“Improve collectibility rather than raise the VAT”

1 June 2016
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The government’s aim should be to improve the collectibility of taxes, rather than raising the VAT, argued the president of the National Confederation of Hellenic Commerce (ESEE) Vasilis Korkidis.

According to the ESEE president, this will be the sixth overall VAT hike in six years and second in the past 10 months, which he argued is having a serious impact on trade and public revenue.

In his statement Korkidis cited the European Commission, which notes that raising the VAT during a recession and poor economic performance will result in even lower tax revenues.

This latest VAT hike, he further explained, will lead to higher consumer prices, since businesses are no longer in the position to absorb the increase.

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