ECONOMY

Transfers that are obviously legal will be exempt from the 26 pct tax

Alternate Finance Minister Nadia Valavani (right) made on Friday two significant changes to the controversial regulation introduced in Parliament regarding a 26 percent provisional tax on corporate transactions with firms in countries of «privileged tax status,» such as Cyprus and Bulgaria.

The first is that transactions whose legality is self-evident will be exempt from the tax, while the second is that the tax will be returned within three months and not 12.

Potami deputy Haris Theoharis (left) accused the government of creating a new queue of tax rebates.