Greek Parliament Passes Omnibus Bill Full of Tax Hikes

The Greek Parliament on Sunday evening permitted an omnibus invoice which incorporates oblique tax hikes of some 1.8 billion euros. In line with the voting outcomes, 152 of Prime Minister Alexis Tsipras’ MPs supported the invoice.

The listing of tax hikes and measures contains elevating the value-added tax (VAT) from 23 p.c to 24 p.c; a brand new highway tax for automobiles with international license locations coming into Greece; rising particular tax on cigarettes, tobacco and digital cigarettes; and a “stayover tax” for motels (to come back into impact in 2018).

The 7,200-page invoice additionally accommodates two controversial articles which consult with a brand new privatization fund, which supplies the nation’s collectors a key say within the privatizations that can happen; and an computerized spending minimize mechanism, which foresees further contingency measures as much as 3.6 billion euros if Greece misses fiscal targets in 2018.

In line with Greek each day Kathimerini, eurozone finance ministers are attributable to meet in Brussels on Tuesday to determine whether or not Greece has carried out sufficient to finish the primary evaluation of its newest bailout program. If the inexperienced gentle is given, Athens is ready to obtain a minimal of 5.7 billion euros in contemporary funding.