Elimination of all benefits and tax-free thresholds for underage children

All family allowances and tax-free thresholds for each additional dependent child will be eliminated from 2013. The major losses will befall large families and the taxpayers who lose an additional tax-free threshold for every child from 01.01.2013 (2,000 euros for the first and second child, 3,000 for the third, etc.).

Instead of these, the government is planning to issue targeted bonuses for every family with children (even if they only have one or two) that will be paid directly by the tax authorities and not by OGA, the prefectures etc.

A finance ministry member said the new system is "fairer and more effective" because it will be applied under income criteria, and added that those who have acquired the right under Loverdos’ law will be exempted from the 2-year increase in the retirement age.

A senior member of the economic team said the new tax measures are designed to apply from 2014, based on the 2013 income statements, and that the Troika is asking for more clarifications "not only for the 2 billion euro measures but for many more", hinting at a new meeting with their representatives tomorrow.