Gov’t announces tax breaks, waives book of accounts for farmers

He said the meeting had decided to waive an obligation that farmers keep detailed books of accounts regardless of income, except for those who were obliged to keep books for other activities they were involved in. Those with an income exceeding 15,000 euros a year, however, will still be required to submit regular summarised statements of their income and spending.

The meeting also decided to exempt farmers entering the new

system from the freelance workers’ levy for the first five years, as well as those that are three years before retirement.

All farmers will be obliged to submit an annual VAT statement at the end of the year, while the summarised statements of income and spending will also be submitted annually.

The measures will also exempt farmers from paying VAT as individuals if they sell their products through third parties, such as traders, cooperatives and groups.
The groups and cooperatives dealing in farm products will carry out a settlement of farmers’ sales once a year.

Farmers entering the new system this year will also pay an advance on income tax of 27.5 pct instead of 55 pct for the statement submitted in 2015.

Agricultural Minister Athanassios Tsaftaris, Deputy Finance Minister George Mavraganis and the general secretary for public revenues Haris Theoharis also participated in the meeting.

source: ΑΜΝΑ