Public revenue code ratified

Public revenue code ratified

MPs voted to ratify the Public Revenue Code, which the government said codifies and simplifies tax laws, on Thursday.

The legislation received backing from ruling New Democracy and opposition PASOK-Movement for Change MPs but was rejected by all other opposition parties.

Speaking of the benefits of the new code, Deputy Finance Minister Apostolos Vesyropoulos told Parliament that it was part of the government’s reform agenda to simplify tax laws while it introduces other regulations aimed at upgrading tax administration and services to citizens.

The code codifies six tax groups of laws, including those related to local government, VAT, other indirect taxes, the Tax Procedures Code, the Asset Taxation Code and the National Customs Code. An administrative codification for direct taxation is also in the works. [AMNA]

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