RT @parman_the: 2 problems, 1 solution:
Problem 1 - forced to spend and not save income.
Problem 2 - forced to use electronic payments.
Solution - use a VISA debit card to buy #bitcoin with what you want to save, and hide savings through coinjoin until privacy improves.
Let the Greeks know! https://t.co/ARWSLDmw1w
I am confused about how this will help. If Greeks are using cash to hide their income, won’t this legislation encourage them to use even more cash so that they can declare even less income and therefore have a smaller amount subject to the 30% rule?
Greeks pay for things in cash because it's easier to hide taxes that way. However, when they get paid it's the employee which pays income tax, not the employer. Businesses don't want to pay their employees in cash because they could get in trouble for employing people under the table, they don't pay the income tax, and by expensing their employee's wages they reduce their own tax burden. So the government has little difficulty in figuring out people's wages, it's figuring out how much people spend that's difficult.
First time I have ever heard of anything like this. New government is trying to stop tax evasion. The scheme is part of new prime minister Kyriakos Mitsotakis's sweeping overhaul to revive growth. Good luck, Greek individuals.
"Southern Europe, particularly Greece, have booming shadow economies. A study by the Institute for Applied Economic Research in 2017 found that Greece had the largest in the world, being equivalent to 22 per cent of gross domestic product."
This may seem absurd, but shop owners don’t report income to the tax man. By making purchases with debit cards shop owners will have to declare their income.
Business owners, doctors, and many others who own fancy cars and houses declare no income to the government. Businesses don’t issue receipts, doctors gave two sets of prices for patients who require receipts and those who don’t. Ach!
Jokes on you, the country is so much in the red, the only thing you'll get transferred to your name is: debt IOU's, a fun, local crypto called Olivecoin, and photo's of greased up dudes looking to meet you at the dicsoteca in Cyprus, only if you send them just 20 US dollars.
The government expects to raise more than €500 million ($808 million) every year from the initiative that will force Greeks to spend 30 per cent of their income electronically, Alex Patelis, the prime minister's chief economic adviser, revealed.
Individuals that fail to meet the target will be hit with a 22 per cent fine on the shortfall. Therefore, if an individual spends just 20 per cent of their income through electronic means, they would face a 22 per cent tax on the remaining 10 per cent bar some exclusions.
Ma isegi ei hakka spekuleerima, kas see saaks maksudest hoidumist vähendada, kuna meede on naeruväärne ja tõenäoliselt ka välja naerdakse - või siis mässatakse vanas heas Kreeka stiilis kuni valitsus on sunnitud pillid kotti panema. :O
Ühte asja järeldan aga küll: kui Kreekas alajaama katus alajaama sisse lendab, siis tõenäoliselt on poes maksmisega tänapäeval igati bueno. Sularaha on kasutusel ja selle antavat mõningast vabadust hinnatakse piisavalt, et valitsus närvis on. :P
As I said many times here: no need to go on streets to protest. That push govs to take drastic measures that comes back against you.
Just USE Bitcoin for everyday life, slowly get rid of fiat and close your bank accounts
That makes banks and govs OBSOLETE, they will be out of business, soon. And they can do shit about it.
THE SILENCE REVOLUTION IS BITCOIN
Don't complain that merchant do not accept it. Make it happen, convince them. Support those who already do it, buy only from them, that will push others to adopt it.
As a merchant, give discounts for paying with BTC, put a markup for paying with VISA. Make it clearly visible for new clients that they will have a good choice by paying with BTC and dump the fucking spy visa.
If you are still not paid in BTC, DEMAND it! Make your voice listen! Insist on your employer. If you are a freelancer, same as merchants, give discounts for paying with BTC or choose ONLY those clients that pays with BTC.
The Revolution will not happen if you still use the fucking VISA for daily purchases (even worse if you use the so called Bitcoin debit cards). Stop using fiat and VISA, make the revolution to succeed. Don't be a fiat slave!
Most Aussies I meet here, and have met on vacation are completely stupid. No foresight, no hindsight, just living in the now in a state of clouded bliss. Not sure how they manage to feed themselves, tbh. I am turned off the entire country.
As an Aussie, unfortunately this is accurate.
We have it easy, our standard of living is good, so most Aussies don't give a fuck.
I honestly believe the entire world could be protesting for more freedom and Australia would be the last country left never bothering to get off the couch to fight for a better life.
>> Tax evasion has been labelled a "Greek national sport" and it was estimated in 2016 to cost the country's coffers up to €16 billion every year, largely through fraud on VAT or income tax.
Although I've made this joke myself in the past, about tax evasion being our national sport, it's insulting to see it repeated by an Australian publisher. Personally, I've only had to pay taxes abroad, in the UK, where there was no opportunity to evade them (because they were directly deducted from my salary - I'm a PhD student now hence the past tense). I wouldn't really say I'm an expert tax evader.
That said, any discussion of taxation and tax avoidance in Greece as well as the rest of South-Eastern Europe must also take into account the sorry state of public services, which tax money is meant to support. It's a chicken-and-egg problem, but it's easy to see why nobody would want to be the malakas who pays their taxes properly only for their tax money to disappear down the black hole of corruption before having any chance to improve the national health service, education, our roads, etc etc. Taxation makes sense when it's spent to improve and maintain the commons - not to line politicians' pockets.
Of course, that's not absolving my fellow Greeks of responsibility. Corruption is high in Greece because we support corrupt politicians with our votes, and because we have done so for three generations since the "metapolitefsis", the change to democracy after the years of the military dictatorship (ended in 1974). To wit, Kyriakos Mitsotakis (the current prime minister, pictured in the article) is the second Mitsotakis to be prime minister, grandson of the first - and his mom is also an MP. And before him we had Papandreou I (in the '50s), II and III and also Karamanlis I and II to rule us (and all their friends and cousins as MPs). We keep voting the same "houses" in power and then complain that they suck us dry and destroy the economy. And then of course it's every man and woman for themselves.
It's a fucked up situation and we are very much guilty for our choices over the years. But silly jokes about national sports don't help to get to the heart of the issue, or convey its seriousness.
The parliamentary financial evaluation committee has already declared it as unconstitutional.
For those that still manage to save some of their income – a luxury for very few nowadays – the plans to tackle this were already though out. For example, a large purchase of a high end tv at the last day of the year, which then would be returned a couple days unopened. The ministry would be “happy” and your savings would not really have exchanged hands permanently.
It mostly illustrates the inability of the government to be effective.
I had a colleague who went on a Greek island cruise and told me a story of a common tax invasion scheme he heard about. I can't say whether this is true or not as he tends to tell "tall tales". He said he noticed a lot of residential properties with tiny churches on them. He said he learned that if Greeks had a church on their property it would be taxed at a much lower rate (or perhaps not at all) and therefore everyone had these tiny one person churches on their properties.
That sounds like an ugly hack and I suspect that tax evasion reporter bounties would probably work better but I don't know their system and problems in details beyond "rampant tax evasion and loopholes in an economy that isn't as advanced as it should be".
I had a related thought while having breakfast. A hypothetical transparent economy where everyone had open ledgers of transactions and how utopian or dystopian it would wind up.
Money laundering still be possible in that system - any uncertain value fudged up or down in exchange for illicit hidden transactions would work for that practice.
Seen another way, companies will have to provide electronic payment options. Hopefully there's follow up incentives to make electronic payments appealing. Credit card cash back isn't still a thing in EU (or at least Germany). That said, I don't know which is generally safer, cash or card, but in my own experience I feel more secure traveling/walking around with my bank card that cash. It's 2019 and there's still several places in Germany where you have to pay > 50eur bills in cash.