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Greek VAT Increases Curtail Gains

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Greek value-added tax figures have been increased three times in the last five years.

The act was administered in March 2010, July 2010, and in January 2011. Current governmental negotiations with the nation's international lenders will mark the fourth enlargement since 2010.

Rates have soared by 22% within main VAT figures, while low VAT rates have enlarged by 44%, since the start of the increases, according to Kathimerini.

The large VAT alterations are attempting to raise the country's income. However, monetary revenues have been decreased by 20%.