Tax-related measures tabled with business environment bill
Tax-related measures tabled with business environment bill

Tax-related measures tabled with business environment bill

The area covered by basements, platforms, lofts and other spaces "legalised" under the law for
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RE+D magazine
23.03.2012

The area covered by basements, platforms, lofts and other spaces "legalised" under the law for unauthorised constructions will also count as evidence of income, under a draft bill for improving the business environment that was tabled in Parliament by the development ministry on Thursday.

The area covered by basements, platforms, lofts and other spaces "legalised" under the law for unauthorised constructions will also count as evidence of income, under a draft bill for improving the business environment that was tabled in Parliament by the development ministry on Thursday.

Such areas will be counted as storage spaces calculated at 40 euro per square metre when calculating a tax-payer's presumed minimum income.

The draft bill also contains a number of other tax-related measures, mostly of a procedural nature, such as that exempting European Economic Area member-states residents of tax on a primary residence or that stipulating that the E9 property form need only be submitted when there is a change in a tax-payer's property status as opposed to his or her family status.

One article also stipulates that the special surtax on buildings cannot be written off as an expense by companies, while another requires that individuals submit a tax statement when their income exceeds 5,000 euro and a third significantly reduces the fines imposed on petrol station owners for delayed entries of sales transactions in the Hephaestus system, which were deemed excessive.