24% hike in VAT to be applied earlier than scheduled

17 May 2016
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With the new package of measures that the Greek government is ready to pass, it will impose permanent austerity to Greeks, instead of easing austerity and preparing Greece to exit economic crisis and return to growth.

Following the social security and tax bills, the government is in a hurry to prepare and pass the pending measures required by Greece’s lenders until next Eurogroup meeting that will take place on Monday.

Therefore, SYRIZA-ANEL government will submit the next measures of indirect taxes of 1.8 billion euros to be voted over the weekend, while it still needs to fulfill 17 prior actions in order to conclude the first program review and receive the next tranche.

According to recent information, tax on beer gets double, there will be a price increase by 20% for coffee and electronic cigarettes, increase in fuels, tax on pay TV and landline phone bill, while VAT hike will be applied as of June 1, instead of July 1.

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