GR US

Greek Parliament Ratifies Government's Taxation Bill

Ευρωκίνηση

The Parliament House in Athens. (Photo by Eurokinissi/ Yorgos Kontarinis)

ATHENS - The government’s taxation bill was passed by a majority vote in parliament on Friday evening, with partial approval by SYRIZA on specific clauses.

Ruling party New Democracy and opposition party Greek Solution voted in favor of the bill, in principle, while main opposition party SYRIZA, Movement For Change (KINAL) the Greek Communist Party (KKE) and MeRA25 voted against it, in principle. In addition, SYRIZA voted in favor of 26 clauses of the bill, against 21 clauses and 'present' in 20 clauses.

The bill brings tax cuts worth up to 1.2 billion euros for businesses and households, media reports mention.

"We didn't solve all the country's problems with this bill," mused Finance Minister Christos Staikouras and added how "all households will see tax reductions."

Concerning reductions in property tax (ENFIA), Staikouras said that lower incomes will see a 23 pct cut, middle incomes a 16 pct cut and higher incomes a 7 pct reduction.

The FinMin underlined that the government's goal is to reduce primary surpluses, achieved at higher growth rates, with lower borrowing costs by leveraging profit returns accrued from Greek bonds (ANFA and SMP) held by European central banks, and with the repayment of the most expensive part of Greece's loan to the International Monetary Fund.