Thursday , May 23 2019
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Greek gov’t to go to May elections with VAT and income tax reductions

The Greek government is reportedly preparing a package of positive measures to sweeten voters ahead of the European an municipality elections in May. The package may include reduction in direct and indirect taxes, including the unified property tax ENFIA.

According to Greek media, the package of measures that allegedly focus on tax relief was discussed at a meeting between Prime Minister Alexis Tsipras and Finance Minister Euclid Tsakalotos on Wednesday.

The measures could be permanent and some one-off and they would be announced after the Greek Orthodox Easter on April 28, 2019.

One of the measures would be a generous discount to those paying their taxes up front and in full.

There is also talk for reductions in Value Added Tax, reduction on basic income tax rates and additional corrections in the calculation of ENFIA which would reduce the tax for property owners.

It is apparently the primary surplus of 2018 that would allow the government to proceed with such radical measures as tax relief.

I have no idea what Greece’s creditors think of the government plans but their technical teams are expected to be in Athens beginning of May.

PS I don’t know if the package will be announced and will include all these reductions, but of it does it will be the first time in 10 whole years that Greeks would be asked to give less to the state.

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