Greeceās taxation system needs, among others, more efficient revenue collection and better VAT compliance, the European Commission said in its annual report on tax reforms in EU member-states presented on Monday.
According to the report, the VAT compliance gap in Greece exceeds the EU average; however, it is possible to improve tax compliance. In the telecommunications sector, in particular, Greece could improve the efficiency of the VAT system, by limiting the use of reduced rates and non-mandatory exceptions and by broadening the VAT base.
Concerning the other member-states, the Commission states that progress has been made in improving their taxation systems, but most countries still face significant challenges and must continue their efforts.
(source: ana-mpa)
See all the latest news from Greece and the world at Greekreporter.com. Contact our newsroom to report an update or send your story, photos and videos. Follow GR on Google News and subscribe here to our daily email!
