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 - Work to clear the snow off the streets in all the neighborhoods of Athens has been completed and the crews of the municipality have already started clearing the squares, according to an announcement by the Municipality of Athens on Friday.

Top Stories

Associations

ASTORIA – The Pancyprian Choir of NY held its first meeting of 2022 and shared best wishes for the New Year with their annual cutting of the traditional vasilopita at Dionysos Taverna in Astoria on January 24.

Associations

BRONX, NY – In a festive atmosphere, the traditional cutting of the vasilopita was held by the Northern Chios Society of Pelineon Agia Markella in the community hall of Zoodohos Peghe Greek Orthodox Church in the Bronx on January 23.

Society

ATHENS – A major snow storm that had been predicted for days still caught residents in Greece offguard and the New Democracy government scrambling for answers as to why motorists were stuck for hours on major roads.

Video

Prosecutors in Floyd Killing Probe Use-of-Force Training

ST. PAUL, Minn — Prosecutors in the federal trial of three former Minneapolis police officers in George Floyd's killing probed the department's training on use of force, a key issue at the heart of charges that the officers violated Floyd's civil rights.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. abc@xyz.com

You may unsubscribe at any time using the link in our newsletter.