Greece has the highest VAT rates in the Eurozone, study finds
Greek households are one of the most burdened in Europe, a Tax Foundation study on VAT rates has found in a report.
According to the report, Greece is in the 1st spot in the Eurozone, with a 24% base rate, along with Finland. Compared to all EU members, Greece is in fifth place.
The EU countries with the highest VAT rates are Hungary (27%), and Croatia, Denmark and Sweden (25%).
Luxembourg imposes the lowest VAT rate (17%) followed by Malta (18%), Cyprus, Germany and Romania (19%).
The EU average VAT rate is 21%, six points higher than the minimum VAT rate required by EU regulation.
According to the European Commission, the increase in VAT rates in previous years has deepened the revenue gap. About 6 billion euros are lost in Greece each year due to non-payment of VAT.
You may be interested
Pakistani gang leader arrested by Greek policemakis - Nov 27, 2020
The Pakistani leader of a gang, whose knife-wielding members broke into an apartment in Kaminia last Saturday and slaughtered a…
These blood types have a lower risk of contracting Covid-19Panos - Nov 27, 2020
New research adds to the growing body of evidence that people with blood type ‘O’ may have a lower risk…
Former New York Times reporter blasts Amazon for censorship over Covid-19 masksPanos - Nov 27, 2020
Former New York Times reporter Alex Berenson has slammed Amazon for attempted ‘censorship’ after the company backed down from its…