Millions of households in Greece are at risk of tax seizures due to rising costs and unpaid debts, but there are specific protections available for taxpayers.
In Greece, millions of households are facing the nightmare of tax seizures as a result of shrinking incomes caused by the rise in living costs. The burden of unpaid taxes, insurance contributions, and fines continues to grow monthly, creating a vast pool of overdue debts that taxpayers struggle to manage. Consequently, tax authorities are targeting various assets, including bank accounts, properties, and other personal assets for potential seizure, significantly impacting financially vulnerable citizens.
To mitigate the risks of seizure, there are specific provisions in place that provide certain exemptions and protections for taxpayers. For instance, there are rules that allow for a protected amount to remain untouchable in bank accounts, salaries, and pensions as long as taxpayers meet their declaration responsibilities in a timely manner. This is crucial for individuals who are striving to maintain some financial stability amidst their debts and obligations.
Moreover, taxpayers are advised to keep their deposits in a single individual or joint account to benefit from the protection of up to 1,250 euros monthly. This safety measure applies for each individual and is contingent on filing an electronic declaration with the tax authority. Such measures aim to provide individuals with a buffer against potential asset seizures while encouraging compliance with tax obligations, which have become increasingly challenging in the current economic climate.
