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10.3% increase in VAT revenues due to the interconnection of cash registers with POS | TheGreekDeal.com
Kostis Hatzidakis
10.3% increase in VAT revenues due to the interconnection of cash registers with POS
VAT revenue in the first half of the year was 10.3 percent higher than the first half of 2023 and comes from growth and from the interconnection of POS with cash registers according to the Minister of National Economy and Finance Kostis Hatzidakis.
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Kostis Hatzidakis, Minister of Finance

"VAT revenue in the first half of the year was 10.3 percent higher than the first half of 2023 and comes from growth and from the interconnection of POS with cash registers," Minister of National Economy and Finance Kostis Hatzidakis told SKAI 100.3.

"I couldn't be in the minister's position and do nothing when thousands of freelancers say they live on 260 euros a month," he said, referring to the tax on imputed income.

"This year, tax revenues to freelancers were increased by 600 million euros, while another 100 million euros were cut from benefits they received because of the low income they declared," he said by way of illustration.

On the tax evasion front, the finance minister stressed that "we are surprised by court decisions that allow the reopening of petrol stations that we sealed for tax evasion,"  stressing, however, that the measures implemented are paying off.

He then referred to the 35% reduction in the ENFIA, the increase in the tax-free allowance for children, the abolition of tax on parental benefits, and the tax-free acquisition of government bonds.

"In 600 cases, we are abolishing paper tax. We reduced VAT on transport and catering, and it stayed reduced," he went on to add. "We have to balance revenue and expenditure as we are judged by purchases. Based on the fiscal rules, we have scenarios to increase spending with European targets. It allows us to raise €3 billion.

  • 1 billion to increase regular spending on fixed public expenditure and mainly spending more on education and health.
  • 1 billion to increase pensions. 400 million more because of a formula increase for pensioners and
  • 600 million more for more pensioners than last year.
  • 856 million more for defence.
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