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Newsletter 105 - 03/02/2017
month. Around one third of the overdue taxes from 2016 stemmed from four key taxes: VAT, personal
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Revenues reach 4.3 bln in January, beating target by 258 mln
EconomyMacroeconomyexpected revenues from corporate income tax (by 491 million), VAT (by 303 million), consumption
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Athens gears up for deal with lenders, pending news from IMF
PoliticsGreek Politicsthat the government hopes to gain from a possible deal with the institutions is the lowering of some taxes (VAT
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IMF sees much scope for reform progress, particularly on tax in Article IV report
EconomyProgramme, the personal income tax rate to 15-20 percent and the top VAT rate of 24 percent by 1 percentage point
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IMF examines where programme went wrong, what lessons were learnt
EconomyProgramme) with pension expenses rising significantly relative to GDP. In addition, VAT rate hikes may have
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Progress rather than breakthrough the target at Eurogroup
PoliticsGreek Politicsthat the government has in mind include reducing VAT, corporation tax, the ENFIA property tax and increasing social
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Bill for out-of-court workout ready but may need tweaks
EconomyProgrammeof creditors is required. The draft law also foresees debt related to VAT and withheld tax on wages being
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Effort begins to secure SYRIZA support for deal with institutions
PoliticsGreek Politicsexpressed keen support for a reduction in the ENFIA property tax, as well as cuts to VAT on basic
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Tsakalotos appears but gives little away about negotiations with creditors
PoliticsGreek Politicsthe ENFIA property tax and VAT on a range of products and services, will be contingent upon the fiscal
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Budget primary surplus at 1 bln in Jan as tax revenues outperform
EconomyMacroeconomyarrears. Specifically, VAT increased by 3.4 percent to 1.45 billion, but came in 55 million short
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