BUSINESS

Michalos calls for heating fuel tax cut

Athens Chamber of Commerce and Industry (EBEA) President Constantinos Michalos on Wednesday reiterated his support for a cut in the special consumption tax on heating fuel, with a parallel clampdown on illegal trading and fual adulteration.

He argued that the leveling of the tax on heating and automotive diesel two years ago produced negative economic and social results at a time of economic crisis, notably a sharp decline in public revenues estimated at more than 300 million euros annually.

“The previous leadership at the Finance Ministry [ex-minister Yannis Stournaras] did not have the courage to admit the mistake and maintained the heating fuel special consumption tax at high levels for a second year in a row, depriving public coffers of invaluable revenues and causing problems for the citizens who had to go without heating, but also to the firms active in the sector, which saw their turnover fall by 70 percent,” Michalos said.

He urged new minister Gikas Hardouvelis to bring the heating fuel tax back to 2011 levels and institute substantial measures against illegal practices in fuel trading, such as an electronic inflows-outflows system at all stages, a provision already in law since 2009.

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