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Capital controls trigger big rise in card use and VAT revenues, Bank of Greece data shows
EconomyMacroeconomyThe significant increase in the use of debit and credit cards after the imposition of capital controls in July 2015 is having a positive impact on VAT revenues by improving collectability, the Bank..., the recent rise in the VAT rate is having a negative effect on VAT revenues and the BoG suggests
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Proposed VAT overhaul a stepping stone towards agreement with lenders?
EconomyProgrammeare carried out via debit or credit cards. Otherwise, the VAT rate on those products will stand at 9.5...Greece and its lenders are broadly in agreement on the restructuring of Greece’s VAT system, which... night, explaining for the first time in public what the new VAT system might look like. Greece has
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Newsletter 27 - 22/05/2015
issues such as macroeconomic projections, fiscal targets and VAT rates have yet to be settled... rebellion. suggestion of a dual rate for VAT, depending on the payment method. Finance Minister Yanis Varoufakis’s proposal that customers paying by card should receive a VAT discount was apparently
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If rising card use in Greece meets EU average, VAT revenues would see 3.3 bln boost - study
EconomyMacroeconomyEnhanced credit card usage in Greece could capture revenues that exceed the annual inflows from... percent increase of value or number of card transactions resulted in an average increase of VAT... 1 ppt increase of card use as a share of private consumption increased VAT revenues by 1.4 ppt
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VAT gap remains high as non-compliance overtakes revenue rise
EconomyFeaturesThe European Commission's VAT Gap report has revealed that tax revenues in Greece increased in 2017, but this did not close the gap between expected and actual VAT revenues. Instead, non-compliance with VAT grew to effectively outstrip the increase in tax revenue. The VAT gap is a measure of VAT
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Newsletter 224 -25/10/2019
before the end of the year. Third year or fiscal surplus confirmed for 2018 Athens awaits credit rating... further positive news from S&P on Friday night, when the agency is due to publish its credit rating... the inclusion of the private sector. Deputy Labour Minister Notis Mitarakis receive on Monday the study
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VAT revenues up in 2016 but rate hikes fail to close gap of 29 pct
EconomyFeaturesThe European Commission's VAT Gap report has revealed that high rates of VAT in Greece appear... of the European Union countries surveyed, Greece fared among the worst in terms of its VAT shortfall, at 29.2 percent or 5.9 billion euros. The figures are based on data from 2016. The VAT gap is a measure
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VAT gap of 30.1 pct in 2018 keeps Greece among worst performers in EU
EconomyFeaturesThe European Commission's VAT Gap report has revealed that the European Union lost an estimated 140 billion euros in Value-Added Tax (VAT) revenues in 2018, equal to a total revenue loss of 11 percent across the EU, with Greece ranking among the worst performers. The VAT gap is a measure of VAT
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EC study: VAT gap in Greece at 34 pct, more than double the EU average
EconomyThe European Commission published a study on Friday that examines the evolution of the VAT gap across the EU according to the latest available data for 2013. The VAT gap is defined as the difference between the amount of VAT that is actually collected and the estimated VAT amount
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What this week's VAT changes mean for household budgets and public coffers
EconomyProgrammeincluded a large reshuffling of VAT rates. The new basic VAT rate was set at 23 percent, while.... Although VAT rates remained broadly stable, the key changes relate to reshuffling of products and services among the three VAT categories. The super-reduced rate includes only pharmaceuticals, books
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