The Greek government is due to vote on the omnibus draft bill on prior actions that the country is obliged to implement as part of the bailout deal. Greek lawmakers are set to vote on the bill on Friday after heated debate. The implementation of the reforms will release about 2 billion euros worth of bailout money benchmarked for Greece.
Amongst the 48 reforms are the following changes:
– Jail sentences of at least one year for the non-payment of public debt worth 100,000 euros (from 50,000 euros) for periods of more than four months, and three years for failure to not pay 200,000 euros (from 150,000 euros) for a period of more than four months. This change is to apply retroactively.
– ENFIA of more than 1 euro needs to be paid. Those who rent rooms for tourism would also need to pay. Taxes to money received from rent will increase from 11% to 15% and from 33 to 35% to apply retroactively from January 1, 2015. Furthermore, homeowners will be required to pay taxes on rent that they may not have received from their tenants.
– Those who are unable to make payments on the debt resettlement in 100 installments would be re-examined, whereas the applications will be reassessed. Tax evasion will be penalized for those who haven’t paid 100,000 euros (misdemeanour) and more than 150,000 euros (felony).
– The state would be able to dip into the reserves of public funds when necessary.