The government has decided to change policy regarding a VAT increase. The initial goal was to raise the VAT from 13% to 23%, However, such a measure would be detrimental to the markets and enterprises which have to pay double VAT through their invoicing and their regular taxation.
Deputy Finance Minister P. Oikonomou proposed a new plan leaving aside the increase in VAT, seeking to find more flexible ways and recommending that this measure be reexamined by Parliament.
The government intends to reduce the Vat from 23% to 20% regarding clothing, fuels, shoes, etc.
The VAT regarding provisions and invoicing is to be reduced from 13% to 10%.
The government also intends to repeal 6,5% VAT concerning medicines, hotels, books, cinema, etc.
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