New Greek Tax System Puts the Screws to Businesses, Self-Employed
Ninety percent of previous year's tax must be paid in advance
Self-employed and businesses will be obliged to pay in advance 30% of the tax of the previous year in January, July and October. That is the tax office will collect 90% of the tax in advance -based on taxation of previous year – independently of the actual revenues of business and self-employed in the running year.
Currently down-payment of tax is at 55%.
Exceptions are considered in case the running revenues (and consequently tax payment) are lower than 20%. But then the tax payer has to prove this.
