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New Tax Rate for High Earning Greeks

by Associated Press posted Dec 13 2012 5:43PM
 ATHENS, Greece (AP) - Greeks earning more than (euro) 42,000 ($55,000) per year will now be taxed at a new top rate of 42 percent, under a major new tax reform bill submitted to the country's parliament. 
 
     Under the new guidelines published late Thursday, the new 42 percent top tax rate and earnings threshold replaces the previous level of 45 percent for incomes above (euro) 100,000 ($130,770).  
 
     The measures were submitted to parliament hours after eurozone finance ministers in Brussels agreed to restart rescue loan payments to Greece - promising (euro) 49.1 billion ($64 billion) between now and March, with (euro) 34.3 billion of that amount due in the coming days.  
 
     In return for the rescue loans, Greece's international lenders have insisted on a series of reforms, tax raises and spending cuts. 
 
Filed Under :
Topics : Business_Finance
Location : AthensBrussels
12/13/2012 5:42PM
New Tax Rate for High Earning Greeks
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