Government seeks € 300 million worth of alternative measures

29 October 2015
28 Views

The coalition government is seeking out alternative measures worth 300 million euros in order to avoid imposing a 23% VAT rate on private education. Time is short though, since the Euro Working Group is to examine the progress achieved so far in the implementation of reforms, with a 2-billion-euro tranche at stake.

In order to avoid the controversial 23% VAT in private education, the government is considering raising the road tax. In order to cover the estimated revenue of 300 million euros though, the government would have to raise the road tax by 30%, which is considered practically impossible.

As such, the government is considering raising other taxes, such as the special consumption tax for tobacco and alcoholic beverages, as well as tolls. The introduction of a special contribution tax on business profits has also been put on the table. The government has rejected raising the VAT on beef (from 13% to 23%), since keeping that tax low was one of the reasons of decided to introduce a VAT in private education in the first place.

You may be interested

Big stock investors establish Greek foothold in patient bet
FINANCE
shares32 views
FINANCE
shares32 views

Big stock investors establish Greek foothold in patient bet

Panos - May 25, 2017

Big money managers have started buying cheap Greek stocks from banks to lotteries as clouds over talks between Athens and…

5 Reasons to visit Folegandros in Greece
GREECE
shares35 views
GREECE
shares35 views

5 Reasons to visit Folegandros in Greece

Panos - May 25, 2017

Small but multi-faceted, Folegandros offers plenty of variety to travelers despite its size. Folegandros, is a small Greek island in…

Michael Landy Is Uncovering the Real Athens by Drawing It Hundreds of Times
ART
shares34 views
ART
shares34 views

Michael Landy Is Uncovering the Real Athens by Drawing It Hundreds of Times

Panos - May 25, 2017

It’s not easy staging an art exhibition in a country with a 23 percent unemployment rate and possible bankruptcy on…

Leave a Comment

Your email address will not be published.