Of Chrysostom Chufi

Month by month, with each announcement on the progress of implementing the budget, the image of over -performance is consolidated and thus the formation of a significant financial area. A space that will… translate into a tax reduction list at the upcoming International Exhibition of Thessaloniki.

The six -month budget execution course shows a total tax revenue exceeded 2.3 billion euros. Excess increasing rapidly month by month. In May it was € 1.67 billion and € 1.3 billion in April. Ie 1 billion euros within 60 days.

At the end of August, the government will have a very good picture of where … the final sizes of revenue and the necessary projections will sit. The VAT revenue code (exceeding € 271 million in the first 5 months without the tourist season starting) is a key to clarify the financial staff what can be regarded as permanent revenue from fighting tax evasion and to “abolish” the existing fiscal space.

A space already 1.5 billion euros (1 billion euros from last year’s budget of +500 million euros from the activation of the escape clause which means that certain defense costs are not counted at the expense limit set for each Member State under the new budgetary rules). Therefore, July and August are pivotal months, they will determine if the benefit package will exceed the 2 billion euros tho not to approach the 2.5 billion euros.

For at least 1.5 months, the Treasury has begun to form the list of potential interventions for the benefit of the middle class, and not knowing exactly how much they can … spend.

At the discussion table they are among other things:

  • Changes in the tax scale. Reduce rates and add -ons with the aim of relieving their income mainly between 20,000 – 50,000 euros
  • Under discussion and its pricing although there are strong counter -arguments
  • Tax exemptions for families with children. Increase in tax -free and other targeted tax breaks.
  • Housing crisis. Measures to feed an offer shock as repeatedly reported Kyriakos Pierrakakis. A combination of removal of bureaucracy and obstacles (urban barriers eg for servicers real estate) in combination with motivation and disincentive to owners with closed properties.
  • Documents. They are expected to reduce them by 30%
  • End of business. Under discussion its abolition and for businesses
  • Contributions. Government “owes” half a unit of reductions still
  • Individual income aid aimed at the weakest