Prime Minister George Papandreou yesterday ruled out additional increases in value-added tax, saying the government will find alternative ways to boost revenues.
“There has been of course the possibility of [tax on] some products being raised but we’re seeing if we can find other ways of getting revenues rather than raising that further,” Papandreou told Reuters yesterday, during a weeklong trip to the US. Right now, the prime minister added, the government says, “‘No’ to raising VAT.”
Instead, in order to broaden its tax base, the government wants to fight tax evasion. It is also considering cutting taxes in some areas to stimulate investment and support economic growth, Papandreou said.
Greece has introduced a tough austerity program to fight its debt crisis, raising taxes and cutting public servants’ wages and pensions in exchange for a bailout package from the European Union and International Monetary Fund.
Local press reported yesterday that Greek Finance Minister Giorgos Papaconstantinou held talks with his German peer on extending the repayment period on the three-year loan. The German Finance Ministry denied that any such discussion took place.
News source: Ekathimerini link: article
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