New taxation reforms included in the Greek government’s deal with international creditors (EC, ECB, IMF, ESM) in August are due to be implemented after Sunday’s snap elections. Taxpayers, regardless of the elections outcome, can expect:

* Reductions to wage/pension amounts in government seizure from 1,500 euros per month to 1,000 euros. Indebted taxpayers will have 50% of their wages confiscated whereas 100% of the amount will be seized in wages that are over 1,500 euros per month.

* The minimum amount of money needed in a bank account before it can be seized will drop from 1,500 euros to 1,250 euros.

* Bank confiscations will increase with tax services being able to redeem money held in banks to pay off public debt in an express process lasting less than two weeks.

* The activation of a State mechanism that regulates debt owed to public funds. Electronic notices will be sent out to those who have debts so that they can pay them off or settle them in 12 installments after responding to the call to pay. Those who fail to respond to the notices could face foreclosures and other action.