Minister refuses VAT reduction, food industry pushes back for competitive advantage in global market.

• National Economy and Finance Minister Kostis Hatzidakis refuses to reduce VAT, citing fiscal balance and a focus on encouraging investment over consumption
• President of the Association of Greek Food Industries (SEVT), Ioannis Jotis, requests a reduction in VAT to compete with other countries and pass on savings to consumers
• Hatzidakis plans to review government accounts at the end of the year to ease tax burden, but not necessarily through reducing VAT
• SEVT president criticizes delays in subsidies for investments and highlights the industry’s significant economic contributions

Source: ekathimerini.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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