Greece – Draft Budget for 2017 submitted to parliament

The 2017 draft Budget was presented to the parliament (Committee of Economic Affairs) on 3 October 2016. The following main items are covered in the Budget:

reform of the Income Tax Code;
amendments to the Special Solidarity Contribution;
an increase in the VAT rate (from 23% to 24%, which already applies since mid 2016);
amendment to the taxation on vehicles;
imposition of income tax on business cars;
a reform of excise duties on energy products;
a reform of taxation on investment vehicles;
a fee on cable TV;
a fixed telephone subscribers fee;
amendments to the taxation of lotteries;
an increase of the excise duty on beer;
an increase of the tax on cigars and tobacco;
taxation of coffee products; and
tax exemptions under the new investment law.

The draft Budget is available on the official website of the Ministry of Finance.

Further details will be reported subsequently.

Source: ibfd.org

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