The government, due to inflation, which continues to gallop, is preparing a new one Market Pass.
For the extension of the Market Pass as well as the changes that will arise, stated the Deputy Minister of Finance, Haris Theocharis.
Mr. Theoharis spoke to SKAI about the economic measures announced by the Prime Minister, clarifying that the support measures have a horizon of ending at the end of the year, and adding that the extension to the Market Pass cannot be extended to 2024. However, left the window “open” for Market Pass to be extended until December 2023. In fact, according to Mr. Theoharis, additional measures will be taken to combat accuracy.
He explained that only new beneficiaries will apply, while the details of the old ones will be updated automatically. “It is very important to continue the measures for as long as necessary, as the Prime Minister said. As is the EU framework, these measures are set to expire at the end of the year. For the next few months we have the option of extending the Market Pass. However, it cannot be extended to 2024”, said the Deputy Minister of Finance.
“The 2nd is to take into account the new applications, there are people who had incomes and now they don’t, others who didn’t have incomes and now they do. The discussion I will have with the AADE and the Ministry of Digital Governance is to consider that these applications have been made and to open the system for those who want to apply. Those who applied will have their details updated automatically. This means that everyone should rush to their accountants, let’s not leave it to the last minute,” he added.
What is waiting to be answered is whether the new or the old tax returns will count in the income criteria. It is noted that the stores where consumers can redeem the Market Pass money are the following: Grocers, supermarkets, butchers, pastry shops, dairy shops, bakeries, as well as various food shops.
#beneficiaries #criteria
Analysis: Understanding the New Market Pass and Its Implications
As I read through the latest news article regarding the government’s plans to introduce a new Market Pass, I couldn’t help but think of the broader economic context and the significance of such a move. According to the article, the government is preparing a new Market Pass in response to the ongoing inflation crisis. The Deputy Minister of Finance, Haris Theocharis, has revealed that the extension of the Market Pass is on the cards, along with some changes that are expected to come into effect.
To better understand this development, I turned to some recent news articles that provide insight into the Market Pass scheme and its extensions.
A recent article from taxsaviors.gr [[1]]reported that the application process for Market Pass beneficiaries has been extended until January 8, 2024, for the months of August, September, and October 2023. This extension is a clear indication that the government is committed to supporting its citizens through these challenging economic times.
However, it’s essential to note that the concept of a Market Pass or extension is not unique to this particular context. For instance, Golden Pass LNG has recently asked US regulators for a three-year extension to complete the construction of its liquefied natural gas export project in Texas [[2]]. This example illustrates that extensions and revisions to existing plans can be a common practice in various sectors, including energy and finance.
In another context, the expiration of the 2018 Farm Bill extension has sparked concerns about its implications for the agricultural sector [[3]]. This development highlights the importance of timely renewals and revisions to existing policies to avoid disruptions and ensure continuity.
In the current economic climate, the introduction of a new Market Pass can be seen as a positive move by the government to alleviate the pressures of inflation on its citizens. The extension of the Market Pass, as announced by the Deputy Minister of Finance, suggests that the government is committed to providing support to those affected by the ongoing economic challenges.
However, it’s crucial to consider the broader implications of this move and the potential changes that may arise from the new Market Pass. As the government navigates the complex economic landscape, it must balance the need to provide support with the necessity of ensuring fiscal sustainability.
the introduction of a new Market Pass and the extension of the existing scheme can be seen as a positive development in the government’s efforts to combat inflation and support its citizens. However, it’s essential to closely monitor the situation and consider the potential implications of these changes to ensure that they align with the government’s long-term economic goals.
References:
[[1]]https://taxsaviors.gr/en/the-application-process-for-all-market-pass-beneficiaries-is-extended/
[[2]] https://www.reuters.com/markets/commodities/golden-pass-lng-asks-us-regulator-3-year-extension-complete-construction-2024-08-29/
[[3]]https://farmpolicynews.illinois.edu/2024/10/2018-farm-bill-extension-expires-what-does-that-mean/
