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Finance Minister Introduces VAT Protocol Amendment

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Greek Finance Minister Gikas Hardouvelis has tabled a multi-bill amendment, where businesses and self-employed workers that make up to 10,000 euros in gross income, won't have to pay a VAT, as reported by To Vima.

However, this is not an automatic act. Taxpayers have to state their decision which then applies for one year. If the company or taxpayer ends up earning more than 10,000 euros, they are responsible for paying the VAT the next year.