February 7, 2023

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Market Passage: In mid-February, the platform – Economic Postman – was opened

The platform is expected to open in mid-February For 3.2 million households to apply for a 6-month Market Pass for a total of €650 million.

Applications will be submitted through gov.gr and all citizens will need to know and use the Taxisnet network codes as well as fill in contact details, ie phone and email. A bank account will be required to sign up if they do not want his money market corridor To receive it via a non-physical digital card.

With regard to various items and control of income and property standards or if subject to luxury living tax, this will be done automatically without the need to provide any supporting documents.

according to his information Financial Post OfficeSubmission of applications will initially depend on the last digit of the beneficiary’s Tax Registration Number (TIN), while once the process is “run” and settled, everyone will be able to submit an application regardless of their TIN.

Beneficiaries who cannot submit the application electronically, according to the Secretary General of Public Administration Information Systems, Mr. Demosthenes Anagostopoulos, will be able to rush to the KEP either themselves or to any person authorized to them and serve them without having to submit again a copy of the settlement tax statement notice or ENFIA for verification. Income and property criteria. Everything is done automatically by interacting with AADE systems through the GGPSDD Interoperability Center.

Purchase card or VAT reduction?

The Market Pass will be in effect for 6 months (February to July 2023). At the end of February, the first payments are expected to be made for those who choose the non-physical digital card, after which said card will be “filled” in the first week of each month until the process is completed at the end of July.

However, those who do not wish to use the non-physical digital card after that to receive the funds intended for them must register a bank account so that the deposit is not made every month but every three months. Also, those who choose this payment method should know that they will not receive the full subsidy but 80% of it as stipulated in the recently voted amendment.

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What products are included?

In the question asked by citizens about the type of markets that this subsidy will cover, it is worth emphasizing that the amendment that was voted on clarified the scene because at first it was seen that it was only related to foodstuffs. Finally, any product (be it food or something else) that is sold in supermarkets, mini-markets, grocery stores, butchers, sweet shops, dairies, bakeries, fishmongers, street markets, etc. is included in the shopping card.

With the non-physical digital card, the state would essentially prepay 10% of a family’s purchases, but based on certain limits it set. In practice, this means that if the beneficiary wants to spend more money to buy food, no one will stop him, but the amount of the subsidy will correspond to 10% of the amount set by the state from the beginning for each number of household members separately.

For example, if someone is single and meets the income and property criteria, a 10% subsidy will be charged for monthly purchases of €220. That is, the amount of support for the specified beneficiary will be 22 euros. If within a month the specified citizen spends 500 euros on food or other items that can be obtained for example from the supermarket, he will not receive a subsidy of 50 euros (10% of the monthly expenses) but the 22 euros that he has set in most of the country. This would apply to all categories of beneficiaries, even those who have several protected children and may actually spend much more than the cap set by the relevant amendment.

It should be noted that this subsidy belongs to all family members, not individually. For example, if the family hosts the grandparents, guests cannot apply separately as they did with the Fuel Pass, but the application must be submitted by the spouse, listing all members living under the same roof. This fact may initially indicate that it limits the amount of the subsidy since the guests will not be able to obtain it separately as was the case with the fuel card, but in the end the whole process may develop in favor of the family as the income standard goes up but also the amount of the subsidy will be higher as it is determined By the total number of members living under the same roof.

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According to Mr. Anagnostopoulos, if the beneficiary chooses to pay by digital card, the amount, although it is credited every month, is not necessarily consumed during that month. It remains for posterity as well, until August.

Income – asset standards

For someone to be able to submit an application and be approved, they must meet a series of criteria, the most important of which is not to exceed the income limit set according to the total family members but property. Nor should any member be subject to the luxury living tax. It should be noted that the income that will be taken into account is the income obtained in 2021 and declared to the tax office in 2022, while with regard to the asset criterion, this will result from the objective value of the properties listed in ENFIA last year.

In the event that a person is unmarried, his actual or assumed annual income must not exceed the amount of 16,000 euros, while in the case of a married person without children or a single-parent family with one child, the income limit is 24,000 euros. For each additional family member, whether they are protected children, visiting parents, children, friends, etc., the income limit is increased by 5,000 euros. All amounts declared in the tax return by all members included in it are counted as household income.

As for the maximum property limit, it was set for bachelors at 250,000 euros, and for married and single-parent families at 400,000 euros.

The amount of the subsidy depends on the number of family members

With a maximum purchase dependent on the family members who will apply for a market entry permit, the monthly support amount to be provided is set from February to July 2023. In total for this semester, the minimum support amount is 132 euros and the maximum for large families is 600 euros.

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Beneficiaries will receive all these amounts if they use the immaterial digital card, otherwise if they choose to deposit into a bank account, they will receive 80%, i.e. from 105.6 euros to 480 euros depending on the number of family members.

In particular for individuals, the maximum amount of subsidized monthly purchases is set at 220 € / month, so the market card amount is 22 € / month or 132 € per semester with a non-physical digital card. Accordingly, with a deposit to a bank account, the amount will be reduced by 20%.

In the case of a married person without children or a single-parent family with one child, the upper limit of subsidized purchases is set at 320 EUR/month and the monthly subsidy at 32 EUR or 192 EUR per semester. In this case, the amounts arise if a non-physical digital card is used. Otherwise, it will be reduced to 153.6 euros per semester.

If the beneficiary is married with one child or a single-parent family with two children, the maximum amount of subsidized purchases is up to 420€/month, so the monthly subsidy will be 42€ and the monthly subsidy will be 252€ using a non-physical digital card (201.6€ for way of depositing into an account).

In the case of a married person with 2 children or a single-parent family with 3 children, the maximum monthly subsidized purchase is 520 € and the monthly benefit is 52 € or 312 € per semester. Accordingly, for each additional family member, the maximum subsidized purchase per month increases by 100 € and the monthly subsidy by 10 €