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All taxes to be abolished or reduced by New Democracy

Main opposition, New Democracy is planning a drastic intervention in the exorbitant taxes that burden the Greek economy and do not allow for high growth rates.

Speaking at the ATHENS LAW FORUM ON TAXATION, Stylianos Petsas, director of the New Democracy chairman's office referred to the interventions planned by New Democracy:

-The tax on businesses will go to 20%, from 29% today

-ENFIA property tax will be reduced by 30%

-The wine tax will be abolished altogether

-It will increase the VAT payment threshold to 25,000 from 10,000 today

- An introductory tax rate on natural persons will be introduced at 9%, from 22% today.

- A new, progressive, tax scale will be introduced with a much lower tax rate than the current one, reaching 55%, with gradual abolition of the trade fee and the special solidarity levy.

-The reduction of primary pension contributions is planned to 15%, from 20% today, gradually over the course of four years.

-A VAT reduction is proposed with the introduction of two rates of 11% and 22%, from 13% and 24% today. Especially for the tourist package, the goal is to drop tax to 11%, with immediate priority for VAT reduction to 13% from 24% today.

-Also there is a proposal to abolish the hotel and accommodation tax applicable from this year.