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Tag Archives: VAT

OECD report: Greece only country that increased taxes, VAT and social contributions in 2016

Greece is defying the prevalent trend among the world’s industrialized nations for reducing tax rates in order to boost investment and competitiveness, a report published by the Organization for Economic Cooperation and Development (OECD) has shown. In contrast Greece has increased labor and corporate taxes, Value Added Tax as well …

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Value Added Tax on fire: Crazy hikes in food & tourism

More than 40,000 food items are been sold with a poisonous 10% Value Added Tax hike as of today and expect to burden the average Greek household with at least 55 euro per month.Beef, coffee, tea, cocoa, spices, sugar, oils – except olive oil, ice-creams, chocolates, but also condoms and …

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Greece bows to Troika’s demands: Hikes in Value Added Tax to hit tourism

Greece’s resistance to Troika’s demand did not last long. Just a couple of days after the negotiations failure in Paris, the country’s lenders e-mailed the Greeks that they should definitely need to impose additional austerity measures and fill the hole of estimated 2.5 billion euro in the budget of 2015.  …

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Outstanding VAT debts: German “Hochtief” owes €600m to Greek FinMin

An Athens court confirmed Greek government’s tax claims from the giant German constructor Hochtief. According to the court, the Greek government has every right to claim approximately €600million from the company that runs Athens airport “Eleftherios Venizelos”. The company has not paid any Value Added Tax since 2001, that is …

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Greek PM to farmers: VAT reduction in agricultural supplies within …the 4 years of his governance

It touches the edge of pathetic when a prime minister of a country wants to please certain professional or society groups but his hands are tight by external forces, while other interests groups are just lurking to jump in and demand similar privileges. Speaking at the Greek Parliament on Tuesday, prime …

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Greek Tourism Minister: V.A.T. in Restaurants/Catering to Decrease in 2013

One by one the governments’ pre-elections promises vanish in the air under the sober reality of yawning state cash registers. The Value Added Tax in the restaurants and other catering businesses will be decreased from 23% down to 13% not this year but … next year. So said Greek Tourism Minister …

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UPD: Famous Greek Journalist Detained for Tax Evasion

UPD: The trial has been set for May 2012, as the journalist told the court that he had already paid one installment of 15,000 euro. Further he said that the day he was detained he had visited the local tax office to arrange a regulation of his debt. (in.gr) Veteran journalist …

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Are Greeks Really Insane? 23% VAT for Salty, 13% VAT for Sweet

More than one month after the implementation of the increased Value Added Tax on catering items and beverages, the Finance Ministry issued an clarifying circular. It is the absurdity that only a Greek official can think of.  News portal NewsItdescribed a simple example: The Bougatsa, a pie made of puff …

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Sovereign Debt : the Pain in Greece’s neck

That’s a huge pain in Greece’s a**… sorry… ‘neck’, I wanted to say: the fiscal situation and the huge debt. That Greece is not going to be able to cope with its debt, currently at over 340 billion euros, is something that even stray cats in Greece know; let alone the stray dogs…  …

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Greek FinMin doesn’t expect Tax and VAT increases….

What do you think when a Finance Minister of a debt-driven country says, he didn’t expect further increases on taxes or VAT? Most likely you think that hikes will happen but not likely in the very-very near future, i.e. this month… 🙂 The 2010 fiscal austerity programme will continue for the …

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Are you ready for the new VAT hikes?

One, two, three weeks… Ready? Go! A new waves of price hikes are going to hit the Greek households as the low Value Added Tax is going to increase from 11% to 13% as of January 1, 2011.These sweeping hikes covering from food items to utilities and from cinema tickets …

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Greek PM Papandreou: We are still in a state of emergency

“We are still in a state of emergency”. In a dramatic tone Greek Prime Minister Giorgos Papandreou spoke about the current economic situation while fore-wording the interview he gave to Greek journalists; an interview broadcasted by all major Greek television channels, 13 days before the upcoming local elections.   Economy Defending …

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