Stournaras: Review tax exemptions

Bank of Greece Governor Yannis Stournaras argued to Kathimerini it is clip to proceed with reviewing the tax system, including tax exemptions, by creating a committee on the lines of what existed successful 2002. He besides sees sufficient fiscal space for much support measures arsenic things stand, but without value-added tax oregon special depletion tax cuts.

“We bash not urge that the authorities chopped the tax exemptions, but alternatively that it reviews them and examines whether they are sufficiently targeted,” helium said successful his archetypal paper interrogation pursuing the authorities announcement past week, which supported him for a third term arsenic seat of the Bank of Greece.

“For example, bash we see it due to still person tax exemptions that were granted during the pandemic? Is it amended to target them more, [for example] based connected κοινωνικά and economical goals? Is it clip to make a caller [late prof Thodoros] Georgakopoulos Committee and reappraisal the tax burden, including tax exemptions? We are talking astir reducing VAT, but if we take into relationship tax exemptions successful VAT, it is already reduced,” said Stournaras, besides a erstwhile concern minister.

In his interview, helium besides still talked astir the hazard of stagflationary phenomena owed to the war and argued that there is some leeway for caller support measures, but these indispensable not beryllium horizontal oregon permanent: “It appears there is fiscal space and according to our accusation it whitethorn beryllium adjacent greater than we thought until now. Perhaps the superior surplus successful 2025 will transcend 4.4% of GDP. However, the support indispensable beryllium specific, temporary and targeted,” helium said, agreeing with the authorities successful opposing immoderate cuts to the special depletion taxes.

The archetypal – aft Xenophon Zolotas – cardinal banker to take connected a third term, Stournaras has caller challenges up of him, arsenic helium said, highlighting the improvement of integer technology and artificial quality applications; 2028 is besides the solemnisation of the bank’s 100th anniversary. His caller term is acceptable to past until 2032.