chance to win cars and property will be offered to those who choose to pay using credit cards.
Wage earners and pensioners who use debit and credit cards or purchase via e-banking will be able to save up as much as 1,900 to 2,100 euros per annum on tax, reports Greece’s daily Eleftheros Typos. The new incentives are to be implemented from January 1, 2017. To be eligible for tax reductions, consumers will need to have purchased a certain amount using credit cards or else 22 percent tax rates will be applied.
The amount of purchases that consumers need to make will be based on income yielded. For wages and pensions of up to 10,000 euros, consumers will need to show expenditure valued at 10 percent of their income using credit card purchases, the level rises to 15 percent for those who earn 15,000-20,000 euros, 20 percent for those who earn from 20,000-40,000 euros, 30 percent for those who earn more than 40,000 euros.
Tax reductions will range across a number of sectors, from retail purchases to payments for services. These include supermarket shopping, rent payments, public utility payments, interest and mortgage payments, education fees, etc. Transfers to other people or bank transfers will not be included in the new incentives. Also excluded are pensioners over 70 years, those who live in settlements with populations lower than a certain amount and mountainous regions over certain altitudes that have yet to be decided upon.
Everyday 50 consumers around the country who use cards for their transactions will have the chance to enter a drawing for free products, whereas each month five new cars will be drawn from the stocks seized by the Department for the Administration of Public Wealth (ODDY).
See all the latest news from Greece and the world at Greekreporter.com. Contact our newsroom to report an update or send your story, photos and videos. Follow GR on Google News and subscribe here to our daily email!