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Sunday, 14 June 2015

Greece: VAT (ΦΠΑ) Collection, First Five Months 2015, "From Bad to Worse" - η «Αγορά» (εφημερίδα), 13/6/2015; VAT Targets, Greek Counter- Proposals Presented in Brussels

The VAT collection rate in Greece in 2015 is much worse than for the same (disappointing) period in 2014 - especially on the islands.

Sample VAT Collection Rates for January-May 2015, in comparison with the same five-month  period in 2014:

Corfu: minus 12.51%
Lefkada, minus 20%
Zakynthos, minus 12.8% 
Mykonos, minus 32%

There are very few, largely inexperienced VAT-collection control agents, clerks and volunteers attempting to police the situation and to hunt down VAT evaders. A disaster for the government, suggests the newspaper. The figures are no better for the period up to mid-June 2015.

Source: η «Αγορά» (εφημερίδα), 13/6/2015

Update from Brussels, Varoufakis on VAT Collection Problems:

Varoufakis says Greece's problem with VAT is "collectability" and not need to raise rates

Greek Debt Tracker (FT)

On the Greek VAT figures in today's (Sunday's) latest counter-proposals to creditors:

FT Brussels blog - "Creditors do not believe the underlying figures in the document support those targets. One official cited the €700m Athens proposes to save next year through cracking down on value-added tax fraud as an item that fails to hold up under scrutiny. “The question is how credible the commitments are to achieve those targets,” said Annika Breidthardt, the European Commission’s spokesperson for economic issues".

A song for the times? Don't Lose Your Good Thing

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