FinMin considers improvements to law address issues raised by farmers', sources say

17:50 13/2/2014 - Πηγή: E-Typos

Improvements announced last week to a draft law for farmers' taxation and accounts keeping fully address the issues they have raised, finance ministry sources said on Thursday after a meeting between Finance Minister Yannis Stournaras and farmers' representatives ended without agreement.
According to the same sources, Stournaras urged farmers' representatives

to engage in dialogue and participate in a new growth model for the country, in which agriculture will play a key role.

More specifically, improvements announced are the following:
- All farmers with a gross income exceeding 15,000 euros will be obliged to submit regular summary statements of their income and spending.
- Farmers (even those whose income exceeds 15,000 euros) will not be obliged to keep a book of accounts recording all income and spending, but do have to keep receipts and invoices of income and spending.
- For the first five years, farmers entering the new system are exempt from the levy for freelancers, as well as those that are three years before retirement.
- All farmers will have to to submit an annual VAT statement at the end of the year.
- Those that sell their products through third parties (traders, cooperatives and groups) are exempt from paying VAT.
- 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 pay an advance on income tax of 27.5 pct instead of 55 pct for the statement submitted in 2015.