Tax, taxes, settlements suddenly dominate Greek govt agenda – ‘Crunch time’ with creditors

PM Alexis Tsipras said his government would retain an unpopular property tax it had promised to axe once in government

It’s (suddenly) “raining” taxes and instalment plans for overdue state debts in Greece, with analysts pointing to an 11th hour push by the leftist Greek government to seal a deal with creditors and unblock more than seven billion euros in bailout funds.

Economic developments dominated the news on Tuesday, hours after PM Alexis Tsipras gave a wide-ranging TV interview into the wee hours of the morning, and where, amongst others, he said his government would retain an unpopular property tax it had promised to axe once in government.

Other measures being circulated on Tuesday included an “extraordinary tax” on high incomes and retaining a so-called “solidarity tax”.

On his part, FinMin Yanis Varoufakis provided the first details of an initiative to allow Greek taxpayers to reveal and legalize untaxed money in foreign bank accounts in return for a one-time 15-percent “hit” on the cash.

Additionally, the government appears to insist it will generate a very ambitious figure of 350 million euros in revenue from auctioning off broadcasting licenses, along with a new tax on TV ads, with a goal of 50 million euros – amid a crushing downturn in the domestic advertising market.

The announcement by Tsipras that his government was keeping the property tax (ENFIA) in place, at least for this year, is a dramatic turn from less than a year ago, when the then opposition SYRIZA party called on citizens to ignore the tax, under the slogan “Don’t have it (money), can’t pay it”.