Government seeks € 300 million worth of alternative measures

29 October 2015
199 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

Greek gov’t goes to pot
FINANCE
shares36 views
FINANCE
shares36 views

Greek gov’t goes to pot

Panos - Jan 17, 2018

Greece's parliament is expected to approve the medical use of cannabis in the coming weeks, a deputy minister said Sunday,…

Lefteris Petrounias declared Male Gymnast of the Year
GREECE
shares69 views
GREECE
shares69 views

Lefteris Petrounias declared Male Gymnast of the Year

Panos - Jan 17, 2018

Lefteris Petrounias and the Greek gymnastics team were among the top winners at the European Federation Awards on Monday, receiving…

BoG Gov. Stournaras: Central bank has an obligation to publicly warn about risks
FINANCE
shares44 views
FINANCE
shares44 views

BoG Gov. Stournaras: Central bank has an obligation to publicly warn about risks

Panos - Jan 17, 2018

Influential Bank of Greece (BoG) Gov. Yannis Stournaras on Tuesday reiterated that the country's central bank has an obligation to…

Leave a Comment

Your email address will not be published.