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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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Greece moves closer to troika over fiscal gap, waits for response
EconomyProgrammeciting government sources indicate that the key measures relate to increasing the VAT rate on hotel...) said that doubling the VAT rate in its sector would initially increase VAT revenues by 300 million... that the resulting higher cost for hotel services from the rise of VAT to 13 percent would lead to 2.6 million
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Greece prepares reforms list, eyes solution to liquidity shortage
EconomyProgrammetransactions and reduced VAT collection. The list also includes the already passed instalment scheme... is reforms in the VAT policy. Citing Finance Ministry sources, Kathimerini notes that the government is examining two scenarios: The first envisages a unified VAT rate of 15 percent with abolition
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New fiscal measures aim to edge Greece closer to deal with lenders
EconomyMacroeconomythat the government is currently considering to cover the estimated fiscal gap involve: 1) A unified VAT rate between... to food and medicines. Greece currently has two main VAT rates of 13 and 23 percent and a lower rate... in almost all products and services, while the reduced VAT rates in islands will probably be abolished
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How big is the gap separating Greece and the institutions?
EconomyProgramme, it is clear how difficult a task it will be to reach a compromise. VAT On VAT, the institutions insist... to this year since the new VAT rates will be effective from July 1. Apart from the total estimated proceeds, a key difference lies with the allocation of products in the VAT rates. In particular
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Newsletter 32 - 26/06/2015
to Thursday’s meeting of eurozone finance ministers. Starting from VAT, the institutions demand net.... However, the key differences relate to the reshuffling of products and services in the three VAT... proposes it apply to food, water and hotels. Another thorny issue lies with the 30 percent VAT discount
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This is what's in the legislation Greece has to approve by Wednesday night
EconomyProgramme. These measures relate to VAT and tax issues and the legal independence of the Hellenic Statistical.... VAT On VAT, the draft bill sets the new basic rate at 23 percent. For pharmaceuticals, books..., while hotels VAT rate previously at 6.5 percent doubles to 13 percent. The abolition of the 30
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Newsletter 48 - 23/10/2015
participation can be expected in the second half of November. Few lessons learnt in school VAT mess SYRIZA now... this week as the haphazard way in which the government handled the issue of imposing VAT on private... lenders, the coalition finally decided to apply a 6 percent VAT rate for private tuition schools
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