VAT
Economy
Greek State Revenues €500 Mln Less than Expected in July
State revenues from taxes in July were 500 million euros less that the ministry of finance had anticipated, thereby threatening fiscal targets.
While taxpayers paid the first monthly income tax installment as anticipated, revenues from customs were far below expectations....
Economy
Tax Checks on Hotels by Inspectors Disguised as Vacationers
The General Secretariat of Public Revenue is carrying spot checks at 1,545 hotels being investigated for their bookings and cost of night stays. The tax inspectors appear disguised as customers to ensure that hotel fees are aligned to their...
Economy
State Debts to Private Sector in Greece Delay up to 4 Years
While the Greek state is pressing on debtors to repay their dues, state debts to the private sector take up to four years to be repaid, thus creating a liquidity problem in the market.
Businesses wait from one to four...
Economy
Many Goods and Services in Greece Go Up June 1st After Tax Hikes
Greek consumers will see the prices of many goods and services go up as of tomorrow, June 1st, when new excise taxes and VAT raises go into effect.
The tax hikes and new levies are part of the bailout agreement...
Economy
PwC Report: Greece's High Tax Rates Not Reflected in Revenues
Greece's tax system has very high taxation rates that fail to bring in proportionately high revenues, even though the "tax behavior" of its citizens is not significantly different from that of other Europeans, according to a PwC tax summary...
Greece
Defense Minister Calls Island VAT Hike he Voted on 'Criminal' and 'Unconstitutional'
Greek right-wing Independent Greeks (ANEL) leader/Defense Minister Panos Kammenos -- a junior coalition member of the Radical Left Coalition (SYRIZA) government -- fueled controversy with a statement he made on Tuesday while visiting the island of Syros. He said...
Economy
Greece to Impose €1.5 Bln Taxes to Unlock Loan Tranche
The Greek government has to impose 1.5 billion euros in taxes in order to unlock the next loan tranche and the multi-bill was tabled in parliament on Wednesday.
Greek lawmakers have to read the 284-page omnibus bill in three days...
Economy
Government and Institutions' Representatives Agree on Package of Indirect Taxation
The government and the institutions representatives on Wednesday reached an agreement on the 1.8 billion euro package of indirect taxation, according to a government official.
The same source said that this package provides for the increase of the core VAT...
Economy
Greek Islands with Mass Refugee Pressure Could be Relieved of VAT
Greece's Alternate Finance Minister Tryfon Alexiadis left open the possibility of abolishing VAT on Greek islands that are up against the social and economic stresses caused by the mass influx of refugees, while speaking in Parliament on Friday.
Alexiadis also...
Economy
Greek Gov't to Raise Fee on Lottery Games in Place of 23% VAT Rate on Private Education
The Greek government will replace revenue from scrapped plans to impose 23% VAT on private education by raising a fee on lottery games operated by OPAP, according to an agreement reached between Greek authorities and the country’s creditors on...