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Greece: New Cash Restrictions & New Taxes

Published:

Greece outlaws cash transactions greater than 1500 Euros.
"From 1. Jan. 2011, every transaction above 1,500 eurosbetween natural persons and businesses, or between businesses,will not be considered legal if it is done in cash. Transactionswill have to be done through debit or credit cards" -- In an attempt to rein in the shadow economy and collect more tax revenue (ahh, of course).
(Instead of, say, making the non-shadow economy competitive?)


http://www.agoratelegraph.com/2010/02/greece-outlaws-cash-transactions-above.html


Greece to levy 40% tax rate on more earners
Greece will lower the current 75,000 euro income threshold that is subject to a 40 percent tax rate as part of reforms to urgently boost government revenues (What about the revenues of the citizens who actually earned it?)

http://www.reuters.com/article/idUSLDE6170CY20100208


Greece raises retirement age and fuel taxes
Labor and Social Security Minister Andreas Loverdos announced a two-year increase in the average retirement age on Tuesday to bring it to 63 by 2015.
http://www.canadianbusiness.com/markets/market_news/article.jsp?content=D9DOOA600

(2010 is not the best year to be 56, eh? Kick the retirement, Charlie Brown.)

Entry #375

Comments

1.
JAP69Comment by JAP69 - February 17, 2010, 3:28 pm
This country could be headed for no cash transactions. Will be headed in the direction where gov't can monitor the flow of money.
Look what happen to North Korea with their currency.
2.
time*treatComment by time*treat - February 17, 2010, 5:44 pm
I heard about it. ;) http://www.lotterypost.com/blogentry/35557

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