HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Topics » Economy & Education » Economy (Group) » New Greece top income tax...
Introducing Discussionist: A new forum by the creators of DU

Thu Dec 13, 2012, 09:38 PM

 

New Greece top income tax rate is 42%

http://bigstory.ap.org/article/greeks-earning-42000-be-taxed-top-rate

ATHENS, Greece (AP) Greeks earning more than 42,000 ($55,000) per year will now be taxed at a new top rate of 42 percent, under a major new tax reform bill submitted to the country's parliament late Thursday.

Under the new guidelines, the 42 percent top tax rate and earnings threshold replaces the previous level of 45 percent for incomes above 100,000 ($130,770). The new rate is part of a simplification of the country's tax rules. There are currently eight tax bands ranging from 18 percent to 45 percent. These will be replaced by three tax rates: 22 percent, 32 percent and 42 percent.

Greeks earning less than 25,000 ($32,700) a year are set to benefit from the new system in spite of the raise in the basic tax band as the government is proposing to raise the threshold on which income is taxed.


Ours is 35%.

5 replies, 1082 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 5 replies Author Time Post
Reply New Greece top income tax rate is 42% (Original post)
banned from Kos Dec 2012 OP
JEFF9K Dec 2012 #1
Iggy Dec 2012 #2
customerserviceguy Dec 2012 #3
Iggy Dec 2012 #4
Warpy Dec 2012 #5

Response to banned from Kos (Original post)

Thu Dec 13, 2012, 09:42 PM

1. twice

You need a top rate twice that high for real prosperity.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to banned from Kos (Original post)

Thu Dec 13, 2012, 09:43 PM

2. Hah Hhah Hahhhh!!!! Good luck collecting it!

 

Please get real-- one of the main reasons Greece is going down the toilet bowl is because of massive tax evasion for decades-- by BOTH the public and private sectors.

Once you've got this level of tax evasion ingrained into the culture.. good luck changing this behavior in just a year or two.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Iggy (Reply #2)

Thu Dec 13, 2012, 10:00 PM

3. Agreed

Tax evasion is an artform in Greece, the well off will just move to a tax haven, of which there are plenty in the area.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to customerserviceguy (Reply #3)

Thu Dec 13, 2012, 10:03 PM

4. Speaking of Tax Evasion....

 

does anyone get the fact we may be headed where Greece is headed-- if wealthy corporations continue to get away with-- this is just one example, off shoring which costs us $100 BIL per year in lost revenue??

I'm supposed to believe Obama and the "democrats" in congress are serious about stopping this insanity??

Reply to this post

Back to top Alert abuse Link here Permalink


Response to banned from Kos (Original post)

Thu Dec 13, 2012, 11:35 PM

5. The question is the number of teeth that law has

Wealthy Greeks have always considered paying taxes utterly optional. If there are real consequences for tax dodging, this could be a good beginning for them.

But yes, there has to be a higher rate for the real thieves at the top.

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread