Value-added tax

In order to help bring the sector of renovation services out of the grey economy, in which no income is declared, the Ministry of Finance offers a discount on taxes when repairing a home, Club Z reports. The discount can reach up to BGN 200, according to a bill published by the Ministry.

About 80% of all businesses will prepay a smaller portion of their taxes, with most seeing a 50% reduction. The Ministry of Finance said data from tax offices across the country showed that turnover losses were precipitous.

A Finance Ministry official estimates that businesses will pay €1.2-1.5 billion less in taxes in 2020.

Parliament's Committee on Budget and Finance adopted at second reading the proposal to reduce VAT on restaurants, books and food and diapers for children.

The deputies said "yes" to the fall of the tax from 20 to 9%, Nova TV reports.

The idea of ​​reducing the VAT on low-alcohol beverages - wine and beer - was rejected.

Greece on Thursday announced a package of measures amounting to 115 million euros to support the country's air transport sector, hit hard by the lockdown to contain the spread of the new coronavirus including the grounding of flights.

The discount for the timely payment of taxes helped prevent budget revenues from collapsing in April, although they did post a reduction of 1.35 billion euros in the January-April period, according to data announced by the State General Accounting Office on Monday.

Main opposition leader Alexis Tsipras presented on Monday SYRIZA's plan for tackling the fallout on the economy from the coronavirus crisis, which includes a fiscal expansion program of 13.4 billion euros for the real economy and households, as well as measures for all employees, the unemployed and independent business owners.

Food service businesses may be preparing to reopen next week but they are also protesting against the government measures for them, which they consider to be insufficient as far as safeguarding their sustainability is concerned.

The measures announced by the government are in the right direction for the resumption of business in the tourism industry but there was still room for "significant improvements" and initiatives in labour and tax issues, the head of Greece's leading tourism association SETE said on Thursday.

Greek Finance Minister Christos Staikouras on Wednesday presented a new package of 15 policies to be implemented from June until October 30 in the framework of the third phase of a plan for economic recovery.

Prime Minister Kyriakos Mitsotakis on Wednesday announced an extension of the government program to support businesses through July and targeted tax cuts, as part of a plan to revive tourism and other sectors hit by the coronavirus pandemic.