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GreeceCode of Public Revenues ratified; will codify laws related to VAT, assets,...

Code of Public Revenues ratified; will codify laws related to VAT, assets, and customs

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The Code of Public Revenues, which the government said codifies and simplifies tax laws, was ratified in the Greek Parliament’s plenary session on Thursday.

It was approved by ruling New Democracy and opposition PASOK-KINAL, and voted down by all other opposition parties.

Speaking of the new code’s benefits, Deputy Finance Minister Apostolos Vesyropoulos told Parliament that it was part of the government’s reform agenda that includes simplifying tax laws, while it introduces other regulations aimed at upgrading tax administration and services to citizens.

The Code of Public Revenues codifies six tax groups of laws, including those related to local government, VAT, other indirect taxes, the Code of Tax Procedures, the Code of Asset Taxation, and the National Customs Code. An administrative codification of the Codification of Direct Taxation is also in the works.

SOURCE; ANA-MPA

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