x

Society

New Democracy Will Require Mandatory Rent Payments Through Banks

August 22, 2019

ATHENS – The new New Democracy government, in a bid to crack down on tax evasion, is making rent payments mandatory through bank accounts instead of cash, which often is used to show a landlord is receiving less than being paid.

Cash transactions in violation of the requirement will be penalized because of widespread tax cheating, especially by owners who rent out their properties, said Kathimerini.

What spurred it was a case on the notorious tax dodging tourist island of Mykonos where the paper said a person who rented his property for 12 years at a monthly rent of 1,667.67 euros ($1,848) – when would triple in the final four years – but then declared it was a second home for vacations for him to avoid paying any tax.

Authorities say that payment through bank accounts would protect owners from delinquent clients and would help them prove non-payment and thus avoid additional taxes but it also means they can’t declare less than they are receiving.

But there could still be a loophole, with both sides drawing up a fake contract with a low payment being shown to have the owner avoid paying taxes although it wouldn’t benefit the rent payer.

Property incomes have their own rates, 15, 35 and up to 45 percent for rent incomes of more than 35,000 euros ($38,784.55) annually. Like all governments previously – who had failed – New Democracy vowed it would be the one to crack down on tax cheating although it’s been in power before and didn’t.

RELATED

ATHENS - A record heat wave in the summer of 2023 was followed by the warmest winter recorded in Greece, with long periods of temperatures above normal, a pattern seen in six of the previous 10 years.

Top Stories

Columnists

A pregnant woman was driving in the HOV lane near Dallas.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

Video

Nikki Haley Wins the District of Columbia’s Republican Primary and Gets Her First 2024 Victory

WASHINGTON (AP) — Nikki Haley has won the Republican primary in the District of Columbia, notching her first victory of the 2024 campaign.

WASHINGTON (AP) — The Supreme Court on Monday restored Donald Trump to 2024 presidential primary ballots, rejecting state attempts to hold the Republican former president accountable for the Capitol riot.

CHICAGO - One of the toughest, and longest-playing stars of the National Hockey League, Chris Chelios, at a ceremony where the Chicago Blackhawks retired his number 7 jersey, said the day he was traded to his hometown team “was the greatest day of my life.

JetBlue and Spirit Airlines are ending their proposed $3.

ANKARA - Turkish President Recep Tayyip Erdogan said he won’t give up a push to convince the United Nations and world to recognize the occupied side of Cyprus that was seized in unlawful 1974 invasions.