Exempt From VAT - Self-Employed & Greek SMEs With Revenues Up to 10,000 Euros

The Greek Parliament (credit: Wikipedia)

Greek Minister of Finance Gikas Hardouvelis introduced an amendment to a multi-bill that was tabled in parliament, according to which businesses and the self-employed with a gross income of up to 10,000 euros are now going to be exempt from the VAT. The exemption though is not automatic; taxpayers must declare their choice, which is in-power for one year, after which point the taxpayer is going to be able to change. Should the taxpayer (or business) exceed the 10,000-euro cap, then they are going to be obligated to pay the VAT in the following year.

The multi-bill which was voted on late on Wednesday night, amidst fierce reactions from the opposition, displeased government MPs, who objected to a series of regulations that were included in the bill.

Amongst the points of objection were the changes in the asset declarations (or pothen esches) of politicians and state officials, as well as the compulsory publication of local government and state notices as well as invitations in the Press.

Uniformed officer unions also reacted fiercely to the multi-bill and denounced the government in respect to the changes that affect their pensions and lump sums.