GREECENew tax laws to lift revenue

Published Jan 14, 2013

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Greece’s parliament approved new tax laws at the weekend, aiming to boost state revenues by e2.3 billion (R26.8n) this year, under the country’s commitments to international creditors. The law shuffles and simplifies tax scales, reforms family benefits, increases taxes on deposit interest and expands the tax base. It brings a new top tax rate of 42 percent for those earning more than e42 000 a year. The previous top rate was 45 percent for incomes above e100 000. The government says the new law will reduce the burden on those making less than e25 000 a year. – Sapa-AP

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