BUSINESS

Tax exemptions, rates under revision

Government spokesman Ilias Mosialos said on Tuesday the government is planning extensive changes to tax exemptions, rates and criteria, which will become law by October at the latest and apply as of January.

?There are some 980 tax exemptions under revision, as well as the tax rates, including value-added tax rates, and the objective criteria for the self-employed,? said Mosialos.

He did stress that the VAT on food catering will rise to 23 percent from September 1 but noted that this would change, too, in the new year, as part of the general tax system overhaul.

After the furor created on Monday following an announcement by Finance Minister Evangelos Venizelos that all-inclusive holiday deals booked from abroad would rank in the 13 percent VAT rate for food catering, while those booked domestically would rank in the 23 percent bracket, the government now seems to be taking the decision back.

Sources now suggest that holiday packages booked within Greece will also stay at the 13 percent rate after all.

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