Finance ministry: First VAT cuts to take effect on Mon.
The finance ministry on Thursday afternoon announced that reductions in certain categories of VAT rates will come into effect on Monday, a week before a European Parliament election.
The first roll back of a “tax tsunami” unleashed by the current Tsipras government in 2017 – in order to meet creditor-mandated annual fiscal targets – will see the VAT rate on basic food items drop from 24 percent to 13 percent – where it stood in 2014.
Also, the VAT rate in the F&B sector will fall to 13 percent, excluding alcohol, coffees, soft drinks and juices.
Another decrease will see the VAT rate on energy also drop to 13 percent, from 24 percent, returning to a “pre-SYRIZA” level.
You may be interested
Mitsotakis at the UN: I extended a hand of friendship to Erdogan and he responded with provocations & aggression (video)makis - Sep 25, 2020
The Greek Prime Minister Kyriakos Mitsotakis addressed a speech at the 75th Session of the UN General Assembly where he…
Independent: Turkey is the biggest threat to Europe today, and the Greeks need our helpPanos - Sep 25, 2020
Later this week, EU leaders will meet to discuss their recovery plan. They will spend a few minutes on Brexit.…