Finance Ministry Drafts Legislation to Promote Use of Plastic Money

Finance Ministry Drafts Legislation to Promote Use of Plastic Money

Greek Finance ministry is drafting a new legislation -soon to be submitted to Parliament- linking tax-free income with spending using credit cards and interconnecting cash machines with the General Secretariat of Information Systems.
The new legislation, drafted by the team of Alternate Finance Minister Tryfon Alexiadis, envisages that each taxpayer must spend using credit/debit cards up to 10-30 pct of its income in order to enjoy a tax discount. More analytically, for annual income up to 10,000 euros a 10 pct spending using plastic money should be required, for income up to 20,000 euros a 15 pct, for income up to 40,000 euros a 20 pct and for higher incomes a 30 pct. The draft bill could also envisage offering additional incentives to promote e-payments, such as lotteries with state property assets as prize, cash returns, etc.


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