ECONOMY

Uproar over 8 pct tax on service company invoices

The government’s announcement yesterday to impose an 8 percent levy on all service company invoices that exceed 300 euros as of July 1 has met with the strong resistance of the market, which requested the measure’s withdrawal. Although Finance Minister Giorgos Papaconstantinou told Parliament during the discussion of the new tax bill that the time frame for the measure was under revision, the heads of the Athens Chamber of Commerce and Industry (EBEA), Constantinos Michalos, and of the Hellenic Chamber of Hotels, Giorgos Tsakiris, said it should be abolished all together at such a difficult financial conjuncture. Papaconstantinou also said that further amendments to the bill are under examination, including introducing stricter terms for taxing luxury possessions such as yachts, swimming pools and expensive cars. «The amendments will restore fairness where required,» said the minister.