European Commission may tax-free ceiling a year earlier, as of 2019

A draft report by the European Commission on Greece’s compliance with bailout memorandum requirements refers to the prospect of lowering the tax-free ceiling as of 2019 instead of 2020, as originally planned, according to the Bloomberg wire service.

The draft report suggests that this may happen if the IMF and European creditors decide in May that speeding up the measure is necessary in order to meet the target of a huge 3.5 percent primary surplus in 2019.

Hence, if necessary, Greece “will pass legislation that will ensure the precise achievement of the fiscal target, is a manner that favours development”, the draft text states, according to Bloomberg.

The draft also states that Greece must ensure that the VAT tax discount, on the islands where it is still in effect, must be abolished by 30 June, 2018, and that Greece must still meet 88 outstanding preconditions, in order to complete the fourth and last evaluation of the third and last bailout evaluation, by August.

The issue of auctions of seized properties is underlined in the text, which stresses that electronic, online auctions will be monitored by creditors, especially in late January and early February.

in.gr