OECD: Greece the only country to raise VAT in 2016
Tax Policy Reform report showed Greece had the highest rate of social security contributions
Greece is the only member of the nations in the Organisation for Economic Cooperation and Development (OECD) that hiked taxes in 2016, according to the body’s Tax Policy Reform report. The data revealed that Greece was the only nation to raise the basic VAT coefficient from 23% to 24%, while also burdening single employees by an average of 1%. The report stressed that all European countries included in the report had budgeted lower tax revenues with the exception of Greece. Greece also came first in terms of social security contributions due to the Katrougalos law.
The report recorded changes in personal income tax, social security contributions, corporate income tax, Value Added Tax, excise duties, environmental taxes and property taxes per country.
You may be interested
Lotto results: Saturday 21 July 2018Panos - Jul 21, 2018
The winning numbers from the Lotto draw on Saturday 21 July 2018 are as follows:
The miracle berry that fueled Alexander & his Macedonian Army’s conquestsmakis - Jul 20, 2018
Scientists say that a superfood berry was widely consumed by Alexander the Great and his Macedonian army as they set…
14 injured in northern German city after knife attackmakis - Jul 20, 2018
A man has reportedly used a knife on a bus and injured at least 14 more people injured after a…