The government is eying changes to the income tax code to allow for greater deductions based on electronic transactions – as opposed to cash purchase receipts – as well as considering a “lottery” using the e-receipts.
The initial framework foresees that taxpayers will build a deductible base primarily from electronic transactions, with the sum tallied online, instead of calculated the deductible from numerous print receipts that consumers are obliged to retain and present to the tax bureau if requested – the ubiquitous “shoebox” file.
Incentives towards businesses to boost or even rely entirely on e-transactions are also expected.
Relevant Alternate FinMin Trifon Alexiadis announced the initiatives on Wednesday, speaking at a conference on digital transactions in Athens, where he said the government will also push for a reduction of bank fees slapped on electronic transactions – amongst the highest in the EU – and work to lower the cost of acquiring the terminals and network connections by businesses.
