Κάλυψη τεκμηρίου
English translation: Meeting (or coverage of) imputed taxable income
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| 17:10 Jan 29, 2013 |
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| Greek to English translations [PRO] Law/Patents - Law: Taxation & Customs / Κάλυψη τεκμηρίου | |||||||
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|  Selected response from: Peter Close Local time: 13:55 | ||||||
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| Summary of answers provided | ||||
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| 4 | Meeting (or coverage of) imputed taxable income |
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| 4 | (to) substantiate presumed expenditure/assets |
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| 3 | wife's expenses |
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| Discussion entries: 4 | |
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Answers
1 hr confidence: 
wife's expenses Explanation: I suppose, going by the whole phrase,*Κάλυψη τεκμηρίου αγοράς της συζύγου με εισόδημα του συζύγου...*, it just means, 'wife's expenses' or 'expenses for wife', money the husband paid out of his own A/c..Thats how I would put it in the UK. But, then, it may be different in Greece!!!! |
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13 hrs confidence:
Meeting (or coverage of) imputed taxable income Explanation: This is the meaning given in the Λεξικό Λογιστικής με Όρους Χρηματοοικονομικής, Φορολογικής και Ελεγκτικής του Κων. Κάντζου -------------------------------------------------- Note added at 14 hrs (2013-01-30 07:17:05 GMT) -------------------------------------------------- See also: http://www.gsis.gr/forologikos_odigos/xrisimes_plirofories/g... http://greece4life.com/taxation-of-individuals -------------------------------------------------- Note added at 16 hrs (2013-01-30 09:38:57 GMT) -------------------------------------------------- Such expenses may be: a) imputed, that is, expenses presumed to have been incurred by the taxpayer on the basis, at first, of ownership or possession of certain assets, e.g. expenditure on the basis of the paid or imputed rental (owner-occupancy) for a secondary residence in Greece over 150 square meters, expenditure on the basis of ownership or possession of a private passenger car or aircraft, etc., b) real expenses, that is, on the basis of the expenses for acquisition of assets, granting of loans, donations, repayment of loans, etc. It is clear that, in respect of residents abroad, a criterion for the application of the aforesaid presumptions (imputed-real expenses) to them is either that the said expenses are incurred in Greece or the object of the transaction, etc. is located in Greece or services are rendered in Greece and, in general, that there is a relation, in any manner, between the expense or its object and Greece. Imputed versus actual income Legal provisions designed to prevent tax evasion specify that individuals are taxed on their declared income or imputed income, whichever is highest. Income is imputed on the basis of living expenditure or acquisition of certain assets. The main factors considered in imputing income from living expenses or acquisitions are the engine size of owned motor vehicles, repayment of loans or credits, the purchase of real estate, the construction of buildings, the cost of operating pleasure boats, aircrafts and helicopters, rent paid and deemed rental income for primary residence exceeding 200 sq.m. and for a secondary residence exceeding 150 sq.m. in size, the construction maintenance and use of a swimming pool and similar expenditures. Income thus imputed will constitute taxable income if it is more than 20% of the declared family income (that of the taxpayer, his spouse and his dependants), unless there is evidence that the difference between the imputed income and the declared income is covered by borrowing, or savings that have been taxed or exempted from tax in the past, from gifts which have been subjected to or exempted from gift tax, from income taxed abroad (or exempted) and imported to Greece, and the like. Example sentence(s):
Reference: http://en.wikipedia.org/wiki/Imputed_income Reference: http://wiki.answers.com/Q/What_is_imputed_income |
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3 days 18 hrs confidence:
(to) substantiate presumed expenditure/assets Explanation: in accordance with the "τεκμηρίο" the declared taxable income must be enough to substantiate specific assets/expenditure In this case the husbands taxable income is enough to substantiate the presumed taxable expenditure of his wife The Greek taxation system uses "τεκμηρία" in an effort to combat tax evasion ......."τεκμηρία" are taxable items whereby the govt presumes that you must have a specific income in order to be able to afford them. i.e. if you have a larger car (over 2000 c.c.) the govt. presumes that your income is higher than that of another tax payer who has a smaller car (less than 2000 c.c.), and subsequently you are expectedto declare a larger income. If you don't, the "τεκμηρίο" will be taken into consideration and you will be taxed accordingly. In the past businesses have been taxed based on "τεκμηρία" such as the actual size (in sq. metres) of their shops and whether or not they have employees, and the actual number of employees, and not just on the actual amounts declared. Example sentence(s):
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