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  1. The key points from lenders' proposals to Greece

    EconomyProgramme

    corresponding to 3 billion euros for 2015. The first key measure involves reforming VAT with the introduction of two VAT rates at 11 and 23 percent replacing the currently applied 6.5, 13 and 23... that the VAT reform targets a revenue increase by 1 percent of GDP or 1.8 billion on an annual basis

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  2. Newsletter 29 - 05/06/2015

    Newsletters

    this year. Those measures mainly involve introducing a new VAT rate of 11 percent for to include... a cut in both supplementary and primary pensions. new VAT rates should produce additional revenues of 1... anticipated at that time. Those measures mainly involved increasing the hotel VAT rate from 6.5

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  3. Greece deal hangs in balance as IMF sees major differences
    Photo via IMF photostream on Flickr [https://www.flickr.com/photos/imfphoto/]

    PoliticsGreek Politics

    was due to have been implemented at the start of the year. VAT On the tax front, the IMF spokesman... that the Greek government should broaden the tax base, highlighting that the “VAT structure is highly complex.” Lenders have been pushing Greece to implement just two VAT brackets, instead of three, while also

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  4. Where the key differences between Greece and the institutions lie

    EconomyProgramme

    of disagreement relate to VAT, pensions and fiscal measures and to a lesser extent labour market. VAT On VAT, the headline figures indicate a tiny difference of 0.07 percent of GDP with institutions... in the three VAT rates, the two sides differ in the two upper rates of 13 and 23 percent

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  5. No time for Tsipras to celebrate as long list of tasks means pressure is on from start

    EconomyProgramme

    emerged relates to the imposition of a 23 percent VAT rate on tuition fees at private schools and tuition centres, a measure voted in the Parliament on August 13 to counterbalance the lowering of the VAT rate on beef. According to the General Accounting Office, this particular VAT revenue

    9%

  6. First visit by quadriga to Athens leaves series of issues unresolved

    EconomyProgramme

    of prior. Fiscal A key issue on the fiscal front relates to VAT on private education, with the quadriga sticking to the European Commission (EC) directive calling for either zero VAT or the regular rate... proposal and the one that was legislated in mid-August imposing a uniform VAT rate of 23 percent on all

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  7. Budget execution improves significantly in Oct, primary surplus reaches 4.53 bln

    EconomyMacroeconomy

    by 14.3 percent to 2.19 billion euros with VAT up 10.6 percent to 1.46 billion and consumption taxes soaring 31.6 percent to 654 million. VAT revenues in particular reached 1.46 billion in October from 1-1.1 billion in the preceding two months and reflect the quarterly VAT payment for the majority

    9%

  8. The pension and revenue interventions Greece has to make to meet its 2016 fiscal target
    Photo via Greek Finance Ministry

    EconomyProgramme

    the fiscal target of 0.5 percent of GDP. The key ones are: 1) VAT streamlining (900 million) following the reshuffling of VAT rates last July and the abolition of the 30 percent discount of VAT rates... column on OPAP games (190 million), a measure decided in November to offset the non-imposition of a VAT

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  9. New overdue taxes climb 1.4 bln in Aug, total stock edges up to 91.6 bln

    EconomyMacroeconomy

    on the evolution of key taxes showed VAT created a gap of 155.89 million since 894.15 million were paid.... Overall, collected revenues from VAT and corporate income tax were around 245 million lower than those due... to VAT, almost 400 million to personal income tax, 340.9 million to ENFIA and 191.3 million

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  10. New overdue taxes jump by 1.35 bln in Sept, driving total stock to 92.8 bln
    Photo by MacroPolis

    EconomyMacroeconomy

    taxes: VAT, single property tax (ENFIA), personal and corporate income tax. Personal income tax created... of this year was due to be paid. VAT created a revenue gap of 97.1 million euros in September. Its... in the 9-month period: 1.28 billion relates to VAT, 790 million to personal income tax, 502 million

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