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IMF Calls For VAT On Greek Food Service To Rise Again To 23%

Low_VAT_sticker_The International Monetary Fund (IMF) is pushing for the value-added tax (VAT) on Greek food services to return to 23 percent, Greek press reports said.

On 1 August the VAT rate on food service in Greece went down from 23 to 13 percent.

According to press reports, the measure was deemed ineffective by the IMF as the VAT decrease failed to show the awaited results (increase in jobs or a reduction in prices), during the five-month trial period.

The IMF warned that state coffers will be deprived of 200-300 million euros if the VAT rate does not rise again to 23 percent.

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