We want to lower taxes but we can't lose state revenue

Minister Venizelos has declared he is open to all scenarios of decreasing taxes for business owners, employees and all owners of property in the new tax reform due this September.

All taxes are currently under re-evaluation; “everything is on the table” said the Minister characteristically. But there are certain prerequisites set by the Minister:

-the state should not lose rvenue, so every proposition for a tax decrease will have to have an opposite proposition to counteract the loss of profit, bringing in revenue from other sources. He mentioned the example of VAT: should it be decreased from 23% to 20%, the state stands to lose 1,8 billion euros so there must be a way to find this 1,8 billion from another source.

-increase of revenue from primary rather than secondary taxes.

Propositions from economists and accountants are more than welcome, said the Ministry, and the email is forologikosdialogos@minfin.gr, with the deadline being the 20^th of August.

The first draft of the new tax plan must be ready for the Troika on September 15th. while the final legislation will be put to a vote in Parliament in October.