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Pressure intensifies on govt for more radical interventions in energy markets
PoliticsGreek Politicsfor cuts to VAT and the special consumption tax on fuel. Last week the government rejected such proposals... euros to extend the low VAT in catering and transport through the end of the year. Also on its wish... underlines the challenge that the government faces in funding additional measures. Finance Minister
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Newsletter 387 - 30/06/2023
outperformance of 2 billion euros up to May thanks to VAT and income taxes beating targets. However, the government in the previous term came under increasing pressure to lower VAT rates and resisted... Hatzidakis, the Finance Ministry will have control over all funding and financing programmes
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Newsletter 428 - 21/06/2024
was to bring prices for consumers down. Mitsotakis added the government had decided to maintain low VAT... political commitments. In addition to the targeted VAT freeze, Finance Minister Kostis Hatzidakis... if the funding is to have the desired effect. There is room for improvement in the business environment
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OECD sees 3.3 bln euros of savings Greece can make by cutting red tape
EconomyMacroeconomyyear. Over three-quarters of these costs accrue in three of the priority areas, namely tax (VAT... for tax law (VAT) form the largest proportion (47 percent) of administrative burdens amounting to 1.54 billion. The key recommendations include: Remove inactive VAT taxable persons from the VAT
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Gap of 555 mln emerges in three key taxes in July ahead of a crucial September for revenues
EconomyMacroeconomy) provided an update on the collection of key taxes, namely personal and corporate income tax and VAT... of the year were fairly insignificant. The collectability rate of VAT also stood at relatively high..., punctual payments of VAT resulted in revenues of 5.57 billion euros, corresponding to 84.5 percent
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A closer look at Greece's revised proposals to lenders
EconomyProgrammefrom VAT reform of 680 million euros in 2015 and 1.36 billion in 2016. The latter is higher than... VAT rate from 6.5 to 6 percent and a reshuffling of products and services in the other two VAT rates of 13 and 23 percent. The new low VAT rate of 6 percent will cover only medicine, books and theatre
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No let up ahead in terms of fiscal demands for new Greek government
EconomyProgrammemilestones for the first programme review. In mid-July, the government legislated a VAT reform aiming to generate annual revenues of 1 percent of GDP. The basic VAT rate was set at 23 percent, a super... percent for basic food, energy, hotels and water. In addition, the 30 percent discount on VAT rates
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Newsletter 49 - 30/10/2015
residences from foreclosure, VAT on private education and pharmacy ownership. On the foreclosures front... pending issue relates to the imposition of 23 percent VAT on private education, which has created much..., but a 6-percent VAT rate would apply in private tuition schools, music and 13 percent in non-state schools
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Special tax structure would benefit hotels and jobs, bank argues
EconomyFeaturesin recent years, heavy taxation, especially VAT, remains a problem. In October 2015, a new rate of hotel VAT... of the VAT increase has been absorbed by the hotels in order to remain competitive, with just a small... services are subject to 13 percent VAT. Food and beverage plus other services sold to clients incur
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Health service weakness highlighted as Covid deaths hit record high and research points to ICU disparity
PoliticsGreek Politics. This finding is particularly significant because the issue of deaths outside ICUs was the subject of heated... is not conducive to building effective intensive care teams. Another significant finding from the academic... in the academic paper lends its findings greater weight. The research covers the period from September 1
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