VAT news tagged as "ECB"


Greece reduced VAT updates

August 26th, 2015

Further updates have been provided in the VAT Law following the recent Greek reduced VAT rate rises. The increases were part of the settlement reached by the Greeks with its creditors (the ECB, IMF and EU) to commence negotiations on a new bailout. VAT changes include: Fee-paying schooling is no longer be VAT exempt since July …


Greece VAT compromise failed to save bailout

June 29th, 2015

Greek bail out talks broke down this weekend despite a compromise by the IMF on modified VAT rises.  There will a state referendum on the terms of the bail out on Sunday 5th July, although the other members of the Eurogroup and the ECB have now withdrawn financial support of the illiquid Greek banks. Last …


Greek VAT rise debate

April 6th, 2015

A potential Greek Value Added Tax increase is being discussed between the government and International Monetary Fund. The rise is seen by the IMF as one of the key reforms required for Greece to reach its tough Euro currency bail out terms. Greece is due to make a €14bn repayment to the IMF this week. …


Spain to resist Central Bank and EU calls for VAT rise

June 30th, 2014

Following this week’s announcement of corporate and personal income tax rate cuts in Spain, the government has said it will not increase the Spanish VAT main rate following separate comments by the Central Bank and the EU’s ECOFIN Economic and Financial Affairs Council. Calls for Spanish VAT increase to control deficit The Bank of Spain …