OPINION

Restaurant VAT must go down

Reducing the rate of value-added tax in the Greek restaurant industry is of the utmost importance and should not be delayed any longer.

This is a glaring case of mishandled planning on the part of the state.

Over the course of the last few years, there were those who thought that irrational increases in taxation in certain sectors of the Greek economy would have led to the state raising its revenues in direct proportion.

In practice, however, the aforementioned strategy led to nothing of the sort.

Consumption levels have been decreasing and a portion of activity in the catering industry is turning to transactions which are carried exclusively under the table.

In the end everyone stands to lose.

Those who pay taxes and issue receipts and invoices end up being less competitive, while the rest of the industry’s professionals start turning to illegal practices.