The tax-free law will come into force from now on along with tips for employees.
In a press conference held at the Finance Ministry, it was said that the finance staff would initiate legal interventions.
Until today, taxation was applied from the first euro of tips.
A new regulation brought by the Ministry of Finance defines 300 Euros per month as tax-free as the full amount of tips in the new POS technology was taxable.
At the same time, there is a safeguard against the employer deducting the employee’s salary through tips.
The restriction will apply from November 1, while the exemption from insurance contributions will continue.
Finance Ministry Notifications Live:
Changes brought by the new tax bill
- Tipping changes. It is imported duty-free for tips of up to 300 euros per month.
- Abolition of trade tariffs for all natural persons, whether or not “blocked”.
- Change in procedure and time limits for submission of tax return on permanent basis without extensions. Dates will always apply regardless of governments.
- A modern management model for AADE.
Up to 4% discount on one time tax payment
There are also changes in the bonus available to taxpayers for paying taxes once and within a specified time frame. Note that the bonus is 3% till date.
Upcoming Changes:
- 4% if the declaration is submitted three months before the deadline (July 31) and the corresponding tax is paid once.
- 3% if the process is done two months before the deadline.
- 2% if submission and payment are made within the expiry month.
Mr. Hatzidakis’ introductory statement:
Today we present to you four important changes that will modernize the tax law and affect all or at least a large category of taxpayers in one way or another. These changes will be part of a more comprehensive tax bill. The bill of the Ministry of National Economy and Finance, which includes the initiatives we have already announced and the Prime Minister announced at the International Fair of Thessaloniki.
In other words, we’re talking about 12 wage increases and 12 tax cuts. The bill also includes incentives for mergers and innovations, which have been introduced but will be added to the bill.
And these Four major changes We will talk to you immediately and we will come and solve the issues that have arisen in terms of tipping. You know, the law was there for decades. In fact, that tip was considered income and taxable. Until now, from the first Euro, with the introduction of a new situation created. The government immediately sought the views of all stakeholders, Mr. As Demas later puts it, legislation comes to an order that has other individual parameters, but at its core is an introduction. Tips up to €300 are tax free per month for hundreds of thousands of workers.
The second change was his response to a colleague’s question during the budget debate in Parliament yesterday. Or Waiver of application fee for all natural persons without exceptionThat is for the self-employed with a pad. Again, that will be presented in detail later. After this arrangement, all natural persons will not pay pretense from the 25th.
The third change is the most important change to make with him hereinafter the mode of submission of tax returnsTime Limits and Penalties. The change is based on a proposal from the Economic Chamber of Greece, which also exposes accountants. Its details will be communicated later. The first thing I want to tell you is, Henceforth a fixed date is fixed which does not change every yearApplicable dates will be (…)
The fourth is related to the fourth change A modern management model for AADE. AADE has worked favorably so far. This is a model that was introduced many years ago. In practice it was confirmed that it was a step forward. Also, with the aim of faster, more digital and efficient implementation of the AADE project, we are coming to reinforce the positives and support the required initiative. I will tell you next which are the main changes that will be introduced, but I will stop here and present the first three changes to Christos Dimas, responsible for tax policy.