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Deputy Finance Minister Christos Staikouras announced the tax reduction for companies and households in the debt-ridden and austerity-hit Greece. In an interview to daily Typos tis Kyriakis Staikouras heralded the Greek fiscal progress in lenders' imposed austerity program and said that "meeting of the objectives launches the tax rates reduction."

Greek Deputy FinMin: tax reductions for companies and households

Deputy Finance Minister Christos Staikouras announced the  tax reduction for companies and households in the debt-ridden and austerity-hit Greece. In an interview to daily Typos tis Kyriakis Staikouras heralded the Greek fiscal progress in lenders’ imposed austerity program and said that “meeting of the objectives launches the tax rates reduction.”

The Deputy Finance Minister admitted that the excess of last year’s fiscal targets and the primary surplus resulted in huge cost for the Greek society, but he asserts that the improvement reflected in the numbers will be felt in the real economy and the citizens .

“The achievement of this year’s fiscal target and integration, even more, of the ” missing ” portion of the economy in its “visible” field can launch the reduction in tax rates for businesses and households, as this will be foreseen in the adjusted program of fiscal policy” Staikouras said.

 

To tell you the truth I did not understand much of what exactly Staikouras said even in Greek. But I did understand two things:

1. the tax rates reduction

2. the vagueness of the announcement, as he did not say when this will happen and if the Troika will turn on the green light for such a move.

Last week the tax reduction plan was leaked to the press in the context of development model “Greece 2021”.

PS While Greeks enjoy their Sunday roast, they wonder whether the tax reduction will occur in 2015, 2016, 2017, 2019, 2020 or 2021, and some mean individuals among them dare to claim that this is kind of pre-election firework.

 

 

 

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