Prior actions bill raises taxes on lottery games and wine
After a marathon negotiation that concluded early on Tuesday morning, the government submitted a prior actions bill in…
After a marathon negotiation that concluded early on Tuesday morning, the government submitted a prior actions bill in Parliament in order to secure the 12 billion euros (the 2-billion-euro tranche and 10 billion for the bank recapitalization). Included in the bill, which will be debated on Wednesday and voted upon on Thursday, are tax hikes in gambling and wine, among others.
By introducing a special taxes on OPAP-operated lottery games and wine the government aims to replace the controversial 23% VAT in private education. The government aims to generate 350 to 450 million euros from gambling and a further 110 million euros from wine (40 cents per liter).
Furthermore, the bill limits the term of the new head of the General Secretariat of Public Revenue from five to two years. The bill also contains a number of provisions extending the repayment period of debts under the ‘100 installments’ settlement, while other provisions exempt taxpayers from paying taxes on uncollected rent.