What a Greek VAT U-turn would mean for multinationals
27 January 2012
Joe Dalton
Rumours are rife that the Greek government will opt to reduce the VAT rate when it drafts a Bill for a new tax system next week.
One coalition partner, New Democracy, is insisting the top rate be cut from 23% to 19%, in a reversal of the increase enforced in 2010.
A reduction in VAT would be a clear admittance by the government that its austerity measures have failed to kick-start the economy.
Multinationals are likely to see a marginal benefit from any reduction, though this could be offset by the compliance burden they will face.
Nikoletta Merkouri, of Ernst...
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