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Greek govt hurls tax changes until Eurogroup meeting on Mon.

A number of announcements are expected over the next few hours... Proto Thema provides you with a check list of what is to come

Newsroom November 5 08:16

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The Radical Left Coalition (SYRIZA) government is raining taxes until the Eurogroup meeting on November 9 in a last-ditch effort to close all open fronts. New measures will be discussed and – hopefully – be approved during a teleconference call with the Euro Working Group on Friday, November 6.

A barrage of government announcements are expected to be made over the next few hours on a number of issues. Here’s your check list:

– VAT hikes that were being considered for private schools would not take place following the conclusion that they would do more harm than good. EU Commissioner Pierre Moscovici, on his recent visit, said that the government was free to find equivalent funds from elsewhere.

– 10% gambling tax on KINO. 5 cents for a 50-cent column would still leave another 100 million euros necessary to yield from other measures that would otherwise have been gathered from a VAT hike in education.

– New excise duties for cars in 2016 that would apply for new cars (up to 5 years) of large engine capacity as well as for cars currently exempt from taxes due to low emissions.

– Changes in the way heating subsidies are granted. New income and geographical criteria will be considered so as to limit the number of people eligible to receive such subsidies. The measure is one of the prior actions demanded for October.

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– Changes to debt settlement in 100 installments, except in cases where interest rates have already changed. The number of installments will decrease.

Athens will make new proposals by noon regarding the protection of primary residences in cases where foreclosures are deemed necessary. It is expected that ome values worth 160,000-180,000 euros or lower will be protected.

On Tuesday, following the Eurogroup, technical groups will return to Athens to supervise the implementation of the next wave of prior actions.

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