The gradual reduction of tax rates to individuals and businesses at 15%, the abolition of emergency solidarity contribution, the VAT exemption for small businesses and the reduction of car taxes in 2015 were heralded by Financial Secretary George Mavraganis.

According to him, based on the data from this summer, the solidarity contribution will be examined in the autumn.

“The intention of the government is to reduce income tax on any business activity and the reduction on the burdens of employees and retirees”, said Mr. Mavraganis to Sunday’s Vima newspaper.

At the same time, the Finance Ministry is reportedly considering a new draft regulation of repayment of overdue debts after realizing that during the first quarter, citizen debts increased by 3.5 billion euro.