A positive development

The government’s new tax bill is a major improvement on previous efforts as well as a welcome simplification of the country’s taxation system.

The bill was a necessary step in order for the country to move away from the kind of ambiguities and traps that existed in the local tax system in the past.

It is absolutely vital that each and every Greek citizen – not to mention foreign investor – is fully aware of the rules of the game when it comes to paying their taxes in this country.

Unfortunately, the government’s financial team have repeated some of the mistakes made by previous administrations: There was no publication of a preliminary plan, certain provisions were withdrawn after the bill was made public, and, overall, the team gave the impression of “doing” and then “undoing,” which is just the kind of strategy that makes Greek people very angry.

In spite of all that, this new bill remains a very positive development.

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