By G. Kouros
A "Danish model" is apparently favored by creditors for Greece's tax-free annual income threshold, which currently stands at roughly 8,600 euros, compared to the 5,781-euro figure calculated for non-Euro zone member Denmark.
Creditors, especially the IMF, have long pressed for a lowering of the figure in Greece, arguing that the tax base is too narrow in the country, whereas various castes of taxpayers, such as craftsmen, most always declare income at a level that is tax-free.
Of course, even lower levels are found in other countries, such as Ireland, with a tax-free threshold of only 1,650 euros, or in Sweden, another non-EZ country, with 1,401 euros (calculated from krona at this week's parity).
One major difference in other countries, however, is the deductible allowed for medical expenses, single-parent households, disabilities, elderly taxpayers and even home maintenance costs.